{"id":35911,"date":"2015-06-27T18:43:36","date_gmt":"2015-06-27T18:43:36","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=35911"},"modified":"2024-04-03T13:18:37","modified_gmt":"2024-04-03T07:48:37","slug":"voluntary-retirement-scheme","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/voluntary-retirement-scheme\/","title":{"rendered":"Voluntary Retirement Scheme"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/Voluntary-Retirement-Scheme.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-35954\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/Voluntary-Retirement-Scheme-300x225.png\" alt=\"Voluntary Retirement Scheme\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/Voluntary-Retirement-Scheme-300x225.png 300w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/Voluntary-Retirement-Scheme-1024x768.png 1024w, https:\/\/www.vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/06\/Voluntary-Retirement-Scheme.png 1500w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Downsizing of workforce is generally implemented through Voluntary Retirement Scheme (VRS). Under this scheme, the organisation and its employees enter into a mutual agreement under which employees agree to voluntarily retire on payment of agreed compensation by the employer. VRS has come to be recognized as GOLDEN HANDSHAKE because of the benefits for both the employees and the employers. The employees get handsome amount under the VRS package and the employees save recurring fat wage bills in the long- run.<br \/>\nVRS is not new to India but has attracted the attention after the liberalisation in Indian economy which has increased the competition and has forced many organisation to have a relook at their redundant human resources which have been a source of fat wage bills without corresponding production.<\/p>\n<p>VRS has been used in India as a part of downsizing strategy to cut the size of the wage bill. VRS has been executed in both public and private sector undertakings by offering attractive sepration package known as &#8216;golden handshake&#8217;. Such organisations include public sector banks, TISCO, SAIL, Bajaj, Auto, Philips India, Hindustan Unilever Ltd.etc.<\/p>\n<p>However, it has some disadvatages also like efficient employees may leave the firm and inefficient may stay back which would reduce the skill base of the firm, VRS might increase the workload of existing employees if it is used to cut the pay bills.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/Human-Resources\">Click here for government certification in Human Resources<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Downsizing of workforce is generally implemented through Voluntary Retirement Scheme (VRS). Under this scheme, the organisation and its employees enter into a mutual agreement under which employees agree to voluntarily retire on payment of agreed compensation by the employer. VRS has come to be recognized as GOLDEN HANDSHAKE because of the benefits for both the&#8230;<\/p>\n","protected":false},"author":1283,"featured_media":35954,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1529],"tags":[4819,4820,4821],"class_list":["post-35911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-human-resources-2","tag-downsizing","tag-golden-handshake","tag-public-and-private-sector"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Voluntary Retirement Scheme - Vskills Blog<\/title>\n<meta name=\"description\" content=\"How Voluntary retirement scheme is beneficial for the organisations ? Apply for a vskills certification in Human Resource now. 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