Employee Exit refers to the process of separation of an employee from the service of an organization. This can be on account of voluntary resignation, termination, end of contract, retirement, death or absconding. As part of the exit, the company performs a no-due clearance and processes the final settlement.
When an employee resigns from an organization, the HR has to complete the separation process. This consists of:
- acceptance of resignation by Reporting Manager
- negotiation on notice period
- exit interview
- No Objection Certificate from all concerned departments such as Accounts for loan, IT for assets, and Admin for ID cards and visiting cards
- full & final settlement
An employee will be relieved from service only on fulfillment of complete separation process.