Five tips to manage notice period woes
IT organisations across the globe are recruiting on a war footing. The hunt for the best talent is at its peak and compensation packages are skyrocketing year on year to lure the top contenders. This has led to high attrition rates. No doubt, it is an employee’s market but there can be trouble in paradise if the exit from an organisation is not effectively planned and managed by an employee.
Typically, companies in India impose anywhere from one to three months notice period for employees who quit. Of late, many are reducing the three-month period to a more reasonable two. While there are overheads for the organisation in forcing an employee to stay for this duration after he has put in his papers, in general, companies mitigate the risks of a sudden knowledge loss due to attrition by utilising this time for planning transition and a smooth handover. Generally, the new organisation pressurises its recruits to come on board as early as possible to fulfil their requirements. In both cases, it is individuals who are caught in a Catch 22 situation and have to negotiate their way, either by serving the entire notice period or by paying the shortfall in notice from their own pockets. Without proper planning, this can be really stressful and financially damaging.
Clues to manage the situation:
1. Know your company policy: Much before you plan on quitting or even attending any interviews, be aware of your company's notice period policy. During interviews and negotiations, make it clear to the HR of the recruiting company what the current company's notice period is.
2. Plan your exit: Plan on leaving during a period when the project pressures are not high and no immediate deliverable is on the horizon. The chances of getting released will be relatively high. Be prepared on how you would want to take the discussion forward when your manager announces you will have to serve the notice period. Ensure that you maintain at least cordial and good working relations with your immediate manager for the next few days or weeks. He can make or mar things for you.
3. Try for a waiver: As far as possible, serve a month's notice and negotiate a waiver against your accumulated vacation. Thereby, neither do you have to pay any money nor does the new organisation, which you intend to join.
4. Confirm date with HR: It is a general practice for quitting employees to state "I would like to get relieved on dd/mm/yy date". And even if this last date has been mutually agreed between you and your manager, do verify with the HR so that you don't end up paying money towards shortfall of notice period according to some mysterious rules, which might be shown to you later. Make sure you get a confirmation by e-mail and let the HR do the calculation. From my own experience, there's always a difference between how you calculate 60 days and how they do, though it's the same calendar.
5.Negotiate with the new company: In cases where you are being pressurised to join immediately at the new organisation, discuss with the HR of your new company of how much you would have to pay your former employer if you were to join on the date requested. Most companies these days are ready to shell out money to get resources on board as soon as possible. If there is a positive response, get this confirmation in an e-mail. Make sure to provide the documents they will need for reimbursement of this amount, such as a photocopy of the DD attested by the HR of your old company or an FFS (Full and Final Settlement) sheet.
Finally, remember to part on good terms with everyone at the existing organisation. It’s a small world after all!
LAKSHMI NAGARAJAN
faqs@cnkonline.com
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