Resignation policy

Resignation policy

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  1 of 30ISL-HRP-07A PROCEDUREON SEPARATION OF EMPLOYEES & EXIT INTERVIEW • Title Human Resources Document No. Version Copy# Date of Version Department IssuingPage INTERNATIONAL STEELS LIMITED 1. PURPOSE: ISL wishes everyone to have a long, successful and rewarding career with the Company and does not want good employees to leave the Company. However, conditions may arise which necessitate the termination of an employee services. Likewise, the employee may also initiate separation request. 2. SCOPE: This facility is applicable to all employees at all locations of the Company. DEFINITIONS: MD Managing Director MC Managing Committee DH Divisional Head HOD Head of Department HRD Human Resources Department Employee Permanent / Probationer employees 4. RESPONSIBILITIES: lncharge HR shall be responsible for ensuring that actions detailed below are completed before final settlement of employee dues are made; 4.1 Stop salary instructions to Accounts Department. 4.2 Issue acceptance letter or issuance of termination letter, as the case may be. 4.3 Ensure return of all Company's property in possession of employee. 4.4 Ensure return of Company's ID card & others including Car, mobile etc. 4.5 Ensure that clearance certificate is obtained from all concerned department. 4.6 Issuance of instructions to Finance Department for settlement of dues. 4.7 Ensure intimation to Group Life Insurance Company and EOBI. 5. PROCEDURE: 5.1 When an employee expresses his / her intention to resign, the immediate supervisor will take steps to remedy, if desirable and possible. 5.2 In case separation becomes inevitable, the Manager concerned shall send the letter of resignation to the HRD through concerned Divisional Head. 5.3 In case of termination of an employee due to (lack of efficiency or misconduct etc.) Ithe approval of the concerned DH / MC Member will be required. The HOD HR will issue letter of termination. 5.4 In case of separation of a senior position, voluntary and involuntary prior approval of the MD shall be obtained by HOD HR. 5.5 EXIT INTERVIEW: 5.1 Purpose: In order to establish real ►easons for employee separation, so as corrective action may be taken to retain other good employees. CONTROLLED DOCUMENT DO NOT DUPLICATE
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  PROCEDURE ON SEPARATIONOF EMPLOYEES & EXIT INTERVIEW Title 0 cw;Human Resources 2 of 3 Document No. Version Copy# Date of Version Department IssuingPage ISL-HRP-07A INTERNATIONAL STEELS LIMITED 5.2 Objectives: 5.2.1 To determine the real reasons why the employee is leaving in case of resignation. 5.2.2 To discover any grievances the employee may have regarding working conditions so that corrective action can be taken. 5.2.3 To discover any misunderstanding the employee may have had regarding his / her job or the Superiors so that corrective action can be taken. 5.2.4 To explain to the employee the reason for discharge or redundancy. Discharge, if not properly handled, can be the cause of considerable hard feeling towards the Company, and may undermine the Company image built over years. 5.2.5 To retain the goodwill of the employee, his / her family and friends . towards the Company. 5.3 Procedure: 5.3.1 The exit interviews on ISL-HRP-07A-F-01 will be held immediately upon notification by employee of his / her intention to resign or on termination from the service. 5.3.2 The department head will forward the resignation of the separating employee to the HOD HR with his / her comments / recommendations which should not be formally recorded without first consulting the HOD HR. 5.3.3 HOD HR will have a one to one session with the employee and ask about his / her queries directly to employee and then give his concluding remarks. 5.3.4 HOD HR, if he so feels necessary will discuss the exit interview with the concerned Manager and Departmental Head, if employee express dissatisfaction with certain matters as reason for leaving which are within the departmental control so that corrective action is taken. 5.3.5 All "Exit Interview Form" along with resignation will be forwarded to MD through concerned MC Member for information or for interview with the employee, if needed. 5.3.6 In July every year the HOD HR will prepare a report on employee turnover for perusal of the MD. This report will give each department's turnover reasons, rates and summarize any significant factors affecting employee turnover. 6. RELATED DOCUMENTS: Exit Interview Form ISL-HRP-07A-F-01 CONTROLLED DOCUMENT DO NOT DUPLICATE
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  Date:Verified by: 0 3of 3 Date:Prepared by: HOD uman Resources PROCEDURE ON SEPARATION OF EMPLOYEES & EXIT INTERVIEW Title 1SL-HRP-07A Human Resources Document No. Version Copy# Date of Version Department IssuingPage Director / C Members Approved by: Man mg Director INTERNATIONAL STEELS LIMITED -1' 1 Date: CONTROLLED DOCUMENT DO NOT DUPLICATE