UBS

Notice Period

What is the Notice Period?

A notice period is the duration of time between the resignation letter submission and the end of the last working day. It is also known as the duration of time specified in an employment contract during which an employee must provide notice to the employer before quitting their job. This time period varies from 30 days to 60 days as per company policy.

A notice period is the amount of time an employee has to give from the time he or she decides to resign. This period can help the company to find another employee for the same position, so work will not be hampered. Some people might quit their job without giving notice because they think it’ll give them chance to join a new position immediately; however, there are some charges in some companies to leave the company without serving the notice period.

Tasks To Finish During The Notice Period

  • Complete the remaining project handled by an employee
  • Returning company assets
  • Get paid final salary
  • Prepare handover documents
  • Ask them to read the experience letter
  • Assist with training new candidates for your position

Benefits Of Notice Period For Company

  • It helps to provide more time to seek out a replacement for the departing employee.
  • It allows the employer to review the employee’s work performance to address in the experience letter.
  • It gives the company time to regulate the necessary change in staffing.
  • It gives time to the employer for settling legal issues regarding departing employees.

Also, See: Probation Period

 

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