I saw somebody mention a possibility of getting ahead of PIP by offering to take a severance package. Is this an actual possibility? Has anybody who has been put on PIP actually tried and succeeded in doing this? Sounds a little too good to be true, but it doesn't hurt to ask, I guess...
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Fido certainly does offer this as an option. As opposed to severance it’s referred to as “mutual separation with pay”. They are two different things but amount to the same endgame. It comes down to working with HR and the business unit if both parties agree that it’s beneficial to separate sooner rather than later.
Thanks for the answer!
Don't know about the Finance industry, but I have observed this practice in others. The PIP'ed individual could suggest his/her wish to take the Severance Package before completing the PIP.
Some company or manager would support this to save PIP's time of 3-6 mos average to fill the position or"making the number" quickly.
Yes, it is an actual possibility depends upon:
1) Employee's performance history.
2) Availability of Severance Package (SP) - If the organization has none at the time then there there is very little chance. But it's not hurt to ask.
3) Employee's relationship with his/her manager. The Mgr IS the best person to support the employee's wish and present it to upper Mrg and HR and get approval. I have seen the Mgr even asking for more for the employee's SP