A Reduction in Force (RIF) is typically needed to lower costs, realign the business, and retain the people who are best qualified to position the company for the future. Most RIFs will be effective only if there is adequate management planning. Early Retirement windows are generally structured in a similar fashion.
Early Retirement windows are most often structured by viewing a combination of age and service to determine eligibility. In addition, a window can be targeted to just specific business units or positions, as additional criteria.
A few key considerations which help frame the offering include:
As a starting point in the process, it is vital to identify key management personnel to formulate procedure/criteria and to manage the process, including:
We work with our clients in every aspect of this analysis.