Employee Retainer Scheme

 

COMPANY NAME

EMPLOYEE RETAINER SCHEME

 Purpose

The purpose of the Scheme is to ensure that valuable staff are retained as employees by enabling them to return to a post with the same Terms and Conditions following an extended period of absence or reduced working hours.

The Scheme allows for long term absence or reduction in working hours, with guaranteed return to original terms and conditions and the opportunity of keeping up to date in the intervening period. Thus the Scheme benefits the employee by allowing for a degree of flexibility in the application of his/her contract, and benefits the Company by reducing staff wastage.

Eligibility

The use of the retainer scheme is at the discretion of the employee's manager, having regard to service requirements. Every employee with service of one year or more may apply.

Retention is not applicable to employees who leave the Company to work for another organisation.

Type of Absence

An employee's normal contract of employment will be retained while the employee is

a) absent and unpaid

b) working reduced hours for personal reasons such as family carer comittments

The Retainer Agreement

Employees must apply for the scheme  in writing to their manager at least three months prior to the requested commencement date. If the manager agrees to the request, an agreed Retainer Agreement will be drawn up between the manager and employee.

Retention arrangements will normally be for an agreed, specified period, and for no more than five years.

The Agreement will specify:

•  how the employee will be required to keep up to date with developments in their Department / field / speciality for example by paid attendance at refresher courses or a limited amount of temporary (paid) work each year. 

• how the manager will maintain contact by correspondence or regular meetings and by ensuring that employees on retained contracts are included in the distribution of any information circulated to employees. 

Employees will confirm their commitment to the scheme annually in writing.

Details of the scheme and its application may be varied by written agreement between the Manager and the employee, provided these variations are in keeping with the purpose of scheme as defined above.

Each retention agreement will specify the period of notification by the employee of his/her intention to return to work (normally three months).

The agreement will also state the basis on which the employee will return, e.g. to full duties, reduced hours or job share.

The employee has the right to return to work under the same contracted terms as applied before entering into the Retainer Scheme agreement. This condition may however be waived by mutual agreement. Reduction of hours on return will normally be not less than half those worked before the agreement.

The agreement will specify arrangements for employees leaving the scheme and declining to return to work.

The agreement will be signed by both the Manager and the employee, both retaining a copy.

Effects of the Scheme on Other Terms and Conditions

Where the employee is retained without working, the period of the retention will not count as reckonable service  in the calculation of entitlement to annual, maternity, and sick leave, incremental credit or redundancy rights.

The employee may continue to enjoy certain Company benefits as agreed with the appropriate manager. These entitlements will be clearly laid out in the Retainer Agreement.

 

© Human Resource Solutions 2007

Don't let your biggest investment go!

Human Resource Solutions can help you to develop a suitable retainer package for employees who need a career break for whatever reason. This can help you to ensure they keep up-to-date and remain connected to your Organisation