Sat. Jun 22nd, 2024
Voluntary Exit Incentive Offered to Faculty of Arts and Science Staff

Queen’s Faculty of Arts and Science (FAS) has recently launched a Voluntary Exit Incentive (VEI) pilot program in an effort to achieve a balanced budget. This program is open to eligible FAS staff members who may voluntarily leave their position in exchange for a lump sum payment equivalent to four weeks of regular salary per completed year of service, up to a maximum of 52 weeks for longer-serving employees.

Eligible staff must submit their application by April 30, 2024, and notifications of approval will be sent out by May 10, 2024. Detailed information about the incentive and staff eligibility criteria can be found on the newly created VEI pilot program website.

The VEI program is one of several cost-saving measures implemented by FAS to achieve a balanced operating budget. As the university’s current need for cost reductions is most pressing in the FAS, the pilot program is limited to staff from that department. If the initiative proves successful in achieving cost savings while minimizing impacts on employees, the university may expand the program to other areas if needed.

It is important to note that the VEI program for FAS staff is separate from the Voluntary Retirement Plan (VRP) announced earlier, which is available to eligible faculty, librarians, and archivists university-wide. For more information on both programs, including frequently asked questions and updates on the VEI pilot program, visit their respective websites.

Overall, this new initiative aims to help balance Queen’s budget while also providing incentives for eligible staff members who may wish to explore new career opportunities or take some time off from work.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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