Voluntary termination is when an employee decides to leave a job for various reasons, including finding a better position or personal reasons. It is important to give two weeks’ notice to maintain a good business relationship. Contracts can also be subject to voluntary termination, with potential fees involved.
Voluntary termination occurs when an employee decides to terminate employment at a job. The other way to leave a job is, of course, by involuntary termination, in which an employee is forced out by an employer. Employees may choose to leave a job for a variety of reasons: they may have found another position that better suits their ambitions and needs; they may no longer be able to work for personal reasons; they may not like working for the employer; or they may be retiring. Business etiquette typically requires an employee to give two weeks notice when voluntarily leaving a position. Voluntary termination can also refer to the decision to cancel a commercial contract.
In some cases, voluntary termination is a tactic used by an employee who wants to leave before being fired by an employer. By doing this, an employee will be able to leave a company in a way that feels more honorable and less embarrassing. Voluntary termination is often referred to as dismissal in these cases. One of the most famous examples of this type of voluntary termination occurred when US President Richard Nixon resigned from the presidency to avoid being impeached by Congress over the Watergate scandal.
Another special case of voluntary termination occurs in a fixed contract position, where an employee agrees to only work on a certain project for a fixed period of time. At the end of that project, the employment relationship is terminated, unless both parties find reasons to continue their relationship. Mandatory retirement is a variation on this situation, where a specific job requires an employee to retire by a certain age.
Generally, employers expect to receive at least two weeks’ notice in the event of voluntary termination. It is wise for employees not to violate this etiquette, as doing so can permanently damage a good business relationship. By remaining on good terms with an employer, an employee can maintain a strategic position in a company, which can be used in the event that an employee wants to be hired.
Contracts are also subject to voluntary termination. A customer, for example, might want to cancel his cable television or cell phone contract. Depending on the service being canceled and the terms of the contract, there may be a cancellation or separation fee that the customer must pay. A separation fee is usually involved when a customer agrees to pay for a service for a certain period of time; To protect itself, the company providing the service will apply a penalty for early termination of the contract.
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