• Sat. May 18th, 2024

Queen’s Faculty of Arts and Science Introduces New Voluntary Exit Incentive Program to Achieve Balanced Budget

BySamantha Jones

Mar 27, 2024
Offering a Voluntary Exit Incentive for Faculty of Arts and Science Staff

In order to achieve a balanced budget, Queen’s Faculty of Arts and Science (FAS) has introduced a new pilot program called Voluntary Exit Incentive (VEI) for eligible FAS staff. This program allows eligible employees to 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.

The VEI pilot program is just one of several measures that FAS has implemented to achieve a balanced operating budget. To be considered for the program, eligible staff must apply by April 30, 2024, and will receive notification of their approval status by May 10, 2024. More information on the incentive and eligibility criteria can be found on the newly established VEI pilot program website.

This initiative is only available to staff within the FAS faculty, as it is seen as the most urgent area where cost reductions are needed. If the program proves successful in generating cost savings while minimizing negative effects on employees, the university may decide to expand it to other areas if necessary.

It is important for eligible FAS staff members who are considering leaving their position to note that this pilot program is separate from the Voluntary Retirement Plan (VRP) announced earlier, which is open to eligible faculty, librarians, and archivists university-wide. For more information about both programs including frequently asked questions visit the Voluntary Exit Incentive (VEI) pilot program website.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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