6^th Annual Edition

Manual processing of employee resignations was resulting in several inconsistencies and errors for HR teams across Reliance Capital'This resulted in high turnaround times for the exit process, and made it impossible to track the progress of exits. Worse, full and final settlement sheets had to go through several rounds of modifications before they could be released. Phanasgaonkar came to HR's rescue by creating an employee exit management system. The system executes an event-driven process which tracks each resignation. It offers a unique and collaborative process which ensures correct governance, and sign-off practices to be followed during the termination process. The implementation of the solution has enabled RCL and its subsidiaries to cater to over 3,000 resignations a month. The settlement turnaround time has reduced from 90 to 21 days. The system not only ensures the application of correct procedures, but it also verifies proper documentation which can be retrieved for future reference.