HR Glossary
What is Retrenchment Benefits (Singapore)?
Financial compensation paid to retrenched employees in Singapore, typically calculated at two weeks to one month of salary per year of service, guided by MOM tripartite advisories rather than statutory mandate.
Why it matters in hiring
Retrenchment Benefits (Singapore) comes up whenever teams compare candidates, set policy or report on people data. Getting the definition right keeps decisions consistent, which is the same reason springhire scores every applicant against the same criteria rather than on impression.
Related terms starting with R
- Retention Bonus
- Retention Package
- Retention Strategy
- Retirement and Re-employment Act (Singapore)
- Return of Company Property
- Right to be Forgotten
- Right to Work Check
- ROE - Record of Employment (Canada)
Part of the springhire HR glossary, 1,150+ HR, payroll and recruiting terms defined. Free, no signup.
