Queen’s University FAS Introduces Voluntary Exit Incentive Program to Balance Budget

Voluntary Exit Incentive Offered to Faculty of Arts and Science Staff

The Queen’s University Faculty of Arts and Science (FAS) has recently introduced a new program aimed at achieving a balanced budget. This pilot program, known as the Voluntary Exit Incentive (VEI), is designed to encourage eligible FAS staff members to voluntarily leave their positions 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. More information about the incentive and eligibility criteria can be found on the newly created VEI pilot program website.

The VEI program is just one of several cost-saving measures implemented by FAS in an effort to reach a balanced operating budget. Due to the university’s current need for cost reductions being most pressing in the FAS, the pilot program is currently limited to staff from that department. However, if the initiative proves successful in achieving cost savings while minimizing impacts on employees, it may be expanded to other areas if needed.

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

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