Queen’s FAS Launches Voluntary Exit Incentive Program to Balance Budget: What You Need to Know

Voluntary Exit Incentive Offered to Faculty of Arts and Science Staff

The Queen’s Faculty of Arts and Science (FAS) has launched a Voluntary Exit Incentive (VEI) pilot program in an effort to balance their budget. The program is aimed at eligible FAS staff members who may 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.

Eligible staff must submit their application by April 30, 2024, and notifications of approval will be sent out by May 10, 2024. Detailed information about the incentive and staff eligibility criteria can be found on the newly created VEI pilot program website.

The VEI program is one of several cost-saving measures implemented by FAS to achieve a balanced operating budget. As the university’s current need for cost reductions is most pressing in the FAS, the pilot program is limited to staff from that department. If the initiative proves successful in achieving cost savings while minimizing impacts on employees, the university may expand the program to other areas if needed.

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

Leave a Reply