Master Data - Termination Reason

What is Termination Reason?

Termination Reason defines different reason on why a staff leave the company. It is required when End Date is inserted at Placement profile.

What can be defined in Termination Reason?

Termination Reason Code: a short code to represent a Termination Reason.

Termination Reason Name: full name of the Termination Reason

HSBC MPF Code: for companies using HSBC MPF Service only. HSBC has its own set of Termination Reason and is required when a staff is reported terminated. Please fill in the corresponding HSBC MPF code according to its nature.

Termination Nature:

• Undefined: indicating this is a typical termination reason
• Internal Transfer: indicating this is an internal transfer. When doing "Internal Transfer", the system will locate the termination reason with nature = Internal Transfer and assign this as termination reason.

Is Qualified For Long Service Payment?: If enabled, the system would calculate the Long Service Payment amount in final payment(if the formula is set) when the staff leave with this termination reason.

Remarks: add your own comments.

What's Next?

• Define your own set of Termination Reasons
• Assign Termination Reason when a staff is terminated