GOLDEN HANDSHAKE Meaning and
Definition
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A golden handshake refers to a financial package or compensation agreement given to an employee by a company or organization, typically during a reorganization, downsizing, or in cases of retirement or resignation. It is a form of severance payment designed to provide financial security and incentives for departing employees.
This arrangement often entails a lump-sum payment, bonuses, or other benefits that are larger than the standard compensation package or statutory entitlements. The term "golden" is used metaphorically to emphasize the lucrative nature of the deal. The objective of a golden handshake is to incentivize employees to leave the organization voluntarily and smoothly, thereby reducing the potential negative influence of their departure on the company's operations.
Golden handshakes are frequently offered to high-ranking executives or employees who have contributed significantly to the company's success. They are seen as a gesture of appreciation for their years of service and loyalty. Additionally, golden handshakes can be strategic tools for companies to streamline their workforce, cut costs, or restructure certain departments.
However, the concept of a golden handshake has been subject to controversy due to potential misuse or abuse in certain circumstances, particularly when executives receive exorbitant compensations despite poor performance or unethical behavior. Consequently, many countries have introduced regulations and limitations to ensure transparency and fairness in the awarding of golden handshakes.
Common Misspellings for GOLDEN HANDSHAKE
- folden handshake
- volden handshake
- bolden handshake
- holden handshake
- yolden handshake
- tolden handshake
- gilden handshake
- gklden handshake
- gllden handshake
- gplden handshake
- g0lden handshake
- g9lden handshake
- gokden handshake
- gopden handshake
- gooden handshake
- golsen handshake
- golxen handshake
- golcen handshake
- golfen handshake
Etymology of GOLDEN HANDSHAKE
The term "golden handshake" originated in the late 19th century and combines the words "golden" and "handshake".
The word "golden" refers to something that is valuable, precious, or highly esteemed. It signifies the desirable or financially rewarding nature of the agreement being made.
On the other hand, a "handshake" symbolizes agreement, trust, and often serves as a customary gesture in friendly or professional interactions.
The combination of these two words creates "golden handshake", a phrase used to describe a generous financial incentive or severance package given to an employee upon retirement, resignation, or termination. It suggests a mutually beneficial parting agreement where the employee receives a significant sum of money or additional benefits in exchange for leaving the organization.
Idioms with the word GOLDEN HANDSHAKE
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a golden handshake
The idiom "a golden handshake" refers to a financial package or lucrative compensation received by an employee, usually a high-ranking executive or an employee who is leaving a company, as a form of retirement benefit, acknowledgment, or compensation for early termination of their employment contract. It typically involves a significant amount of money or substantial benefits offered in addition to any other entitlements the individual may have.
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golden handshake
A golden handshake is a large sum of money given as a financial incentive or reward to a person upon their retirement, resignation or termination from a company.
Similar spelling words for GOLDEN HANDSHAKE
- golden thread,
- golden saxifrage,
- golden pheasant,
- golden heather,
- golden groundsel,
- golden shiner,
- golden clematis,
- golden thistle,
- golden hamster,
- golden section,
- golden spleen.
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