I am working in a consultancy IT company and have received a job offer from an MNC. The offer letter mentions a buyout option, but my current company is forcing me to serve more than 75 days, while my future company can wait up to 50 days. I have tried all options to convince my current employer, but without success.
Notice Period Details According to Offer Letter
During your employment with XYZ company, including probation/training, either you or XYZ company can terminate the appointment by giving 90 calendar days' written notice or three months' full salary in lieu of the notice.
I have 15 more days to join the new company, but I have not yet informed them that my current employer is not accepting the release in 50 days or the buyout option. Please suggest what I should do.
Regards
From India, Chennai
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Notice Period Details According to Offer Letter
During your employment with XYZ company, including probation/training, either you or XYZ company can terminate the appointment by giving 90 calendar days' written notice or three months' full salary in lieu of the notice.
I have 15 more days to join the new company, but I have not yet informed them that my current employer is not accepting the release in 50 days or the buyout option. Please suggest what I should do.
Regards
From India, Chennai
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Raise the level to the highest in the current employer through clear written communication. Seek an appointment with them to explain your problem. The company is legally bound to follow the agreement as laid down in the appointment order.
From India, Pune
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3180From India, Pune
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Also keep your new HR posted with this situation. Strongly recommended.
From India, Mumbai
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From India, Mumbai
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Considerations for Early Exit in IT Sector
While Nathrao's suggestion seems to be the only option left for you, I am uncertain on what basis you committed or at least gave hope to the new MNC that you could join earlier.
You haven't mentioned your level, designation, or role. Those in lead roles in the IT sector are usually not relieved earlier due to the fear that this can create an imbalance in the team(s) and set a precedent.
Even otherwise, given the recruitment scenario in the IT sector today, most companies tend to use delayed relieving to deter the exit of employees. Since the joining time would have been overdue, the opportunity too would have lapsed, and the employee would end up continuing in the present company—right or wrong isn't an issue for them. This is more prevalent in small to mid-sized IT companies.
In case Nathrao's suggestion doesn't work for you, the only option I can see is for you to defer your exit plans and do better planning next time.
There's also another angle to your case. Generally, the current company makes a counter-offer to retain the individual. This doesn't seem to have happened in your case (at least you didn't mention it). If true, then it may also point out an underlying fact that you aren't so much sought-after but at the same time not someone who can be just let go—for whatever reason(s)... in a single phrase—just an 'average or above-average guy'.
The only option for you then would be to minimize your stay here to the best extent possible—chances of your next appraisal being affected are high.
All the best.
Regards, TS
From India, Hyderabad
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While Nathrao's suggestion seems to be the only option left for you, I am uncertain on what basis you committed or at least gave hope to the new MNC that you could join earlier.
You haven't mentioned your level, designation, or role. Those in lead roles in the IT sector are usually not relieved earlier due to the fear that this can create an imbalance in the team(s) and set a precedent.
Even otherwise, given the recruitment scenario in the IT sector today, most companies tend to use delayed relieving to deter the exit of employees. Since the joining time would have been overdue, the opportunity too would have lapsed, and the employee would end up continuing in the present company—right or wrong isn't an issue for them. This is more prevalent in small to mid-sized IT companies.
In case Nathrao's suggestion doesn't work for you, the only option I can see is for you to defer your exit plans and do better planning next time.
There's also another angle to your case. Generally, the current company makes a counter-offer to retain the individual. This doesn't seem to have happened in your case (at least you didn't mention it). If true, then it may also point out an underlying fact that you aren't so much sought-after but at the same time not someone who can be just let go—for whatever reason(s)... in a single phrase—just an 'average or above-average guy'.
The only option for you then would be to minimize your stay here to the best extent possible—chances of your next appraisal being affected are high.
All the best.
Regards, TS
From India, Hyderabad
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Notice Period Issue.zip
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