Senior executive hiring and firing: issues to consider when onboarding a senior executive
HR managers have to deal with a range of challenging situations from collective redundancies to disciplinary hearings, but senior executive hiring remains an area that is particularly fraught. What makes the appointment of a senior executive such an intense experience? What are the key points that always arise when negotiating their service agreements, in addition to the financials?
Part of the problem is that HR is often asked to get involved at the point when decisions have been made and events have gathered such a momentum that the appointment has to happen within a relatively short period of time. It is not uncommon for the incumbent to remain in post at that point, blissfully unaware that his replacement is already waiting in the wings and that he will be shown the door or put on garden leave within 24 hours.
The departure of the incumbent brings into sharp relief the provisions that are most important when negotiating the new appointee’s service agreement. With a new hire lined up and ready to start, the company will want to get the incumbent out of the office swiftly, by putting them on garden leave or making a payment in lieu of notice. When negotiating the contract for the new hire, it is important to ensure that the company has maximum flexibility in an exit situation…
Click on the link below to read the rest of the Addleshaw Goddard briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Addleshaw Goddard
News from The Lawyer
Briefings from Addleshaw Goddard
Neither financial services firms nor law firms should underestimate the cultural sea-change in behaviour the FCA expects.
Also: retrospective alternative service of claim form; judicial comment on costs budgeting; and more.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
Could Slater & Gordon achieve its stated aim of becoming a top consumer brand by acquiring Pannone?