What is Voluntary Separation Scheme?

A Voluntary Separation Scheme (VSS) is a program implemented by organizations, often in the public sector, that allows employees to voluntarily leave their positions, typically in exchange for financial incentives or severance packages. The scheme aims to reduce workforce size or restructure without resorting to mandatory layoffs. Employees who opt for VSS usually receive benefits such as a lump-sum payment, extended health coverage, or assistance with job placement. This approach helps organizations manage costs while providing employees with a choice in their departure.