If you are a new employee at oracle, doubts about oracle’s termination policy might have surrounded you many times as well. So, to let you free from all the tension about its termination process, we have written this article. The topic is ‘Oracle Termination Policy’.
Oracle as an employer
Oracle corporations develop and sell computer software to businesses. It started in 1977 with the name “Software Development Laboratories”. The company is headquartered in the redwood shores, California.
There is no doubt that oracle could achieve milestones like acquiring Java, Solaris, and Sun Microsystems only because of its employees. According to the Metro MBA, there are 10,000 employees in 175 countries working for oracle.
Before knowing about its termination policy, let’s look at how oracle as an employer is actually.
Termination procedure
You once decided to terminate any employee because of any situation. You must follow some set of rules to terminate any employee from oracle.
Specify the objective for termination – put the clear and logical reasons for termination of any employee.
Consent on the termination policy – the termination policy, informing all the grounds (including all rules about termination) must be signed by the employees.
Reviewing employee performance – by doing a review of the employee performance, you will be able to decide whether the employee is bringing any good to the organization or not.
Disclose it to the employee – inform the employee before the official notice. So that they can prepare for the situation after their termination. You can choose to inform it personally or via phone call or any private meeting.
Severance package – According to the Collins dictionary, a severance package is compensation that an organization pays its employee who wants to leave the organization because their term has ended.
Provide the severance package according to the company’s rules.
Parting away – after completing all the official termination process. Try to end the relationship on good notes. Provide the employee with a proper farewell message and give them their feedback and get their feedback about the company.
Types of termination
Voluntary termination
Here, the employee takes the first step for termination. And it can happen because of many reasons such as work-life imbalance, fewer growth opportunities or fewer salary issues, etc.
Involuntary termination
In this case, the employer wants to remove the employee from the organization. The reasons could be any of the following. Like violating company rules and regulations, low performance, they don’t fit in the company environment.
Employment at will
When an employer terminates an employee at any place and without giving any reason, then it’s employment at will. Here the employer might not tell the reason for termination to the employee, but the employer must document the reason himself.
Mutual termination
In this type of termination, both employer and employee mutually agree on the fact that they are not a good fit for each other. This termination process is easy as both parties agree about the termination process.
So, the above types must have cleared your doubts about why any employee can get terminated from any organization, including oracle.
Termination process at the oracle
If you are the employer or the HR, then after deciding on termination of any employee, first you have to document the information so that things can glide. Now, let us look at the procedure that the oracle follows.
This is an optional step. In the termination window, you can put the reason for terminating an employee under LEAV_REAS.
You have to enter the actual termination date. You have to enter the date on which the employee’s status will be ex-employee.
If any payroll is left, then enter the date when you are going to pay that employee in the final date section. You can set this date after the actual date of termination. No payroll is left after the final date.
In the oracle payroll system, you enter the Last Standard Process Date. The Last Standard Process Date is the last date of any process, whereas the final process date is the date of the last payment.
After entering all the dates, including actual, final, and last standard process dates, you can complete the termination by clicking the terminate button.
To cancel a termination
If the employee or employee wants to back off before the termination or if the leaving date of the employee gets changed, you can cancel the termination.
If you want to cancel the termination then, visit the terminal window and then choose the reverse termination tab.
Alternatively, if you want to change the termination date, then first you have to reverse the termination. Then you can enter the new actual termination date.
Conclusion
Termination is a decision that we as employees or employers have to take at one point in time. An employer or employee chooses termination for many reasons. Oracle has made it simple to document and save the termination information through their termination software. The oracle software also understands that there can be mistakes in the termination process, so they have generated a reverse termination option.
Frequently Asked Questions (FAQs)
Q.1: Do I have a chance to get rehired after termination from oracle?
Yes, the oracle can rehire its ex-employees. If the employee’s behavior and performance are good, then the oracle might rehire the terminated employees.
Q.2: What’s the difference between terminated and fired?
Termination means the end of the contract or term of employment with an organization, whereas fired means the employee has been laid off from the job.
Q.3: What is the rating of the oracle?
Ratings at indeed.com rate employee experience at oracle as following.
Work-life balance – 3.9 stars.
For pay and benefits, it gained 3.6 stars.
3.4 stars for job security and advancement chances.
For the company culture, oracle gets 3.4 stars.
Also, read What is Honeywell Termination Policy?
