Golden Handshake

A financial incentive or compensation package offered by a company to a senior executive or employee as part of their retirement or resignation package. It is usually a lump sum payment that rewards the employee for their service and encourages a smooth transition. The term “golden handshake” refers to the idea of receiving a parting gift or a “golden” reward, similar to a handshake signifying a successful and amicable separation. It is often used as a way to retain executives and ensure a smooth transition of power.

In business coaching, a golden handshake refers to a compensation package designed to entice an individual to leave their current job for a new opportunity. Coaches may work with clients to evaluate whether accepting such an offer aligns with their overall career goals, and help them navigate the negotiation process to secure the most advantageous terms possible. Through this process, coaches can help clients weigh the potential benefits and drawbacks of accepting a golden handshake, and develop strategies for leveraging such opportunities to advance their careers.

Golden Handshake DEFINITION:

1.Financial incentives or benefits designed to keep employees from leaving a company. 2.A situation where an employee feels trapped in their current job due to the financial consequences of leaving.

Golden Handshake QUOTE:

1."A golden handshake: the reward for leaving a job you didn't like." 2."A golden handshake: when your boss gives you a big check to get rid of you, but you're not complaining."