The Revival of Last-Chance Agreements as an Alternative to Termination
With hiring costs as much as $5,000 per candidate, companies are looking for alternatives to immediate termination of their employees even when a serious violation has been committed in the workplace. One option being considered is the last-chance agreement.
In this article written by Steve Loewengart, he explains what a last-chance agreement is, when such a document is appropriate and how an LCA should be drafted.
“LCAs can be useful tools for dealing with workplace misconduct when drafted and used correctly. With the renewed focus on the cost of hiring and retaining qualified employees, LCAs can be an additional tool that gives employers further flexibility in responding to misconduct in the workplace” says Loewengart.
To read the full article, visit Ohio Matters Publications.