Pink slip is a term used to refer to a notice that is given to an employee for dismissal. It is basically an official notification. The notice states that the employee has been eliminated from the services and that his services are no longer required. It can also be considered as an informal term for a termination letter.
In simple words, it means that you are fired. It isn’t welcomed by the employees for most of the people due to obvious reasons.
In this glossary, we further cover-
Let’s look at them below, one at a time
Why is pink slip called so?
The term pink slip is used so commonly as it is an American expression. If you look at pink slip meaning, it is used to describe termination notice given by an employer to an employee. Because of so many layoffs, you can also say that company or job marketplace is awash in pink as so many pink slips are being issued.
You can use workforce management software to trigger the termination process digitally.
How does a pink slip work?
Pink slip is just an informal term used to talk about termination notice. It is clearly not welcomed by the employee but something that an employer does only when they have no other option left. The Pink slip in HR acts as a termination period for the employee it has been given to.