Living Pattern of VRS Opted Employees – A Study

Abstract

In the last one decade, the Voluntary Retirement Scheme (VRS) has emerged as the situational compulsion for the basic survival of industrial organisations in India. As a result, thousands of workers are losing their jobs and overnight becoming rootless socially, psychologically and economically. There are instances in which after opting VRS, some people have been murdered by their children due to refusal to give the VRS fund, some have been driven out from homes, and some have died being ill treated, and uncared by their children and family members. The paper based on a survey of VRS opted employees discusses the issues like: (i) Why people opt VRS?; (ii) How they utilised their VRS fund?; (iii) How they find their decision to opt VRS? and (iv) How they are spending their post VRS living and accordingly suggestions have been made both to overcome the problems.