a special incentive, as generous severance pay, given to an older employee as an inducement to elect early retirement.
the giving or offering of such an incentive.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
British Dictionary definitions for golden handshake
informal a sum of money, usually large, given to an employee, either on retirement in recognition of long or excellent service or as compensation for loss of employment
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Other Idioms and Phrases with golden handshake
Generous severance pay to an employee, often as an incentive for early retirement. For example, With a dwindling school population, the town decided to offer golden handshakes to some of the teachers. This slangy business term dates from the mid-1900s. A close relative is golden parachute, a generous severance agreement for an executive in the event of sudden dismissal owing to a merger or similar circumstance. This expression first appeared about 1980.
The American Heritage® Idioms Dictionary Copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.