FAQs for Admins - Migration to Oyster-owned entity

Hyun Cho
Hyun Cho
  • Updated
  1. How will the migration affect health benefits?
    There will be no impact on health benefits. If your team member was previously enrolled with SafetyWing or IMG, you will continue to be enrolled there. 

  2. Why is the holiday being paid out and not carrying over to the new employer?

    This is a normal process of any resignation. Your team member is ending their employment with their current employer and joining Oyster. With Oyster as the new employer, your team member will start to accrue leave for the remainder of the year.

  3. But what if my team member already has leave booked in the latter part of 2022 - will they be paid as normal?

    The answer is maybe. It will depend on whether or not your team member has enough leave days to take as part of their normal allowance. If not, the days may be taken as unpaid, but remember - they will have already been paid for the untaken but accrued days from the first part of the year with their original employer.

  4. How will my team member be paid for the accrued but untaken annual leave?

    Their current employer will confirm their accrued but untaken leave days and will pay them as part of their normal offboarding pay cycle. Please ask your team member to check with their current employer to find out how this will work.

  5. What will happen to any bonuses or allowances and accrued holidays and leaves?
    Any accrued bonus and allowance, as well as unused holidays will be paid along with their last salary payment with the third-party employer.

  6. Can my team member decide to use the vacation days left instead of having them paid out?
    Your team members can use remaining vacation days as long as their request for time off is approved by the cut-off date for the final month of employment (See: What are cut off dates?). No vacation days can be cancelled or added after the cut-off date. 

  7. Will my team member's job description or job title need to change?
    This will depend on your team member's job title. Whilst we aim to keep everything exactly the same for all team members, we may need to make slight adjustments to some job titles. Don't worry though - the roles will stay the same. We'll inform you of the very specific instances where this might be required.

  8. How will my team members payroll be impacted?
    No changes will happen on the payroll front. Your Team Member’s salary including any bonuses and allowances will be prorated and paid by the agreed end date with the third-party employer. 
  9. What is the timeframe for the migration from the local partner and onboarding into the Oyster owned entity?
    Overview of migration schedule (dates are approximate only):

June 21st - July 11th

Pre-migration communication to Team Members

July 11th - July 31st

Team Members submit resignation form to the third party employer and sign new employment agreement with Oyster

Mid Aug - Oct 31st

Team Members are onboarded into the Oyster owned entity immediately after the end of their notice period. Notice periods can vary between 1 month to 3 months. 

Team Members receive payment for vacation days accrued but not taken from the previous employer.


Was this article helpful?

0 out of 0 found this helpful

Have more questions? Submit a request