Notice Buyback refers to an agreement between an employer and employee where the employee agrees to forego their required notice period when resigning from their job in exchange for receiving compensation.

This means that the employee will be paid for the time they would have spent working during their notice period, but they are not required to actually work during that time.

Notice buyback can be useful for both employers and employees as it allows for a smoother transition and helps maintain positive relationships between both parties.