Companies offer severance packages to outgoing employees for good reason. Not only do the packages help employees as they transition to new positions, but they also benefit the company by helping to reduce the risk of lawsuits, lower unemployment costs, and protect employer brand. In the social media age, severance packages have become even more important. Organizations offer them to protect their online reputations on Glassdoor, Facebook, and other platforms, because the shared opinions of employees can affect everything from talent recruiting to customer loyalty.
Whether your organization is creating a severance package from scratch or updating an existing one, our Complete Guide to Severance Packages can help. With 19 pages detailing the whats, whys, whens, and hows of severance packages, this guide will serve as a handy resource as you craft the best severance package for your company.
Download the guide now and get in-depth answers to your questions:
- What is a severance package?
- When are companies are required to provide severance packages?
- Why provide a severance package?
- What benefits should my company include in a severance package?
- What should my company include in a severance agreement?
- How and when should my company offer a severance package?