Severance Policy

Employees part ways with organizations for a variety of reasons. Some of these reasons are simple: finding a job elsewhere, taking time off to spend with the family, or relocating to a different state. But some separations are more complex: a layoff due to company difficulties or reorganization, position elimination during a merger, or termination by the company for performance-related problems.

This policy, written by Scott Matteson for TechRepublic Premium, provides guidelines for providing severance pay and benefits to former employees. It addresses what constitutes acceptable grounds for offering or withholding severance packages and describes the requirements involved.

• Featured text from the download:
  ELIGIBILITY REQUIREMENTS
  Severance packages will be provided to employees who are laid off, whose positions are eliminated, or who resign under certain amicable circumstances (at the discretion of their manager and the HR department). These employees must have worked at least one year at the company to be eligible for severance packages.
  Severance packages may be provided to employees who are terminated for performance-related issues (failure to perform work duties that meet the expectations of the organization). However, this will occur only at the discretion of the employee’s manager and HR.
  Whenever possible, it should be made a condition that employees remain at the company for two weeks to reassign, document, and complete any existing tasks to smooth the transition.

Enhance your business operations with our five-page document. This is available for download at just $19. Alternatively, enjoy complimentary access with a Premium annual subscription.

TIME SAVED: Crafting this content required 10 hours of dedicated writing, editing, research, and design.

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