Severance Packages What Employers Should Know - Blog Job Hunting Career Management Solutions

Severance Packages What Employers Should Know Employees leave companies around the world every day, for a variety of reasons ranging from personal life changes to employer dissatisfaction. For companies, maintaining a positive relationship with these discharged workers can be tough. Business reputation is on the line if they don’t help former workers to get back on their feet but a carefully created severance package can help. Weve compiled the infographic below to help employers understand the importance of employee severance packages and outplacement services for recently discharged workers. A few key points: 60% of businesses have severance plans 3-4% of U.S. companies provide discharged workers with skills retraining Most often, severance pay is offered as a lump payment Larger companies typically offer more formalized severance packages Many discharged workers turn to job search software: daily Internet job search traffic is 33% higher than 2 years ago Check out our full infographic below for more information on how employers can improve severance packages and employee outplacement services.