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.
We’ve 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.
Val Matta
Val Matta, Managing Director of CareerShift, co-founded the company in 2005 to help individuals bridge the gap between education and employment. As a recognized expert in the field, Val is a frequent speaker on career management, networking, and job hunting strategies. You can connect with her and the CareerShift team on Facebook, LinkedIn, and Twitter.
