Forgot your password?

Obtaining Severance Packages after Being Terminated at Work

By Edited Feb 10, 2014 0 0

In the workplace, many employees consider termination as the "end of everything". This is because during termination, an employee loses his job, source of income, and source of stress – something many people (maybe a few) can't live without.

Seriously, termination is one of the issues that are only seen in a negative point-of-view. Even if the employer has a very good reason for the termination, he is often regarded as hard-hearted, inconsiderate, and selfish. If this continues, the company's image may be affected by former employees who are bitter because they were laid-off and terminated. Fortunately, there is a way to stop this.

If you are an employer, you may be considering providing severance packages to your terminated employees. This is not a bad idea at all. If they are able to get something from you when they leave, they would not find it very difficult to recover and look for a new job. Here are some things and services that you may provide your employees once they got terminated:

  • Insurance policies – This may include house and auto insurance policies. Even if they are not money, they can put a smile on your former employee's face.
  • Pay for unused sick leaves – If the employee rarely misses work days, you may give him additional benefits and pay him for his unused vacation and sick leaves.
  • Retirement benefits – This is the most common type of benefit that is given as a severance package. The amount of retirement benefit usually depends on the former employee's position in the company.
  • Medical benefits – Medical and dental benefits are offers that add up to severance package benefits. These may not be much, but they still help the terminated employee move on.
  • Gadgets and appliances – If you are the generous type, you may even provide your terminated employees mobile phones, laptops, refrigerators and microwave ovens.

Even in the termination of a worker, the employee should still consider the welfare of the company. Providing a severance package is definitely a helpful solution to this problem. However there are still some things you need to consider to avoid having other issues.

While offering severance packages may be helpful, it is not advisable to include them in the employee manual and contract. If you do this, you are making an implied contract. If you failed to give the severance package for some reason, you may be held liable for a breach of contract. If you want to know more about employment issues, you can seek legal advice from a Los Angeles employment lawyer.



Add a new comment - No HTML
You must be logged in and verified to post a comment. Please log in or sign up to comment.

Explore InfoBarrel

Auto Business & Money Entertainment Environment Health History Home & Garden InfoBarrel University Lifestyle Sports Technology Travel & Places
© Copyright 2008 - 2016 by Hinzie Media Inc. Terms of Service Privacy Policy XML Sitemap

Follow IB Business & Money