Severance Packages: A Guide for Employers

By Heather R. Huhman

In 2012, a whopping 44 percent of Americans were dissatisfied with their jobs. What’s more: many report being afraid to quit their jobs to find something better. That’s a lot of unhappy workers, but the solution may lie with employers themselves. If companies focus on creating great outplacement services in the form of employee severance packages, they can avoid any negative blows to their reputation and help former workers get back on their feet.

The infographic below, compiled by CareerShift, a comprehensive job search and career management solution, spells out exactly why a great severance package is important for employers and discharged workers. A few key points:
  • 60% of businesses have severance plans
  • 3-5% of companies provide retraining or relocation assistance
  • Most employers provide severance in the form of healthcare, financial planning, or financial compensation
  • Many discharged workers turn to the Web: daily Internet job search traffic is 33% higher than 2 years ago
Check out the full infographic below to learn more about how employers can ensure their outplacement services are up to par.

Heather R. Huhman is a career expert, experienced hiring manager, and founder & president of Come Recommended, a content marketing and digital PR consultancy for job search and human resources technologies.

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