In the seventh edition of the Lee Hecht Harrison and Compensation Resources Inc. Severance & Separation Benefits Benchmark Study, we look at the reasons why severance is offered, how severance is typically calculated at various levels of employment, and what common severance and separation benefits, such as outplacement and redeployment, are offered.
This study offers insights on trends and best practices related to severance and separation benefits. The information is designed to help you strategize, plan and implement your own organization’s practices. Our study provides the key benchmarks necessary to update or establish your organization’s severance and separation programs to remain competitive in today’s environment and ensure you are building and protecting your reputation as an employer of choice.
You can use the report as a tool to audit your own organization to better understand:
- Best practices for developing severance policy
- How your current severance benefits compare to benchmarks
- Best practices for designing career transition programs
- How well you are preparing exiting employees for successful transitions