The current pace at which the business world is changing is unprecedented—a pace that results in constant reassessment of organizational goals and focus. As the economy continues to fluctuate, and the economic future remains uncertain, eliminating positions remains commonplace.
Commonness, however, does not make the elimination of positions any easier on the worker whose job is disappearing. Therefore, many organizations offer severance packages to ease the transition between roles, temper negative sentiment on the part of the impacted employee, and mitigate legal risk to the company.
This guide looks at benchmarking data regarding the state of severance across US industries and geographies, designed to help companies plan for competitive severance, benefits, and outplacement offerings in the context of enterprise competitors and peers.