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Undestand About Severance Packages

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Severance packages are one of the most common forms of employment advice given by companies in the country. Unfortunately not everyone takes them to their full potential and end up as a disappointment when it comes to receiving their fair share of the redundancy pie. This article is going to explain how severance packages work, who qualifies for them and why companies use them. What are they? check this link right here now A severance package is basically payment and redundancy compensation which employees can be eligible to receive if they leave a company ungrateful whilst still working. It’s a simple yet controversial way to make employees feel better about leaving the organisation and also to avoid the high expense of having to find a new job.

In theory it should make any employee feel happy to leave the company, yet there are several factors which could actually prevent this. Firstly, if you leave the company whilst still employed there is a certain period during which you are not entitled to receive any redundancy payments. This is because these payments are linked to when the employee has been with the company for a fixed length of time. If you leave the company after less than a year, you cannot expect to be awarded these payments.

This is why severance packages are so important. They give employees a financial incentive to stay with the company, allowing them to build up some confidence in their position before they begin searching for new opportunities elsewhere. On the other hand, if you leave whilst still employed there is no financial incentive to keep on working. In fact, you have no obligation to work at all! This means that not only does it remove the worry of redundancy but it gives you free rein to search for a new position without being under pressure from your current employer to commit to longer hours or do extra training.

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