Talent Management - January 2009 - (Page 37) SEVERANCE PRACTICES VARY THE WORLD OVER • Severance and termination policies are primarily governed by a combination of company policy and local/ national law (62 percent). • Most companies (62 percent) are required by law to give a certain amount of advanced notification to the separating employee. • More than half (58 percent) have a formal, written severance policy. • Eligibility for severance differs by region. More than half of companies in the Americas (54 percent) have no minimum requirement, as do few companies in Europe (32 percent) and Asia Pacific (34 percent). • Top executives earn the most severance per year, whether voluntarily (3.39 weeks per year) or involuntarily separated (3.52 weeks per year). • Severance is most frequently offered throughout the world as a lump-sum payment. • More than half (56 percent) of companies put a cap on the severance calculation. • The most common benefits in a severance package are assistance programs such as outplacement and financial planning, continued benefits such as health care and financial compensation and, to a lesser extent, company resources such as an office or car. • Seventy-three percent of terminated employees are required to sign a waiver before they can access severance benefits. • Although not legally required, most companies (73 percent) provide outplacement services. Source: Right Management, “Severance Practices Around the World,” 2008 January 2009 talent management magazine www.talentmgt.com 37
Table of Contents Feed for the Digital Edition of Talent Management - January 2009 Talent Management - January 2009 Editor’s Letter Contents Human Performance Leading Edge Learning Connections Integrate Web 2.0 Into the On-Boarding Experience Show ’Em the Money: Compensation Trends 2009 Transition at the Top How Hollywood Manages Talent and What You Can Learn Get the Most Bang With Limited Training Bucks Life After Layoffs Attract Specific Talent Groups Performance Management: Its Time Is Now Helping the Helpers Advertisers’ Index Editorial Resources Full Potential Talent Management - January 2009 Talent Management - January 2009 - Talent Management - January 2009 (Page Cover1) Talent Management - January 2009 - Talent Management - January 2009 (Page Cover2) Talent Management - January 2009 - Talent Management - January 2009 (Page 3) Talent Management - January 2009 - Editor’s Letter (Page 4) Talent Management - January 2009 - Editor’s Letter (Page 5) Talent Management - January 2009 - Editor’s Letter (Page 6) Talent Management - January 2009 - Editor’s Letter (Page 7) Talent Management - January 2009 - Contents (Page 8) Talent Management - January 2009 - Contents (Page 9) Talent Management - January 2009 - Human Performance (Page 10) Talent Management - January 2009 - Human Performance (Page 11) Talent Management - January 2009 - Leading Edge (Page 12) Talent Management - January 2009 - Leading Edge (Page 13) Talent Management - January 2009 - Learning Connections (Page 14) Talent Management - January 2009 - Learning Connections (Page 15) Talent Management - January 2009 - Learning Connections (Page 16) Talent Management - January 2009 - Learning Connections (Page 17) Talent Management - January 2009 - Integrate Web 2.0 Into the On-Boarding Experience (Page 18) Talent Management - January 2009 - Integrate Web 2.0 Into the On-Boarding Experience (Page 19) Talent Management - January 2009 - Show ’Em the Money: Compensation Trends 2009 (Page 20) Talent Management - January 2009 - Show ’Em the Money: Compensation Trends 2009 (Page 21) Talent Management - January 2009 - Show ’Em the Money: Compensation Trends 2009 (Page 22) Talent Management - January 2009 - Show ’Em the Money: Compensation Trends 2009 (Page 23) Talent Management - January 2009 - Transition at the Top (Page 24) Talent Management - January 2009 - Transition at the Top (Page 25) Talent Management - January 2009 - Transition at the Top (Page 26) Talent Management - January 2009 - Transition at the Top (Page 27) Talent Management - January 2009 - Transition at the Top (Page 28) Talent Management - January 2009 - Transition at the Top (Page 29) Talent Management - January 2009 - How Hollywood Manages Talent and What You Can Learn (Page 30) Talent Management - January 2009 - How Hollywood Manages Talent and What You Can Learn (Page 31) Talent Management - January 2009 - How Hollywood Manages Talent and What You Can Learn (Page 32) Talent Management - January 2009 - How Hollywood Manages Talent and What You Can Learn (Page 33) Talent Management - January 2009 - Get the Most Bang With Limited Training Bucks (Page 34) Talent Management - January 2009 - Get the Most Bang With Limited Training Bucks (Page 35) Talent Management - January 2009 - Life After Layoffs (Page 36) Talent Management - January 2009 - Life After Layoffs (Page 37) Talent Management - January 2009 - Life After Layoffs (Page 38) Talent Management - January 2009 - Life After Layoffs (Page 39) Talent Management - January 2009 - Attract Specific Talent Groups (Page 40) Talent Management - January 2009 - Attract Specific Talent Groups (Page 41) Talent Management - January 2009 - Performance Management: Its Time Is Now (Page 42) Talent Management - January 2009 - Performance Management: Its Time Is Now (Page 43) Talent Management - January 2009 - Performance Management: Its Time Is Now (Page 44) Talent Management - January 2009 - Performance Management: Its Time Is Now (Page 45) Talent Management - January 2009 - Helping the Helpers (Page 46) Talent Management - January 2009 - Helping the Helpers (Page 47) Talent Management - January 2009 - Helping the Helpers (Page 48) Talent Management - January 2009 - Editorial Resources (Page 49) Talent Management - January 2009 - Full Potential (Page 50) Talent Management - January 2009 - Full Potential (Page Cover3) Talent Management - January 2009 - Full Potential (Page Cover4)
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