Infographic: An Introduction to Severance Packages

Nobody loves employee turnover. But for countless reasons—personal changes, lay-offs, new opportunities, etc.—every day employees around the world leave their present employer to go on to new adventures. But when a worker leaves, it can be tough to keep up a positive relationship, which can harm your company's reputation, hurt your chances of getting future referral hires, and even put you at risk for lawsuit. Fortunately, a great severance package can help.

The infographic below, compiled by job hunting and career management solution CareerShift, spells out exactly why organizations need to focus on the severance packages they provide terminated workers. Some takeaways to note:

  • 60% of businesses have severance packages in place
  • 3–5% of companies provide discharged employees with relocation assistance
  • 56% of companies put a cap on the amount of benefits included in outplacement services
  • Healthcare, financial planning, and financial compensation are the most common benefits provided

Check out the full infographic below, and don't forget to share!

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