Can you share a high-level summary of your company's severance benefits if you offer them for low performance/skills mismatch? Ideally in the healthcare industry and specifically interested in seeing if severance amounts for performance are different than those for RIF or restructuring. We're doing some benchmarking to determine if ours are in line with others or not.
Sort by:
VP of HR17 days ago
We would offer severance due to performance based on the years of experience, usually starting at 2 weeks. We would also take into account what is considered the performance challenges.
For RIFs we have a calculation based on the country requirements. In the
US Minimum of 4 weeks. Additional +1 week severance for each six months thereafter with a maximum of 26 weeks. Cobra: Medical, dental, and vision coverage end the last day of the month of employment and pay COBRA fees to align with their months of severance up to 3 months.
Please see my poll on severance benefits for performance and please vote. Our severance policy is the same for RIF as performance, but looking to benchmark as well.