What is the difference between separation and termination?
A separated employee is one who leaves an employment situation for any reason, whether voluntary or involuntary. A terminated employee is involuntarily let go, usually because of poor performance or lack of work.
What is a good severance package?
The severance pay offered is typically one to two weeks for every year worked, but can be more. The general practice is to try to get four weeks of severance pay for each year worked. Middle managers and executives usually receive a higher amount. Some executives, for example, may receive pay for more than a year.
What is a voluntary separation package?
What is voluntary redundancy? Voluntary redundancy packages are usually offered to senior employees or employees who have rendered more than 10 years of service, although employees, in general, have the option of applying for voluntary redundancy.
How do I ask for a voluntary layoff?
You can take your voluntary layoff proposal either to your direct manager or your company’s human resources department. If you and your manager have a good relationship, he can help you navigate the details of the layoff. However, if you don’t have a good relationship, approach someone in human resources instead.
Should I take a voluntary separation package?
If you look at the question “Should I take the package?” from a pure risk-management standpoint, then you should take the package, because if you take it you are guaranteed four months of income, and if you pass on the package you are not guaranteed four months or even four weeks.