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Older Workers Benefit Protection Act: What It Is and Why It Matters

Careerminds

The Older Workers Benefit Protection Act also applies to: Early retirement plans Exit incentive programs Voluntary resignations connected to severance packages To remain compliant, employers must offer something of value—often called “consideration”—in exchange for a signed release of claims. COBRA ), bonuses, or outplacement services.

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How to Calculate Severance Pay for Commission-Based Workers

Careerminds

We strongly recommend pairing severance payments with outplacement services. Are bonuses included? What about incentives for hitting specific sales targets? Important: When determining severance for commission-only workers, its crucial to account for unpaid commissions and bonuses.

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HR in Mergers and Acquisitions: What HR Leaders Need To Know

AIHR

Continue retention initiatives to prevent high-performers from leaving prematurely through stay bonuses, development opportunities, or inclusion in early decision-making. Without early retention efforts, such as stay bonuses, recognition, or clear role mapping, organizations risk losing staff essential for a successful integration.

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Employee Relocation Letter: How to Inform Staff of a Location Change (with Template)

Careerminds

This could include a bonus incentive, moving reimbursements, etc. Taxes Since bonuses are often taxed differently, and moving locations could affect how people are taxed in different states or counties, make sure to let your employees know that you will be providing them with the proper tax documentation for filing in the following year.

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Forget the Cash: 5 Thoughtful Ways to Reward Employees

Cornerstone On Demand

In fact, the best organizations recognize and reward employees at all levels with incentives that go beyond year-end cash awards, says Jim Greenway, executive vice president, marketing and sales effectiveness for Lee Hecht Harrison , a global career transition and outplacement organization.

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Layoff Survival Checklist: How to Retain Talent & Manage Reputation Post-Layoff

Intoo USA

Employees who were provided outplacement after a layoff are 3x more likely to continue purchasing that company’s offerings after the separation event. Consider incentives. Administer performance-based incentives. Provide outplacement services to help exiting employees land new roles more quickly. exit interview).

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How is Severance Pay Determined? How to Calculate Severance

Intoo USA

All of these reasons serve as strong incentives for companies to offer severance pay. Forbes points out that severance pay is just one part of a bigger severance package, which can include extension of health and other benefits, retirement benefits, stock options, and outplacement services to help departing employees find new jobs.