Termination Pay: The ROI on Paying Someone to Leave

Does it really make sense to pay someone a lot of money in wages, vacation pay and even benefits just to get rid of them?

It sure does!

And smart HR people and corporate types know when to view termination pay as more of an investment – particularly as a type of insurance against costly, time-consuming lawsuits.

Termination pay can protect you legally and psychologically from lawsuits from angry ex-employees. And with companies laying off workers left and right these days, it doesn’t matter what the reason is—the economy, poor performance, or no real reason at all. The more people you’re laying off, the more you’re at risk for litigation as desperate and resentful job seekers look for ways to get money or just get even.

You may not be (and usually aren’t) legally obligated to give severance pay of any sort. However, if you want to soften the blow of being fired, termination pay can go a long way in sweetening the sour grapes a worker feels for being let go.

And a happier former employee is a less litigious former employee.

That’s where this eye-opening and accredited termination pay training session comes in. If you haven’t thought of termination pay as an investment before now or as insurance against disgruntled employees coming back and wasting your time and money in court, then this training session will open your eyes to the realities of termination pay benefits.

More than that, you’ll learn where most employers go wrong. How do you calculate a proper severance package without overpaying or underpaying someone for their years of service? And what types of benefits will give you the most bang for your buck? What do you do if an employee challenges that final paycheck?

What are the special circumstances and irregularities that most employers miss that can actually land you in hot water? How do you establish a fair and evenhanded severance package policy so that everyone is treated equally and no one can come back and claim discrimination?

It’s time to use termination pay as a way to leverage your position when you have to let people go, no matter what the reason is. Sign up today for this accredited termination pay training session to get information you can start applying in your own organization immediately. Close the door on lawsuits and make letting someone go a little easier on everyone involved.

Learning Objectives:

• What most employers forget! Create a checklist of items that should be included in employees’ final paychecks.
• How do you handle wage garnishments? Vacation pay? Understand how to calculate the tricky add-ins like vacation pay, business expenses and wage garnishments, so that you are in line with the law.
• Most common pitfalls employers make when offering termination pay and calculating final paychecks – and how YOU CAN AVOID THEM.
• Like any other business program, termination pay has its legal risks too. What are the specific steps you need to take to keep yourself out of hot water?
• How you can gain confidence from handling termination pay more successfully.
• How much protection from legal liability and risk does termination pay really give you? The numbers may surprise you.
• Get the answers you need to become the “go to” person in your organization for termination pay issues.

Presented by:

Mark D. Downey

Mark Downey is board certified in labor and employment law by the Texas Board of Legal Specialization. He focuses his practice on employment and labor, defending the management of several Fortune 100 companies and many smaller public and privately held corporations. He advises and trains clients on state and federal employment issues regarding employee benefits, discrimination, and wage and hour matters. Mark's experience has included appearances before state and federal agencies and regulatory boards, litigation in both state and federal courts, defense of class actions and appearances before courts of appeal. Some of these employment-related matters include age, race, national origin, disability and sex discrimination charges, sexual harassment claims, wrongful termination suits, defamation actions, family leave issues, employee benefits, health and safety matters, and wage and hour disputes. Mark is a frequent speaker and author on employment and labor related issues and assisted in the development of the employment law pattern jury instructions for use in the United States Court of Appeals for the Fifth Circuit.

Who would benefit from this program:

Continuing Education:

• This program has been approved for 1.5 recertification credit hours toward PHR and SPHR recertification through the Human Resource Recertification Institute (HRCI). Please note: HRCI credit is earned only by attending the live conference. For more information about certification or recertification, please visit the HRCI homepage at www.hrci.org.
• This Program is approved for 1.5 CM Continuing Education Credits. Please visit www.icpm.biz for more information.
• This is a CEU presentation. Earn 0.15 CEU credits for attending. For a list of organizations accepting this CEU, please visit http://www.iacet.org/content/accepting-ceus.html.

Product Options:

Audio Conference CD Only: $229.00 (includes S&H)

Length: 1 hour 30 minutes