Both Sunday's announcement by Walmart to cut 10,000 Sam's Club jobs and the Department of Labor's latest report of the still growing state unemployment rates are evidence that our economy is far from turning around.
As companies continue to scale down, the resources they maintain are forced to assume greater responsibility for ongoing business functions. Also very important as companies continue to shrink is the regulatory compliance of these ongoing functions, primarily within Human Resources, an area often posing significant risk to employers during periods of large force reductions.
Severance management is a Human Resource function which, when outsourced, can significantly relieve a business of the necessary yet burdensome administration involved with both big cutback and minor reorganizations. Providing meaningful benefits and quality care to terminated employees can be difficult for a changing business. Outsourcing program design and payment processing frees a company's internal resources to concentrate on more pressing business issues, and more importantly, providing terminated employees with expert support and constant contact has proven to reduce the risk for a termed employee to bring forth litigation or other less desirable behaviors upon the former employer.
Outsourcing HR functions has become a best practice. An outsourcing partnership with a severance management expert can provide a struggling business with relief at a time when relief is welcome.
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