The employee and employment are two elements that an organization considers in order to get its jobs done. The employee is part of its work force and much needed human resource, but it has to pay for it. An employee only remains useful for an organization till it is making things happen for its organization. But later when the services of a worker become obsolete then it is decided that it must be released. The severance takes place in two cases in general, when an employee become unable to match its skills with advance systems or processes or when the tenure ends. There are many things that are managed in relation to a certain time period.
The project management is a solid example of this system and this is where employees are employed for a certain period of time and then are released after that. The employment severance agreement usually signed in such scenarios. The employees or a single person is asked to leave as per agreement. The severance agreement covers all details of work tenure the limit after which an employee is subjected to severance and also covers payment details as and when applied. The agreement makes it easier for an employee to prepare mentally for the severance before departing from its workplace.
Employment Severance Agreement Template
The agreement communicates to employees that all of the benefits or privileges will be terminated at a said date. The employee is also communicated to return any organizational documents that may have been with it before severance time reaches.
Create your own Printable Employment Severance Agreement Template by using the following sample,