How Much Effort and Expense Should You Focus on Former Employees?
During periods of business change, especially restructuring, the last thing most organizations want to focus on is resources, capital, and time on layoff administration. Many companies have realized that outsourcing much of the process is the best way to keep valuable resources focused on resolving issues that lead to layoffs in the first place. The question is how to move non core-competency programs like severance outside of the organization without incurring additional costs and hassles?
The Intelligent Approach to Severance Plan Design and Administration
What if severance programs could essentially be designed to pay for themselves? And what if they could be administered and managed by a team of severance experts in a completely transparent manner for HR and plan administrators. Imagine plan design orchestrated to fit the unique needs of your organization that saves money for the business and increases the value of the plan for each employee. Now imagine this all happening in as little as 30 days — that's the service TMS has been providing for decades for businesses just like yours.
What if you could?
- Keep resources focused on the core needs of the business during layoffs
- Build a sustainable business process based on best practices for reductions-in-force
- Maximize business agility – programs are ready whenever difficult decisions are made
- Third party administration costs can be completely eliminated with changes to plan design
- Track plan performance through detailed metrics
- Deliver best possible experience to impacted employees
- Work with a team of experts to guide the process based on experience and best practices
- Former employees have a dedicated resource for education, information, and help
- Plan administration workflow is fully documented using an advanced, purpose-built technology platform with completely transparent reporting and metrics
Key Facts to Consider When Planning for Layoffs
- You Can Offer More and Spend Less while returning more overall benefits back to employees
- Industry Leading Companies Have Trusted TMS for 30 Years to provide the knowledge, expertise, and manpower to maximize the total value their severance plan investment
- Tailored severance plans can be deployed in as little as 30 days from assessment to definition to implementation using proven processes