The Snitch

Companies with formal written severance practices usually save more on retrenchment packages than those that base such packages on informal written guidelines. Yet only 29% of Singapore HR practitioners surveyed have formal severance policies implemented for their companies even though retrenchment figures are expected to rise during this downturn.

What’s worse is 100% of HR respondents expect no changes to their severance policies in 2009. Michael Lee, a senior consultant for HR consultancy firm Right Management, explains how employers will benefit both financially and in goodwill from having a good formal written severance policy in place.

Watch on to find out.

Have trouble loading the video?  Why not check your company or computer’s firewall settings to make sure that Youtube videos can be streamed on your computer.