What’s Important To Know About Severance Pay, Sick Pay, and Vacation Pay After Termination?
- It is not mandatory to provide an Employee with a Severance Package after Termination
- Some internal policies may require the payout of Sick Time and Vacation Time
- Employers should consider if there is any possibility for a Lawsuit upon the Employee’s Termination
- Under these circumstances, a Severance Package can be viewed as an Insurance Policy