The Smart Start Money Podcast

Why Do Employers Offer Severance Pay?

November 19, 2020

A Severance Package Is Not Offered Out of Kindness

Employers do not offer severance pay out of the kindness of their heart for a worker that is let go. A company that decides to give a parting employee severance does it to protect their interests.

Not all companies offer severance pay and it isn’t a requirement in most instances. Yet, a growing number of businesses are putting packages together for employees that are let go. What is severance pay and why are a growing number of employers choosing to offer it?

This podcast episode talks about why companies decide to offer severance packages.

 

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