Question

Define outplacement and severance pay.

Distinguish between transfers and promotions.

Define offboarding. Why is it important?

What signal might the decision not to fire Bill give to other store managers?

Answer 1

Define outplacement and severance pay.

• Outplacement refers to the processes and procedures involved in helping a job seeker whose employment has been terminated by a former employer secure a new job
• A severance package is pay and benefits employees receive when they leave employment at a company.

Distinguish between transfers and promotions

• Transfer is used to place employees in positions where they may get greater job satisfaction
• Transfers refer to changes in which the pay, status and privileges of the new posts
• Promotion is the advancement of an employee from one position to another with an increase in duties andresponsibilities
• promotion refers to the advancement of an employee's rank or position in a hierarchical structure

Define offboarding. Why is it important?

• Offboarding is the series of steps you take to exit an employee from the company.
• It is important because employee cannot be just thrown away
• Proper steps have to followed