General Motors recently announced another round of layoffs, impacting approximately 1,000 employees, primarily in North America. Workforce reductions are challenging for any organization and its people. However, strategic tools like Supplemental Unemployment Benefits (SUB Plans) can soften the...
Recently, the U.S. aerospace giant announced plans to reduce its workforce by approximately 17,000 employees—a 10% reduction globally—due to financial strain and a month-long strike involving 33,000 West Coast workers. Alongside these layoffs, Boeing is reporting $5 billion in quarterly losses...
Earlier this week, the International Longshoremen’s Association (ILA) officially launched one of the largest U.S. port shutdowns in nearly 50 years, threatening to disrupt key sectors of the economy. As dockworkers strike over pay and job security, companies across the transportation,...
A little-known alternative to severance, a Supplemental Unemployment Benefits (SUB) Plan, can help retain workers during a shutdown. Retaining a workforce is challenging enough during regular operations, but when paychecks are replaced with unemployment benefits, maintaining a stable workforce...
In the dynamic realm of financial leadership, Chief Financial Officers (CFOs) are navigating further challenges in 2024, marked by an election year, high inflation rates, and persistent market uncertainties. As stewards of financial strength, CFOs must chart a course that not only shields their...
A SUB Plan is severance reimagined.
Short for Supplemental Unemployment Benefits, SUB is the common sense alternative to the traditional severance plan. While SUB and severance are both strategies for paying separation benefits, only SUB is payroll tax exempt and cuts the cost of employment...
Severance plans may be a sore subject, but looking at alternatives can mean getting more for less.
If the goal of your company’s severance plan is to provide a bridge to new employment and to maximize the value of your overall compensation and benefits programs, it is important to be aware of...
Explore the impact of Supplemental Unemployment Benefits (SUB) Plans to enhance year-round savings and optimize costs during employee separations. Transition Services, Inc. (TSI) is your trusted partner for tailored SUB Plan solutions.
Optimal Cost Management
Unparalleled Compliance...
As we approach the end of the year, human resources (HR) professionals find themselves in the familiar position of planning for the year ahead. It is a critical juncture. It marks the perfect time to review and recalibrate HR policies and programs to ensure they are not only competitive and...
Are you looking for ways to add value to your company’s bottom line?
Expand your knowledge of employment law, learn the fundamentals of a little-known separation benefits structure and impact the bottom line by introducing an innovative alternative to traditional severance.
Included in the...
Transitioning to a Supplemental Unemployment Benefits plan is a big decision, and is not something which can be done overnight. The implementation process takes careful planning and a keen eye to ensure your employees receive the most effective benefits in their transition from the company....
Organizations throughout the country currently face the critical issue of how to implement strategies to protect against costly layoffs in the future. The 2008 recession forced many companies to contribute to the staggering unemployment rate throughout most regions of the United States....
Make Severance Easier for your Human Resources Team
The mere thought of severance is often enough to frustrate any HR professional - not only because itsunderlying meaning points to organizational difficulty, but also because the administrative challenges posed by the process place more burden...
Severance is Costly
In times of trouble, the cost of severing an employee seems minor compared to what is often a company-wide critical financial situation. The cost of severing 100 employees could easily be over one million dollars, and 500 employees could get into the ten of millions.
The first in our current "Top 5" list named Regulatory Expertise as a primary reason for a company to outsource its severance programming. The second reason a company should outsource severance is leveraging the existing infrastructure of the firm you choose to partner with.
A challenged or...
The severance plan model, oft dismissed as a benefit that is used en masse typically only during turbulent times, remains untouched and archaic even today – strange, since the collective cost of the benefit over the past few years may have surpassed the multi-billion mark. Companies are slowly...
The manufacturing industry is no stranger to disruptions. From equipment maintenance and plant retooling to unexpected weather events, temporary shutdowns are an inherent part of the business. However, these disruptions often come with a significant cost, not just in terms of production losses,...
In the dynamic landscape of the manufacturing industry, disruptions are inevitable. Whether it's plant retooling, adverse weather conditions, or unexpected market shifts, manufacturing companies often find themselves facing temporary shutdowns. These shutdowns not only impact production but also...
The mere thought of severance is often enough to frustrate any HR professional - not only because its underlying meaning points to organizational difficulty, but also because the administrative challenges posed by the process place more burden on an already-struggling Human Resources team. In...
By you agree to our
Terms of Service and
Privacy Policy; and, you acknowledge
that your information may be shared with companies you interact with on the SHRM Human Resource Vendor Directory.
To complete your registration, please enter the code sent to your email.
