A 1,000-employee organization laying off 100 employees could avoid $1.8 million in wrongful termination lawsuits by offering strong outplacement services. According to a study by Dertouzos and Karoly of The Rand Corporation, "indirect effects of wrongful termination doctrines are 100 times more costly than the direct legal costs of jury awards, settlements, and attorney fees."
The average cost to settle an employment lawsuit is over $400,000.
The average amount awarded by juries for wrongful discharge is over $600,000.
World-class outplacement services are your best tool to limit exposure to risk from wrongful termination lawsuits.
Providing your ex-employees with the services of com is an unparalleled way to demonstrate that you care about their well-being over the long term.
com will help your ex-employee transition from disappointment about losing their last job to excitement about what the future has to offer. What looked like a bad situation will be transformed into a terrific opportunity.
Outplacement is offered in conjunction with a separation agreement which employees sign in order to be eligible to receive services. This agreement goes a long way toward limiting your exposure to later lawsuits.