Survey: Severance Averaging At Least Two Weeks

Compiled ByTonya Vinas The average laid-off worker in the United States is likely to receive at least two weeks of severance -- more if they are at a senior-level or have been with the company a long time. This according to a survey by Woodcliff Lake, N.J., career-services company Lee Hecht Harrison. The company's survey was completed by human-resources executives at 925 companies and results were analyzed by New York-based research firm Find/SVP. Survey notes include a finding that 79% of employers have severance policies, and full-time employees at all levels are generally eligible. Two-thirds of those companies set minimum severance payouts, with two weeks pay the median for hourly employees, three weeks for managers and salaried staff and four weeks for executives. Also noted: Three out of five surveyed companies put a maximum on severance payouts, with 26 weeks salary being the median cap at all levels except officers, who receive 36 weeks.