Managing Employee Benefits in Employment Separations

An employment separation is the end of an employee’s working relationship
with an employer. It includes voluntary separations (i.e., resignation or
retirement), involuntary separations (i.e., firing or layoff) and departures that
occur at the expiration of a work contract or seasonal employment.
Employment separations require employers to complete a variety of
important tasks in a short time frame, including finalizing payroll, retrieving
company property and transferring the departing employee’s job
responsibilities. Employers must also address issues related to employee
benefits for departing employees.