Is there a formula to base the number of months a severance package is to include?
No, but there are factors. These include: • Age (an older employee might get a higher settlement) • Tenure (a long term employee might get a higher settlement) • Level of Responsibility (an employee with higher responsibilities in an organization might get a higher settlement) • Salary (an employee with a higher salary might get a higher settlement) For example, a Manager with 10 years experience in an organization might get 7-9 months. This is just an example and will vary.
