Organizations need an integrated solution for calculating severance payouts. They need the flexibility to setup simple and complex rules with various types of form based inputs. Severance pay compensation is paid to eligible employees who have their employment as “severed.” Severance Pay compensates employees for losses (such as loss of seniority) that occur when a long-term employee loses his or her job.
- Integrated with employee master data and other details such as years of service etc.
- Enable front-end calculations for simple and medium complexity calculations
- Setup pre-defined rules with easy to maintain calculation engine for automating the calculations
- Ability to distribute calculations via emails, printable outputs, PDF outputs and reports
- Ability to setup automated workflows for internal reviews and approvals
- Lack of transparency and reporting of severance payouts
- Ability to integrate with HR master data and seniority information
Line of Business
- Human Resources