Calculate Severance Pay Or Job Loss Allowance To Employees Job Loss - YouTube

Employees worldwide at the most vulnerable and  insecure moment due to public nighting recession  

worldwide salary cuts job loss retrenching  things left termination etc is there an answer or  

solution to this can you make your employees more  secure watch this video for the complete solution  

to all the problems hi friends this is nixon  de silva and welcome to my channel nixon stake  

the objective of this channel is to take up  important issues that matters to most of us  

and in this episode we are taking up the issue  of fight for corporate justice for all employees  

worldwide this is a just fight for employees where  they are not exported at their workplace and their  

financial security is not compromised especially  when they lose their jobs having said that  

at the same time it is definitely not a fight  to unquest the employers but it is to work in  

perfect sink or shoulder to shoulder for  the mutual benefits of both the employees  

and the employers in this episode i am going to  talk about service pay compensation to employees  

or unemployment allowance for all those who have  lost their jobs it is also a fight for those who  

may lose their jobs in future and to make sure  that their financial issues and compensation  

is well taken care of to a large extent i will  explain how you can solve this problem to a large  

extent by solutions which are scientifically and  rationally thought out so please watch this entire  

episode till the very end to reduce or eliminate  your financial insecurity arising out of job  

and income loss the solution chopped out are not  only relevant for all tanks but it is even more  

relevant especially in this code 19 scenario  where the entire world has gone into recession  

retrenching downsizing of staff organizational  restructuring etc employees who lose their jobs  

are traumatized in most cases when there is no  income and there are bills emi house expenses  

children's and parents responsibilities  other liabilities etc to take care of  

if that employee gets a job soon then the damage  is not that much but if it takes a long time  

and he has to wait and struggle for months and  sometimes even years and what will he or she do  

many attack it leads to desperation and in  some cases he will need to commit suicide  

since this solution is for employees one  might wonder or ask why not withdraw from  

the provident fund or from the retired funds to  tight over the financial problems due to job loss  

well the answer is very simple the retired  funds as the name suggests are for the needs  

of the employee after his retirement but in most  cases he or she is no longer able to generate  

income like in their younger days further the  retirement corpus becomes meaningful or decent  

enough to take care of the retired person because  of the cumulative effect due to the employee share  

the employer's share and the interest that gets  compounded year after year so ideally speaking  

no employee should ever withdraw the retired funds  before his retirement as far as possible so how  

can the impact of this financial problem  be reduced if not completely eliminated  

is there a solution to these problems friends the  good news is that there's definitely a solution  

further to add to it the best part of the solution  is that there are absolutely no losers and every  

stakeholder is a winner i'm sure we can't come  out with a better solution than that the best  

part of the solution given is that it is a viable  b practical and c most importantly implementable  

one of the primary or immediate solutions to  job loss is giving service pay to all employees  

while lost jobs in all cases except  unethical cheating and integrity issues  

i propose a six month service pay to employees  will lost their jobs and just the bare minimum  

compensation and employers are free to give  servants pay much about this level as per  

the company's affordability and profitability and  explain how this can be distributed to employees  

six months seven spay employees up to 30 years  age four months severance pay between 30 to 40  

years three months several spay between 40 to 50  years and two months service pay between 50 to 60  

years of age now you might wonder why the students  pay is lesser for those in the senior age and more  

for lower age that is because younger employees  by and large have lower salaries and they don't  

have that high savings or financial resources  compared to the single employees to fall back on  

furthermore senior management employees may  negotiate a service package in case they part  

ways at the time of joining the company itself so  this could be over about the service payment and  

will take care of the senior employees the next  question is what is the formula to give away the  

savings pay in case of job loss my suggestion for  this is as follows employees were completed four  

years then full service pay at hundred percent as  per the formula mentioned those completed three  

years several at 75 percent those completed two  years servants paid 50 percent and those completed  

one year severance pay at 25 percent with this  formula employees who are younger and those who  

have served more tenure in their organization  will get higher supplement speed with this logic  

both the employees and employers are going to  benefit by the employee savings pay fund scheme  

1 employee loyalty 2 cost saving for employers  on employee retention recruitment replacement  

and training cost etc three improved employee  efficiency productivity and profitability for  

companies fourth employee stability happiness and  financial security fifth no root shocks for both  

the employers and employees as to what will be  the financials while parting ways with employees  

6. employees otherwise individually are not in  a position or strength to fight or negotiate  

servants pay either at joining oral or by  parting ways with employers in short both  

employees and employers gain from the employee  service pay or unemployment allowance scheme  

now the big question is how to generate and  get big funds required for certain speed  

friends the good news is that this is very  much possible practical and also viable  

after giving some thought on this i've come  up with the following sources for funding the  

employees severance pay or unemployment allowance  key please don't forget to subscribe to my channel  

nixon steak and press the bell icon below to  get immediate notifications of my next video  

watch out for this space thank you very much for  patiently watching the video after the very end  

see you again in my next video until  then this is nixon signing off for now  

on behalf of everyone from team nixon snake  channel goodbye and have a nice day thank you