With the world economy still uneven – and potentially on the edge of another downturn – the fear of involuntary termination is almost ever-present for many workers. They need to understand what safety net – if any – is prepared to catch them. Employers, meanwhile, must stay abreast of unemployment, termination and severance pay practices across the globe. Mercer’s 2012 Worldwide Benefit & Employment Guidelines, which tracks statutory benefit requirements for 62 countries, sheds light on this timely topic.
“Our research shows that practices vary widely around the world,” says JP Provost, a Mercer Senior Partner and US Leader of International Consulting. “In some locations, support for terminated workers is quite generous, while in others, there is not as much of a safety net.
“In Russia, for example, a worker might receive up to a year of unemployment benefits, compared to up to just five months in Brazil,” he said. “And in some countries, including the US, employers are not required by law to provide any severance pay.”
Find out what a terminated employee can expect in 10 major countries.
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For more information about this report, visit www.imercer.com/wbeg.