Worksheet_Termination of Employment Template

This worksheet_termination of employment template has 2 pages and is a MS Word file type listed under our human resources documents.

Sample of our worksheet_termination of employment template:

TERMINATION OF EMPLOYMENT WORKSHEET EMPLOYEE NAME: DATE OF TERMINATION: The following items should be checked off prior to an employee's final date of employment. Not all items will apply to all employees or all circumstances. Place the completed form in the employee's personnel file. Actions Done Termination Notice Meet with the employee in a private, neutral location, such as a conference room or closed office, to minimize their embarrassment or discomfort. Inform the employee why they are being fired or laid off. Explain when the termination will be effective. If today is the employee's last day, outline the procedures for exiting the premises. If the employee will remain at the company for a set period of time, tell them what is expected of them during the transition period. Give the employee a termination letter that documents their last day, outlines the reasons they are no longer working for the company, and provides information about severance benefits and other termination details. Insurance and Benefits Disclose the date that the employee's medical, dental, vision, life and long-term disability insurance coverage will end. Explain COBRA, the federal act that provides employees who experience a "qualifying event" (such as a termination) with the right to continue their current group insurance coverage. Give the employee a written statement that explains when their benefits will terminate, outlines COBRA law, lists monthly premiums and provides enrollment information. Provide a closing statement with information about the company's stock option, profit sharing and/or employee stock-ownership program. The statement should show how many shares the employee has vested, the price per share and the deadline for exercising the shares. Give the employee documentation about their 401(k) or retirement savings plan. Make sure it spells out when company contributions to the plan will end, explains rollover options and contains contact information for the plan administrator. Settlement and Arbitration Agreements Ask the employee to sign an arbitration agreement that states that all controversies and employment-related disputes will be resolved through arbitration and not litigation. If you're concerned about possible litigation, ask the employee to sign a settlement agreement. By signing such a document, the employee releases any claims against the company in exchange for payment. (Consult your attorney or an employment-law specialist to determine if a settlement agreement is necessary