ePerkz announced today the launch of its patent pending Severance Automation Manager (SAM), the first end-to-end severance automation platform that helps employers minimize the risk of litigation following a reduction in force (RIF). SAM helps businesses manage RIF events across the organization smarter, faster and in compliance with employment laws.
Since most HRIS systems have limited severance automation functionality, Human Resource (HR) bears the burden of manually calculating severance, creating agreements, and supplying legal with an audit trail in the event the company is sued.fintech news
“RIF events are an unfortunate part of operating a successful business. Managing the process with spreadsheets and emails makes the whole experience that much worse for HR,” said Sarah Rodehorst, Managing Director of ePerkz. “ePerkz’s mission is to simplify the process, improve compliance and make the experience as painless as possible for all involved.”
The SAM platform provides a collaborative environment that enables faster modeling and processing of RIF events. HR, Finance, Legal and Management gain a 360° view into past and future events from which they can draw insights to improve processes and business decisions.
There are many employment laws with which employers must comply. In the U.S. alone, organizations must comply with civil rights laws and the Worker Adjustment and Retraining Notification Act (WARN). Under Canadian provincial law, employees involved in a RIF must be given notice or be paid in lieu of notice and what is considered sufficient notice varies by province.
Sarah continues, “Employment laws are complicated and noncompliance is costly. Our clients use SAM because it saves HR time, money and headaches, while giving Legal peace of mind that the organization’s litigation risk is minimized.”
After a successful pilot in 2019, over 60 HR, Finance and Legal professionals use SAM to manage RIF events. SAM has calculated and generated agreements for over $6M of severance benefits to date.
