2016 severance policies - imercer · argentina: +54 11 4000 0954 brazil: +55 11 3048 1801...
TRANSCRIPT
© 2016 Mercer LLC. 2 Severance Policies — Asia Pacific
PUBLICATIONS DIRECTORSamantha Polovina
CREATIVE DIRECTORStefani Baldwin
PRODUCT MANAGERChrisy Wilson
PRODUCTION MANAGERSumit Bajaj
PROJECT MANAGERRahi Sardana
CONTRIBUTORSHua Teck Tan
ANALYSTSDivya M
GRAPHIC ARTISTSAshish Mathew Rahul KhannawaliaVishal Kapoor
COPYEDITORAnkita RawatDivya Prakash
Published by: MERCER1166 Avenue of the Americas, New York, New York 10036, United States
Condition of SaleCopyright © 2016. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or be transmitted in any form or by any means, electronic or mechanical, photocopying, recording or otherwise, without the prior written permission of the publishers. No responsibility for loss occurring to any person acting or refraining from acting as a result of the material in this publication can be accepted by the authors or the publishers.
For information about your order or other Mercer products, contact your nearest Mercer office:
WE WANT TO HEAR FROM YOU! We love getting feedback from our clients on how we can improve our publications. We also make every effort to promptly answer any questions you may have about our data or analysis.
In today’s competitive race to attract and retain highly skilled global talent, organisations require current, in-depth information on everything from local statutory benefits, to salary trends, to managing a diverse workforce. Learn about our extensive product lineup at www.imercer.com/global.
Take a moment and share your thoughts with us.
ASIA, MIDDLE EAST, AND AFRICA EUROPESingaporeTel: +65 6398 [email protected]
Poland Tel: +48 22 434 [email protected]
AUSTRALIA LATIN AMERICASydneyTel: +61 2 8864 [email protected]
Argentina: +54 11 4000 0954Brazil: +55 11 3048 [email protected]
CANADA UNITED STATESTorontoTel: +1 800 333 [email protected]
LouisvilleTel: +1 800 333 [email protected]
REPORTSAMPLE
© 2016 Mercer LLC. 3 Severance Policies — Asia Pacific
DATA MINING & INSIGHTS 4INTRODUCTION 5SUMMARY OF KEY FINDINGS 7ASIA PACIFIC 10
AUSTRALIA 11CHINA 17HONG KONG 24INDIA 28INDONESIA 35JAPAN 40MALAYSIA 45NEW ZEALAND 52PAKISTAN 55PHILIPPINES 58SINGAPORE 61SOUTH KOREA 64TAIWAN 69THAILAND 76VIETNAM 81
ABOUT THIS REPORT 88 METHODOLOGY 89 GLOSSARY 89APPENDIX A 91ABOUT MERCER 93
TABLE OF CONTENTS
REPORTSAMPLE
© 2016 Mercer LLC. 4 Severance Policies — Asia Pacific
DATA MINING & INSIGHTSIn today’s competitive race to attract and retain highly skilled global talent, organisations require current, in-depth information on everything from local statutory benefits, to salary trends, to managing a diverse workforce. Through Mercer’s own extensive global presence, we collect and analyse data and insights that help companies take the actions necessary to support their human capital strategies. You can order any of the publications below by clicking on the title links or by visiting www.imercer.com/global.
Compensation Handbook
Global Car Policies
Global Compensation
Planning Report
Global Diversity and Inclusions
Handbook
Global Pay Summary
HR Atlas Asia Pacific
HR Management Terms
2016
AMERICASSHORT-TERM INCENTIVES AROUND THE WORLD
H E A LT H W E A LT H C A R E E R
Short-Term Incentives around
the World
International Geographic Salary
Differentials
Total Employment Costs around
the World
Worldwide Benefit & Employment
Guidelines
H E A LT H W E A LT H C A R E E R
I N T E R N A T I O N A L L I V I N G W A G E R E P O R T 2015
International Living Wage
Report
Talent All Access Portal
Subscription Services
Global Mobility Handbook
2016GLOBAL CAR POLICIES
H E A LT H W E A LT H C A R E E R
Severance Policies-
Asia Pacific
REPORTSAMPLE
© 2016 Mercer LLC. 5 Severance Policies — Asia Pacific
INTRODUCTIONMercer has complied the latest findings around statutory and market practice provisions on severance policies across 15 countries.
The 15 countries included in this report are:
AUSTRALIA
MALAYSIA
TAIWAN
CHINA
NEW ZEALAND
THAILAND
HONG KONG
PAKISTAN
VIETNAM
INDIA
PHILIPPINES
INDONESIA
SINGAPORE
JAPAN
SOUTH KOREA
REPORTSAMPLE
© 2016 Mercer LLC. 6 Severance Policies — Asia Pacific
INTRODUCTION
Information varies by country; where available the following content is provided based on statutory requirements and market practice.
INDIVIDUAL TERMINATION/SEVERANCE • Definition
• Eligibility
• Methods
• Notice period
• Calculation formulas
COLLECTIVE DISMISSAL/REDUNDANCY • Definition
• Eligibility
• Methods
• Notice period
• Calculation formulas
REPORTSAMPLE
© 2016 Mercer LLC. 8 Severance Policies — Asia Pacific
SAMPLE COUNTRYLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum LoremipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum.REPORTSAMPLE
© 2016 Mercer LLC. 9 Severance Policies — Asia Pacific
INDIVIDUAL TERMINATION/SEVERANCEDEFINITION
STATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARY
FAIR DISMISSAL
Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum.
As per statutory requirement.
SAMPLE COUNTRY
REPORTSAMPLE
© 2016 Mercer LLC. 10 Severance Policies — Asia Pacific
INDIVIDUAL TERMINATION/SEVERANCE, CONTINUEDDEFINITION
STATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARY
UNFAIR DISMISSAL
Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem
• Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
• Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
• Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
As per statutory requirement.
SAMPLE COUNTRY
REPORTSAMPLE
© 2016 Mercer LLC. 11 Severance Policies — Asia Pacific
INDIVIDUAL TERMINATION/SEVERANCE, CONTINUEDELIGIBILITY
STATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARYELIGIBILITY Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum As per statutory requirement.
LIMITS Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum As per statutory requirement.
NOTICE PERIODSTATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARY
COMPANY NOTICE PERIOD
Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem
Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum. Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem
Notice PeriodFour weeks of notice is typically provided by companies.
LENGTH OF SERVICE (YEARS) PERIOD OF NOTICE (WEEKS)
less than x At least x
more than x but less than x At least x
more than x but less than x At least x
more than x At least x
SAMPLE COUNTRY
REPORTSAMPLE
© 2016 Mercer LLC. 12 Severance Policies — Asia Pacific
SEVERANCE PAYMENT
Lorem ipsum
Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
Lorem ipsum Lorem ipsum:
As per statutory requirement.
LENGTH OF SERVICE (YEARS) AMOUNT OF PAY (WEEKS’ PAY) *
Less than x Nil
x and less than x x
x and less than x x
x and less than x x
x and less than x x
x and less than x x
x and less than x x
x and less than x x
x and less than x x
x and less than x x
More than x* x
* Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
Lorem ipsum
Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
SAMPLE COUNTRY
INDIVIDUAL TERMINATION/SEVERANCE, CONTINUEDCALCULATION FORMULAS (IF ANY)
STATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARY
REPORTSAMPLE
© 2016 Mercer LLC. 13 Severance Policies — Asia Pacific
COLLECTIVE DISMISSAL/REDUNDANCYDEFINITION
STATUTORY REQUIREMENT MARKET PRACTICE/COMMENTARY
COLLECTIVE DISMISSAL
Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum Lorem ipsumLorem ipsum Lorem ipsum Lorem ipsum Lorem ipsum
Please refer to the section above under “Individual Termination/Severance.”
SAMPLE COUNTRY
REPORTSAMPLE
© 2016 Mercer LLC. 14 Severance Policies — Asia Pacific
Mercer is a global consulting leader in talent, health, retirement, and investments. Mercer helps clients around the world advance the health, wealth, and performance of their most vital asset – their people. Mercer’s 20,500+ employees are based in more than 40 countries, and we operate in more than 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy, and human capital.
ABOUT MERCER
REPORTSAMPLE
For further information, please contact your local Mercer office or visit our website at www.mercer.com
Copyright 2016 Mercer LLC. All rights reserved. 16-SP-APAC-May
REPORTSAMPLE