professional services industry:
2021 guide to severance & workforce transition.

Highlights from the 2021 professional services report on severance and workforce transition include:

• 70% offer severance to all employees, a jump of nearly 20% since 2019 and higher than the average of other industries surveyed
• 29% made changes to their severance benefits, either holding steady or expanding in eight of 10 categories
• 70% of companies have formal redeployment programs, less than other industries on average and, while 70% rate their programs as effective, the No. 1 area of desired improvement cited by 51% is effectively matching people to open roles
• 49% provide outplacement and the primary reason for doing so is to maintain morale and productivity (86%), far higher than other industries