Downsizing? An admin checklist
January 16, 2009 by Bill MeltzerPosted in: Compensation, Compliance, In this week's e-newsletter, Latest News & Views
It’s never pleasant when companies have to downsize due to a tough economy. On top of the emotional strain, it also creates a lot of paperwork for Benefits/HR.
Here is a benefits-and-compensation related checklist of tasks to complete if your company is downsizing:
- Final time/expense report
- Final paycheck
- COBRA notice (firms with 20+ employees)
- Certification of group health plan coverage (firms with two or more employees covered on a company plan)
- 401(k) rollover forms, if necessary
- Delete company computer access
- Remove access to company credit card, if applicable
- Return building access card, if applicable
January 22nd, 2009 at 10:49 pm
Many companies issue equipment such as laptop computers, Blackberry’s, cell phones, printers, etc.These must also be recalled and determined useable.
January 29th, 2009 at 2:23 pm
Include some contact numbers of people who can answer questions for them once they’ve had a chance to absorb what’s happening to them.
January 29th, 2009 at 2:36 pm
We require that the company hand book be returned as well.
January 29th, 2009 at 2:49 pm
Benefits also must be termed at the end of employment – if it is done by systems or manually – you may want to do audits during times of downsizing to prevent overpayment in premiums.
January 29th, 2009 at 7:38 pm
We also include a list of upcoming job fairs, a hand-out from our EAP provider about downsizing and how to get back on your feet, a copy of their COBRA paperwork, info about their 401(k), and how to apply for unemployment. The feedback has been great. They appreciate that we take the time to put together a packet just for them.
January 30th, 2009 at 12:29 pm
Unfortunatley this is something we HR professionals have been getting very familiar with…
April 17th, 2009 at 8:23 am
I designed a termination checklist that proves to be very helpful in the process. That way you can list all the things needed when terminating.