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Parting Gifts

Give to employees when they leave, so you'll get more while they're here.

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This story appears in the January 2001 issue of Entrepreneur. Subscribe »

When employees resign or are terminated, you don't have to give wages or benefits beyond paying them for the time they worked. Even so, most entrepreneurs offer some sort of severance package to departing employees.

An attractive severance policy can benefit your company in two key ways, says Wayne Hersh, a relations and lawyer with the firm Berger, Kahn, Shafton, Moss, Figler, Simon & Gladstone in Irvine, California.

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