According to the Labor Law No. 4857, severance pay is a type of compensation that workers receive when they leave their job or retire if they meet certain conditions. If we briefly touch upon the conditions required to receive severance pay and the place and importance of severance pay in our legal system;
Conditions of Severance Pay:
Operation time: The employee's right to severance pay begins with having worked for the same employer for at least 1 year. However, in certain cases (for example, the employee is dismissed due to misconduct) this period may be shorter.
- Resignation of Worker: If the employee leaves the job voluntarily, he/she is not entitled to severance pay, that is, severance pay is valid if the employee leaves the employer.
- Employer Dismissal: Workers who are dismissed by the employer have the right to severance pay. However, in case of dismissal due to the employer's faulty behavior, the employee may obtain more rights.
- Pension: If the employee retires due to old age or disability, the employee is entitled to severance pay even if the employer has not dismissed him.
The Place and Importance of Severance Pay in Our Legal System:
Protection of Workers' Rights: Severance pay provides financial security to workers when they are laid off or retire. This ensures that workers do not suffer economically if they lose their jobs.
- Regulation of Worker-Profession Relationship: Severance pay helps regulate employee-professional relations and encourages employers to provide workers with a stable long-term working environment. Workers are entitled to severance pay by showing loyalty to their employers.
- A Legal Protection: Severance pay provides legal protection to workers and helps ensure justice in cases of dismissal. Employers cannot unfairly dismiss workers without paying severance pay.
- Financial Support for Retirement Period: Severance pay provides additional financial support to retiring workers. This can improve the worker's quality of life during retirement.
- Economic and Social Balance: Severance pay supports economic and social balance between workers and employers. While employers protect their workforce by offering their employees a long-term relationship, workers are also secure.
As a result, severance pay is an important element of labor law and helps employers manage their workforce sustainably while protecting the rights of workers. This compensation plays a critical role in regulating the employee-employer relationship and ensuring the economic security of workers.
