We offer severance pay to teammates for most* involuntary departures (such as a layoff, a role elimination, or a teammate being let go), in exchange for their endorsement of a Separation and Release Agreement (where applicable). For teammates who are technically classified as contractors by status, we offer additional pay to ease the burden in the equivalent amount to teammate severance. (*In the case of misconduct, we may choose not to offer severance.)
Another situation in which we offer severance is a mutual separation. This can occur when a teammate has a history of good performance, and a role change is necessary that takes the role in a direction that’s at odds with the teammate’s skills and interests. In some cases, it can also apply when a teammate’s performance is no longer meeting expectations, and both the teammate and manager agree that a planned, amicable departure is the best case outcome. (Most resignations do not fall into this category. Ultimately it’s up to the manager, with support from Leadership and/or the People team, to determine what departures fit into this category.)
The spirit of our flexible time off recommendation is that teammates have the freedom to request time off based on their needs. We want teammates to have the flexibility to take the time off they need to recharge as we believe this is critical to doing your best work.
Because time off is unlimited, no time off at Buffer is accrued or carried over from year to year. We want teammates to take time off when it is needed! Because employees do not accrue time off under this policy, no accrued, but unused, time off is paid out upon termination of employment with the exception of unused sabbaticals. Read more about sabbaticals here.