Severance packages and the end of employment at a particular job can be a very conflicting moment of time. Trust can be abused from employer to employee and lead to one side of the equation getting less than what they truly deserve.
In the event an employee does pursue acquiring a particular amount of resources in their severance package it has a chance of backfiring. Whether it’s missing out on a particular clause that makes them ineligible for something, or creating a situation where seeking employment in the near future will simply be more difficult, there are often repercussions when things aren’t handled the right way.
To minimize on the chance that this could occur it’s heavily suggested that an employment lawyer is obtained so that they can properly guide these kinds of situations. The way something is written can create a huge impact on the outcome of severance packages.
Here are a few reasons why this is so essential:
In some cases when an employee is with a company for a certain amount of time there is a severance payment that they are entitled to without any form of paperwork being signed.
Should the employer want a signature it could be for reasons to acquire control or dictate certain terms. The payment of a severance package in a particular industry usually has a common range as well.
A lawyer can let you know exactly what you are entitled to as well as change clauses, or keep them in exchange for compensation from the employer.
Often times severance packages will spell out what benefits an employee is entitled to up separation of employment. This helps evaluate what kind of planning may need to be made to reacquire health benefits.
Additionally, there should be something in writing about the employed being paid the full amount that they are owed, which includes personal time off. A date should be applied to insure that this is taken care of promptly.
The release of claims has a large spread of different legal areas that the employer will usually want spelled out in the severance package. There are also areas that should not be released in a severance package with a prime example being the right to seek unemployment benefits that are not met with the employer fighting them.
Clauses can be applied that insure both the employer and its employees will not hinder the employee that is leaving in any way. Plans can be put in motion to insure that should a job opportunity reach out for a reference that nothing negative will be state against the employee.
Many times there are clauses placed that prevent the employee from discussing the terms of a severance package with just about anyone. An experienced lawyer will be able to recognize this and change it so that no rules are being broken when discussing the arrangement with people close to the employee.
This list could go on and on. The primary factor to consider is that in a severance package it’s an ode to a current job and the fact one has to move forward whether they like it or not.
Legal terminology matters in all forms of separation, which reinforces that taking the time to insure the wording is working in your favor is priceless when compared to what an end outcome could or couldn’t be. Make sure you get a lawyer to look over your own severance package to make sure that the final deal is fair and there isn’t a design being put in motion to give you less than what you deserve. Please visit Whitten and Lublin LLP for additional information.