Severance Package Negotiation
At termination, employers sometimes offer severance pay in exchange for the signing of a waiver of any and all possible legal claims by an employee. Employers often expect employees to accept a severance offer without negotiating.
Before you accept severance pay, there are several ways that an attorney can assist you with severance package negotiation:
- Determine if you have a legal claim against your employer for discrimination, retaliation, or overtime
- Evaluate your employer’s severance policy and the financial terms of your severance pay package
- Negotiate directly with your employer so you can obtain the best compensation package
- Analyze the legal terms of your severance agreement and explain to you the risks and benefits of accepting your employer’s offer
As an employee, you should never sign a severance agreement unless you understand the rights you are giving up. Remember, the main reason your employer wants to pay you severance is to obtain a waiver of all of your legal rights. Once you do this, you can no longer sue your employer for any legal claims related to your employment.
Employers will try to pressure you into quickly accepting small severance pay packages. They may impose arbitrary deadlines. They may tell you that you have a few weeks or even a few days to make a decision. It is important to begin working with an attorney as soon as possible to maximize your severance compensation.
If you would like an attorney to review your severance or separation agreement and assist with severance package negotiation, contact employment lawyer Paul Sharman, anytime, at (678) 242-5297 for a free, no obligation consultation or use our convenient email form.