The decision to quit a job could have multiple repercussions. The immediate financial strain can be hard to deal with, and that’s the precise reason why many employers offer severance packages to help with the transition. If you have been offered a severance package, you have the right to negotiate, which may not be as straightforward as you think. Employers hire the best lawyers to draft the agreements and do everything to settle things on their terms. Fortunately, there are employment lawyers in Connecticut who offer assistance to employees in such situations. If you need help, consider meeting the attorneys of Carey & Associates P.C. for a quick consultation. Here are some essential aspects of severance negotiations.
Knowing the ground rules
First and foremost, it is critical to understand that severance agreements are not mandatory. State and federal laws don’t require employers to offer a severance package to all employees. Also, this is more like a transaction rather than a fight with your employer. If you decide to agree to the offer, you will have to waive the right to file further claims. The biggest aspect worth knowing is the complex nature of such agreements, which involves elements of employment law, contract law, and compensation law. In some situations, the employment contract itself offers the terms and conditions related to severance and separation. If your employer has made direct, implied, or potential promises, you could ask for a package when you leave.
Factors that may influence the severance package
Severance packages tend to be variable and are dependent on numerous factors. The first factor is your employer’s policies in general. Also, severance is usually available to those who have certain higher positions or such details included in the employer contract. Employers may also offer severance when there is a risk of liability and claims. In general, the negotiations between parties shouldn’t take more than three weeks, and if there is no consensus, such cases eventually end up in court. There is a need for precision, time, and energy, and that’s one of the many reasons why you should hire an employment lawyer who has experience handling severance negotiations.
Preparing for severance negotiations
Before you step in to negotiate the severance pay and benefits, you need to note down and gather relevant documents that can explain and establish your worth. What value did you bring to the company? Do you have claims against the employer? How critical were you for the company’s operations? Make a list of everything you have achieved during your employment, such as awards and achievements. These details will come in handy as you negotiate. It also makes sense to take a deep dive into how your company has handled severance packages so far. If you can talk to former employees and colleagues, you may find valuable nuggets. You also need to understand what terms are ideal for your needs.
How can an employment attorney help?
As we have pointed out earlier, severance negotiations are extremely complicated and largely require extensive bargaining skills. Having an attorney allows you to understand your rights and have a better say during the entire process. Your lawyer can also offer objective insights on dealing with the situation, especially if you have certain valuable details about the employer or potential claims. Knowing that your employer has a competent legal team to guide them, you don’t want to sign something you don’t understand. An experienced attorney can help explain the terms and conditions and will negotiate on facts and numbers instead of emotional or political baggage.
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