Clark & Krevsky LLC
  • Practice Areas
    • Employment Law For Employees
    • Employment Law For Employers
  • People
    • Anthony T. Bowser
    • Frank P. Clark
    • Solomon Z. Krevsky
  • Testimonials
  • Blog
  • Contact
Select Page

Tips on getting the best severance agreement

by Krevsky Bowser LLC | Jul 5, 2018 | Firm News, severance agreements

Employers may offer severance agreements to smooth the departure for terminated employees. In return for certain benefits, however, the soon-to-be former employers want important concessions. Employees can increase their bargaining power by taking certain actions to help assure a softer financial landing after a job loss.

As with other negotiations, the employer’s first offer is not necessarily the best or final offer they are willing to make. Employers want to purchase protection against lawsuits and other problems and may be willing to pay more for a worker’s concessions.

Employers are also more interested in professional reasons, not personal, justifying a more generous severance package. Hard work, lengthy tenure at the company, work accomplishments and other business reasons carry much more weight than personal problems or expenses.

Money should not be the only component of these agreements because the goal is to have the best possible financial cushion. Other terms can include staying on the employer’s health insurance plan for a period or until a new job is found, buying unused leave or payment of job transition expenses.

Employees should also be wary of non-compete agreements prohibiting work for competitors or businesses. Employees should try to prevent or limit these terms, which can restrict their professional opportunities. Options include limiting prohibited employers to a small number of named or defined businesses or having a short time period for the restriction. The amount of the monetary payment can be increased to match the time of the non-compete agreement.

Finally, there is no rush to accept a severance agreement. An agreement may be presented when the employee first learns of their job termination and is suffering from shock and distress. Calming down, reviewing the agreement later and taking the time to prepare a counteroffer is highly recommended. An employee may also be prepared to reject an unreasonable unfair agreement.

An attorney can help with this review, present options and prepare a counteroffer. Lawyers can help ensure that employee’s rights ae protected in these circumstances.

Recent Posts

  • Google and workplace discrimination
  • Can you be fired without notice?
  • What to know about workplace harassment
  • 30 years of employee care: Americans with Disabilities Act
  • Racial discrimination can affect any workplace

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016

Categories

  • Americans with Disabilities Act (ADA)
  • employee rights
  • employment contracts
  • employment contracts for medical professionals
  • employment law for employers
  • Family and Medical Leave Act (FMLA)
  • Firm News
  • Harassment
  • severance agreements
  • sexual harassment
  • Small Businesses
  • workplace discrimination

RSS Feed

Subscribe To This Blog’s Feed

FindLaw Network

Learn How We Can Help

Office Location:

20 Erford Road, Suite 300A
Lemoyne, PA 17043

Phone:

717-303-3764

888-593-6283

 

Map & Directions
  • Follow
Review Us

© 2021 Krevsky Bowser. All Rights Reserved.

Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters