Negotiating a severance agreement in Connecticut: Contact an employment lawyer
No matter what position you hold, losing your job can be a hard thing to process, and expectedly, you are likely to deal with financial issues. A severance package is designed to ease the process, and as an employee, you have the right to negotiate the pay included in the package. If you have never handled a severance negotiation or don’t know your rights, it is pertinent to contact top employment lawyers from Carey & Associates P.C. This post delves deep into the aspects that matter.
Understanding severance agreement
Firstly, you must understand that a severance package is not a battle between you and the employer. Think of this as a business transaction, where you get a payment from the employer for letting you go and give up your rights to make claims or sue the company. Negotiating severance packages can be tricky, and your lawyer already has a legal team to represent them. The agreement is dominated by a number of laws, and therefore the negotiation must be in sync with all of that.
How do you negotiate a severance agreement?
In many cases, the employment contract includes details related to separation and severance packages. If there is no written contract or a change in control agreements, the employer may create a severance agreement. It must be checked whether the deal you are being offered is fair with no violations of state and federal laws. The severance pay depends on many factors and is often variable and dependent on the company. Other factors that may determine what you get include the potential for liability, the position you hold, and existing agreements. In general, severance agreements are negotiated quickly, often within three weeks. If that doesn’t happen and there is no consensus between you and your employer, the case could go to litigation. You need to have an employment law attorney who can use their expertise and time to negotiate the details.
Preparing for severance negotiation
- First and foremost, make sure you have a clear understanding of how you have contributed to the company’s growth. Consider the critical achievements and successes you have received during your job. The documentation is essential as evidence to highlight your value and strengthen your position during the severance negotiations. If you are waiving off your right to pursue certain claims, you should be sure that your compensation is enough.
- Do your homework in detail. Understand how other companies in the same field or niche are dealing with severance packages. Talking to former colleagues can also help. You need to be sure what your employer has offered to others so far and whether you are in a position to use the information to your advantage.
- Find a reliable employment attorney in Connecticut. Keep in mind that severance packages are extremely unique and specific, and in many cases, there are aspects employees don’t understand. You need a legal expert who can help you get the best possible outcome. Depending on the case, your employer may negotiate certain details, such as getting a recommendation from the employer as a part of the package. Attorneys with experience handling severance packages know what it takes to advise clients and discuss the terms with their employers. You are unlikely to settle for less with a competent attorney on your side.
Final word
There is no fixed amount for severance in Connecticut, which depends on your role and the time you have been working for the company. Don’t sign a severance agreement unless you are entirely sure and confident of the content. Your lawyer can help review the terms and conditions and will explain the minute details that may impact your career.
