What To Do When Your Employer Hands You A Severance Agreement
It’s your last day of employment, and your supervisor hands you a severance agreement. Your mind is now flooded with questions - “Should I sign?” “Can I negotiate the offer?” “Should I consult a lawyer?” There are several key legal and economic issues that should be considered when negotiating a severance agreement. So it’s important to speak up and get some help. Plus, you might not know how to take full advantage of your options.
So how does exactly a severance agreement work?
In this episode, you will learn:
- 00:35 - What should an employee need to do when he/she receives a severance package or agreement?
- 03:18 - Is there a right to receive severance?
- 03:50 - What is a severance agreement, and why are you being offered one?
- 04:47 - What you need to do if you are offered severance, and you have a legal concern about the nature of the separation
- 05:51 - What is the strongest piece of leverage employees have against the company if they are offered severance?
- 07:38 - Employee Concern: “I have a potential legal claim against my employer. If I will raise the issue with the company, they might take the offer off the table. What should I do?”
- 11:50 - How to negotiate your severance when you have little or no leverage to enhance it
- 17:21 - What you need to do if you are given a short deadline to review and sign the severance agreement
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