Losing your job can profoundly impact your personal well-being. That’s because your job security and income directly affect any family, pets, or other loved ones who may rely on you.
After losing a job, there’s no sure way to predict when you will acquire another. This can result in profound uncertainty for you and your family, as well as weeks and months of stress as you look for a new job. This is why many places of employment offer severance packages. However, sometimes severance packages are inadequate.
If you have received a severance package that is not commensurate with your role in the company and does not adequately reflect your value, our Morristown employment lawyers can help. Our experienced attorneys have a working knowledge of employment law and will work tirelessly to advocate on your behalf. Contact us today for more information.
Severance Packages Explained
Severance packages are typically designed to last a few months while the recently displaced employee searches for a new job. They often contain a lump sum of money, prolonged insurance benefits, and other amenities. The former employee can use these funds to pay bills, purchase essential items, and support their family while they look for work.
Sadly, in some instances, companies offer inadequate severance packages that do not accurately reflect the employee’s duties and abilities. Many people who receive insufficient severance packages are either too timid to speak up or simply unaware that they can negotiate for a better one. This is where a severance agreement lawyer can help.
Challenging a Severance Package
Some people opt to negotiate their own severance package without the assistance of a lawyer. Depending on the place of employment and the nature of the termination, this can be a very unpleasant situation. In these cases, many employees do not realize the leverage they possess. Additionally, they are often not well-versed in employment law.
With or without an attorney, the first step to challenging a severance package is reviewing it along with your employment contract. Before you begin the review, it’s important to make sure you have such a contract. Employment contracts simplify the process of challenging a severance package by providing a clear basis of reference. Thus, not having one can make things more complicated and difficult.
Challenging a severance package is typically much easier with a qualified attorney by your side. Even if they do not represent you in court, they can provide counsel and review documents so you can approach your former employer with a firm stance concerning the provisions your severance package should contain.
Negotiating a Severance Package
Being fired from a job can be an unpleasant experience for everyone involved. It is often a high-stakes situation full of charged emotions. This plays a major role in employees’ decision to accept their severance packages at face value and move on without a fuss. However, if the severance is insufficient, it is important to know you have options.
When negotiating additional severance benefits, up to and including an entirely new severance package, you need to present verifiable proof of the value you brought to the company. What skills did you bring to the job that made you indispensable? This is one area where an employment attorney can add considerable value.
Why You Should Contact an Employment Law Attorney
One of an employment attorney’s specialties is reading through severance agreements and identifying ways to maximize your severance package. They will comb through your job duties and closely assess the value you brought to the company. Additionally, they will use their knowledge of employment law to ensure the contract is fair.
If negotiation or litigation is involved, an employment law attorney will be able to take the reins and represent your interests. This applies at the negotiation table as much as it does in the courtroom.
Consulting an employment attorney about your severance package has several other benefits. When you meet with an attorney at NJ Employment Lawyers, they will help you with all of the following:
- Ensuring all signed documents are fair and in your best interests
- Reviewing any previous documentation you have signed
- Ensuring your severance payout is commensurate with your skills and role
- Keeping an eye out for additional benefits that may have been excluded
- Negotiating on your behalf
Your employer might present you with documents before you have spoken with an attorney. In such cases, it is a good idea to refrain from signing anything until you consult with a lawyer.
The bottom line is that having an attorney review your severance package has several benefits. In addition to everything listed above, the attorney will be able to communicate directly with your employer on your behalf, which will make the entire situation much less stressful for you.
Contact NJ Employment Lawyers Today
If you are ready to get started with the next chapter of your life, contact NJ Employment Lawyers today. Our employment law attorneys are standing by, ready to answer any questions you may have.