Nov 16, 2020
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
Resources Mentioned:
- Severance Agreement and Release of Claims - https://www.eeoc.gov/laws/guidance/qa-understanding-waivers-discrimination-claims-employee-severance-agreements#II
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