October 21st, 2009
By Kirk Nemer
With the number of layoffs during this recession increasing daily, employees need to know their rights when dealing with their severance packages. Employees need to negotiate their severance pay and severance benefit packages, but they need to know how to avoid legal disputes, and how to maintain good relations with their former employers while do so.
Many employees believe they cannot negotiate their severance package benefits or severance pay, but this is not true. Now, during these poor economic times, more than ever is the time to get the best severance deal. Many professionals we work with state that during the recession they are afraid to negotiate their severance package. However, this is the best time to do it as companies are now willing to provide better severance pay packages due to the recession.
Lee Hecht Harrison in a new survey noted that despite recent employer cost cutting, 65 percent of 1,072 surveyed HR executives said their companies have maintained their severance policies, while 19 percent have made them “more generous”. In addition, a recent survey released in March, 2009 by the Philadelphia-based Hay Group found that over one-third of 180 employers (39 percent) are enhancing their severance packages.
However, companies require employees to sign a Release or Waiver of Legal Claims before they can receive severance benefits, and this practice is increasing. In Severance Practices Around the World, Right Management found that 73 percent of companies worldwide required separated employees to sign a waiver or release of liability to obtain severance benefits in 2008, compared to 66 percent of companies in 2002. Employees need legal and HR counsel to review their agreements to “knock out” any confidentiality provisions, noncompete and nonsolicitation agreements, and nondisparagement clauses, as well as other restrictive covenants which can affect their career and financial future. Moreover, Courts across the country have continued to limit circumstances in which employers can use releases or waivers in conjunction with severance benefits. In fact, many types of employment claims cannot be released in a severance package because of specific statutory provisions.
You need both legal AND human resources experts on your side to assist you in getting the best severance package!
Get what you’re worth,
Get what you’ve earned,
Get what you’re legally entitled to receive,
Get Career Protection-Your advantage in employment negotiations.
About Career Protection®
A leading national provider of employment negotiations advice, the human resource and legal experts at Career Protection® have protected the careers of professionals throughout the United States, Canada, and Europe. Career Protection has negotiated hundreds of employment agreements and severance pay packages. Career Protection’s HR and employment law experts have previously served as Vice Presidents of Human Resources, Directors of Human Resources, Corporate Counsel/Attorneys, or Recruiters for many Fortune 500 and Global Corporations.
Click on the following for a FREE CONSULTATION: http://www.careerprotection.com/freelegaladvice.html
Kirk D. Nemer, J.D., SPHR, President and CEO of CareerProtection.com
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Before you sign ANY Release or Waiver of Legal Claims, you must get Work Laws Exposed to find out if you have the right to sue your employer. Once you sign that release, you’ve lost your chance and your employer is banking on it. They’ll give you a timeframe in which to make up your mind, but luckily Work Laws Exposed is available for instant download.
