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Receiving a Severance Package when you Leave a Company

By Edited Sep 13, 2016 0 0

Many employers give a severance package if they ended ties with an employee, especially if the latter was wrongfully terminated.

Providing this package to employees is not required by the law, but employers may need to do so if there is a contract or a provision in the handbook requiring it or if the company always gives it to former employees.

If you were wrongfully terminated, you might be in the position to negotiate the benefits that will be included in the severance package. Remember, your employer is trying to prevent you from suing him so you can use this opportunity to your advantage.

Here are some examples of benefits which may be included in a severance package:

  • Severance pay - It is important that you will be given financial support because you just lost your source of income. Receiving severance pay will enable you have enough money while you are still applying for another job.

  • Outplacement services - You will have an easier time looking for a job by joining outplacement programs, which will help you create an impressive resume, offer you various counseling sessions regarding your career goals, and enable you to develop skills needed for a job.

  • Continued health benefits - Your employer may allow you to continue receiving your health benefits for a certain period of time after you were fired. This arrangement is also covered by the Consolidated Omnibus Budget Reconciliation Act (COBRA). However, this law does not require your employers to shoulder the premiums of your health insurance.

Meanwhile, here are some tips which you can follow during the negotiation process:

  • Ask your employer to give you more time to study the release - The benefits that you will receive may be tempting, but you should not give in to them right away. You should first review the release to see if it signing it is better than taking legal action against your employer. If your employer is pressuring you to sign the release right away, you can remind him that failure to reach an agreement may only result in a court battle.
  • Talk to your employer properly - You are negotiating for good benefits so you should talk to your employer nicely. If you are aggressive or rude to him, he may not agree to your demands, thus causing more problems to both parties.
  • Consult a Los Angeles employment lawyer - You can contact an attorney if you want to know whether engaging in negotiation talks will be good for you. In addition, your attorney can represent you during the entire process in order to increase your chances of receiving the benefits that you want.
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