Cherry Hill Severance Agreements Lawyer
While being laid off from your job is difficult to go through, receiving severance pay can help ease the burden for at least the near future. However, employees who are offered severance packages need to be careful about what they are exchanging for that compensation, as many such agreements impose significant restrictions on the workers who sign them.
Before signing any employment contract that includes terms on severance pay, it is best to have a Cherry Hill severance agreements lawyer look at it first and ensure that its terms are fair and equitable. Once retained, a skilled employment law attorney could help you negotiate for specific terms to be included in your severance package, whether that entails additional compensation or fewer limitations on where you can work next.
The Pros and Cons of Severance Packages
Severance pay can provide much-needed stability for workers who are fired from or laid off of their jobs, and it can be tempting to sign whatever document allows for paychecks to keep coming in during the search for new employment. However, severance agreements are almost always slanted in favor of the employer in a number of ways.
For example, many severance agreements include non-compete clauses and other restrictive conditions that can make it difficult for a laid-off employee to find work for a different company in the same field. These agreements also almost always mandate confidentiality on the part of the signing party, and some may even forbid a fired worker from criticizing their former employer in public through a non-disparagement clause.
Perhaps most notably, severance pay is often offered in exchange for the signing party’s forfeiture of his or her right to sue his or her former employer. For these reasons, it may be crucial to have a local attorney review a severance agreement before signing.
Negotiating for a Fair Severance Contract
There is no requirement under state or federal law for an employer in Cherry Hill to offer severance pay to a laid-off or fired employee, and workers have no obligation to sign any such agreement offered to them. This means that it can be challenging for an employee to effectively negotiate for a more favorable severance agreement on his or her own, since his or her employer can simply refuse to provide any severance package at all.
With help from a lawyer in Cherry Hill, recently laid-off workers could have a much easier time advocating for their own best interests and pursuing more favorable terms for the severance agreements presented to them by their former employers. Qualified legal counsel could also ensure compliance with various federal requirements related to severance agreements, including proper notification of mass layoffs, appropriate time given to review the document’s terms, and more.
A Cherry Hill Severance Agreements Attorney May be Able to Help
Trying to negotiate a better severance package after being fired or laid off can feel impossible without legal representation. Fortunately, we could assist you with reviewing and discussing a severance agreement with your boss.
A Cherry Hill severance agreements lawyer could put their expertise and experience to work for you during negotiations, giving you much better odds of protecting your employment prospects going forward. To learn more about how our skilled team of attorneys could help you, call today.