Monday, July 16, 2018

The Importance of Formally Reviewing a Severance Package

by lenardjohnson (writer), , September 20, 2016

Why Having a Toronto Dismissal Lawyer Review a Severance Package Makes Sense

Being terminated from a position after years of service is one of the most traumatic events that an employee can face. Along with dealing with the fact that it will be necessary to seek employment opportunities elsewhere, there’s the matter of the severance package that the former employer is offering. Before signing anything, the individual would do well to seek help from a dismissal lawyer and determine if the offer is reasonable and in line with current laws.

Is Legal Counsel Really Necessary?

The average employee may be vaguely aware of employment laws as they currently stand, but few are likely to fully grasp how those laws apply to the current situation. For example, does the former employee know what type of minimum compensation must be included in a termination or severance package? If not, that paves the way for the employer to offer something that barely meets those standards and not a penny more.

If the individual chooses to show up at the meeting with legal counsel on hand, there is the opportunity to determine if the offer currently on the table is a reasonable one, or if additional discussions are in order. The dismissal lawyer can readily determine if the terms are in compliance with current laws and provide advice to the client accordingly. If anything seems to be out of order, the lawyer can call attention to that fact immediately.

Advice on When to Accept an Offer

Along with ensuring the offer meets the current minimum standards set by law, there is the matter of knowing when to sign on the dotted line and when to respectfully decline. It pays to remember that the employer has a vested interest in being able to settle the matter for the lowest amount possible. After all, the employer operates a business in order to make money. Limiting the expense created by the severance package is another way to ensure the profit margin remains higher.

Even if the settlement is in compliance, the Toronto dismissal lawyer may recommend that the client not sign the release in haste. A better approach is to engage in some amount of negotiation. The fact that a lawyer is present helps to demonstrate that the former employee is taking the situation seriously. That may be all it takes for the employer to make another offer that is more equitable to the employee.

Refusing the Offer

If the course of those negotiations brings out additional information that causes the labour lawyer to wonder if the stated grounds for the termination are not the entire story, the advice may be to reject the offer. At that point, the client and the legal counsel can file a wrongful termination suit and seek whatever amount of compensation current laws allow.

Never feel as if there is no alternative but to accept whatever severance offer the employer makes and go meekly into the dark night. There are other options. Talk with a Toronto dismissal lawyer and see what sort of action could lead to a better resolution. In the long run, the client will have a better chance of remaining financially secure while seeking a position with a new employer.

For more info check:

Marvin A. Gorodensky Professional Corporation
(416) 323-9395
45 St Clair Ave W #908
M4V 1K9

About the Writer

lenardjohnson is a writer for BrooWaha. For more information, visit the writer's website.
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