Severance Package
Severance Package
When your employment ends, understanding your severance entitlements is critical. Severance packages are designed to compensate employees for the loss of their job and provide financial stability while they transition to new opportunities. However, not all severance offers are fair, and many employees may be entitled to more than what is initially offered.
Understanding Severance Packages
Severance packages can include several components:
- Pay in Lieu of Notice: Compensation for the notice period your employer should have provided.
- Benefits Continuation: Access to healthcare, retirement, or other benefits for a defined period.
- Other Compensation: Bonuses, unused vacation pay, or outplacement services.
The amount of severance depends on factors such as your length of service, position, and age, as well as the circumstances of your termination.
Signs Your Severance Package May Be Unfair
You may be entitled to more if:
- The severance offer doesn’t reflect your years of service or the nature of your position.
- It does not account for bonuses, commissions, or other forms of compensation.
- You were pressured to sign a release without fully understanding your rights.
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How We Help with Severance Packages
At Martin & Hillyer Associates, we ensure employees receive fair severance by:
- Reviewing Offers: Assessing whether your employer’s offer aligns with your entitlements.
- Negotiating for Better Terms: Advocating on your behalf to maximize your compensation.
- Filing Claims if Necessary: Pursuing legal action if your rights have been violated.
You Deserve Fair Compensation
Before accepting a severance package, let us review your offer to ensure you receive what you’re entitled to. We’ll help you navigate this process with confidence.
Contact Martin & Hillyer Associates today for a free consultation to discuss your severance package.
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