Mistakes To Avoid When Signing A Severance Agreement
Being let go from a job is a stressful time. You may be the sole financial support for your family, so you need to make sure you get the best severance in terms of finances and benefits. At a time like this, it is imperative that you have an experienced employment attorney in your corner. Someone who has tried countless bench trials and knows what an employer can and cannot do. The experienced severance lawyer at Illinois’ McBride Law Offices, P.C., knows the details of separation agreements and how to assist you at this anxious time. He can explain your rights and offer you legal options.
Not hiring an employment attorney to review a severance agreement
Even the most educated person may not fully understand the complexity of contract, business and employment law. Many people will automatically sign a severance agreement (a contract between a departing employee and the employer) without fully understanding the terms or what is being offered in way of compensation. Hiring an experienced employment attorney is the first step to understanding what your employer is offering you. From complex legal jargon to the fine print, a severance agreement attorney can explain terms and possibly negotiate for better terms.
Signing a noncompete agreement
Many executives may be asked to sign a “noncompete” agreement. This means you cannot work for a competing company. Do not be in a hurry to agree to a noncompete agreement prematurely. Make sure you understand your rights with an attorney who can help protect them.
Believing you have no leverage
When an employee leaves a company, the last thing that an employer wants or needs is negative publicity. Social media makes speaking negatively about an ex-employer very easy, very fast. Any employer should want to keep you happy in this age of technology. A knowledgeable attorney can help you use this leverage, even if you are not able to successfully sue an employer.
Not attempting a negotiation
Being laid off or fired is both financially and emotionally difficult. Many do not even think to negotiate their separation agreement before signing it immediately. Your employer does want you to sign the agreement, so it never hurts to attempt a negotiation for more severance pay or extending benefits. Even though an employer may have a stronger legal stance, negotiating may get you more than what the agreement indicates.
Contact Attorney McBride Today
Have an experienced attorney on your side. Contact our Chicago or Hoffman Estates offices today at 847-394-3300 or by sending in a request. Attorney McBride will not hesitate to file a lawsuit, litigate or even take a case to trial if it means getting the best possible outcome for you.