For both employers and employees, a severance package can help smooth the transition. Employees can seek new opportunities with a financial parachute, while employers can rest easy in warding off future legal disputes. Whether you’re an employee or employer, rely on me at the Parzivand Law Firm, PLLC for help.
I am a people-first attorney who represents the rights of employees and helps employers make sound business decisions. I will provide you with personalized service and keep you constantly updated, keeping you in the loop as we strive for the best outcome for your situation.
My goal as an attorney is to help make Texas a better place for both employees and business owners. I am an effective attorney who is equally experienced in litigation and business transactions, such as creating an effective termination/transitional policy based on severance packages.
It’s never easy to let an employee go, and it’s never easy for an employee to suddenly have to move on. A sound severance package policy can help both parties make a successful transition. While giving the employee breathing room, a proper severance agreement can also prevent future legal claims against an employer.
A terminated employee who receives a severance package will be able to survive financially while seeking new employment. There will also be less potential for ill will toward the employer.
A carefully drafted severance agreement will require the departing employee to sign off on not pursuing legal action. This will prevent future claims and lawsuits against the employer, avoiding lingering legal issues.
When employees know that they will be offered assistance if they are let go, they may feel more comfortable in their surroundings and loyal to their employer. Job applicants may also feel more inclined to consider a job offer.
A severance agreement must be drafted carefully to be enforceable. Not all claims can be excluded. You will definitely need the assistance of an attorney experienced with the legal requirements.
The Older Worker Protection Act gives employees 40 years of age or older the right to have an attorney review the agreement, 21 days to consider it, and then another seven days after signing to revoke it.
If you only use severance agreements for employees who have grievances against your company, other employees can sense that you may be trying to cover something up to protect yourself.
When it’s time to let an employee go, whether for work issues or just downsizing, it’s stressful for all involved. No employer wants to spread the bad news, and the employee faces a monumental change. A carefully drafted severance package policy can go a long way toward reducing the anxiety of all involved. Bring your severance questions to me at the Parzivand Law Firm, PLLC.