The basics of severance agreements in Wisconsin

On Behalf of | Jan 21, 2022 | Employment Law

Losing your job is never an easy thing. After getting laid off, severance negotiations can be a stressful and difficult process for someone who wants to maximize their severance package. However, you don’t have to be unprepared.

What is severance?

Severance is a payment made to an employee who has been laid off or terminated. The severance package usually includes a combination of benefits and other payments. Employers and employees usually negotiate severance packages, but the courts will sometimes step in and set a severance package if there is no agreement.

You don’t need to settle for less than you deserve

Severance negotiations are a part of the human resources process and they’re not always easy or fair. Your employer might offer you a severance package that is low compared to what your position was worth in the market. You don’t have to take the first offer that is given to you, and it’s important to remember that you may be in a better bargaining position than you think.

Here are some things to consider when negotiating severance

Firstly, you should try to get an idea of what your severance package might be worth. This can be done by looking at severance packages that have been awarded to employees in the past or by talking to a professional.

Secondly, know your rights as an employee and what is negotiable in severance agreements. For instance, you may be able to negotiate the amount of severance pay, the length of time it is paid out, and whether or not you are given continued health insurance.

Finally, always remember that you have power in negotiations. You don’t need to accept the first offer that is made to you – try to get as much as you can for yourself and your family.

By following these tips, you can negotiate a severance agreement that is fair and meets your needs. The attorneys at Alan C. Olson & Associates have experience fighting for Wisconsin employees’ rights during severance negotiations.

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