The termination of an employment relationship can cause significant legal issues, and can be an extremely stressful experience. Former employees may suddenly be without a source of income and may not be able to find new employment for some time. Sometimes, employers offer departing employees a severance package as a temporary way to meet a former employee’s immediate financial needs.
Video on Severance: Never Too Early to Start
If you believe that you are not receiving a severance package to which you are entitled, you should contact of one the Colorado employment lawyers of HKM Employment Attorneys. We can help represent you in severance pay negotiations, and also represent you in any litigation that may result from a severance pay dispute. The best way to ensure that your receive the compensation you deserve is to retain the representation of skilled employment law attorney as soon as possible.
Often, severance pay is part of a larger separation agreement that establishes certain rights are responsibilities of both parties. Some of the more common features of a separation agreement include the following:
- Providing severance pay
- Non-disclosure of trade information
- Limitations on the ability to sue your former employer
- Limitations on the ability to file regulatory complaints
- Non-compete clauses
Generally speaking, a severance package is a fixed amount of compensation given to an employee in return for their time spent working for the business he or she is leaving. In some cases, employers use severance pay as a negotiating tool to keep former employees from disclosing information about the company or filing a legal action. It is important to be aware that not every employee who leaves a company is entitled to severance pay, and it is important to get promises of payment or other aspects of a separation agreement in writing.
Employment Attorneys Serving Colorado
With nearly 4 decades of combined experience, HKM Employment Attorneys is a multi-state law firm that is recognized as a premier employment law firm. Our clients range from employees to employers, and from small businesses to Fortune 500 companies. We are dedicated to providing individually tailored and solution-oriented legal counsel to each client we represent, and understand the importance of quality legal representation. By retaining our firm, you are ensuring that you are receiving professional legal representation and that your legal issues will be resolved to the best outcome possible.
If you require assistance with any matter related to severance pay, do not hesitate to call one of our Colorado employment law attorneys today.