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Severance Lawyer Chicago

For reasons such as strategic and economic factors, employers and employees may decide to part ways. These decisions often catch the unsuspecting employees off-guard, resulting in feelings of unfairness, betrayal, and resentment. This could also lead to anxiety and worries about immediate and future financial security. 

How To Go About Severance Agreements In Chicago

If your employment relationship is about to come to an end, whether it is by mutual agreement or not, you should consider drawing your employment curtains with a guarantee of security and sufficient consideration. After all, you have been putting years of hard work, sacrifice, loyalty, and commitment when serving the company. It is, therefore, not unreasonable expecting your employees to show some gratitude with a severance package. 

Unless you are wrongfully discharged from work or your employment agreement and collective bargain states otherwise, your former employer literally owes you nothing. Illinois has no severance package laws, and your employer is therefore not obliged to award you a severance package. 

This means that securing a severance package in Illinois is a matter of negotiation with your employer. Your company might have negotiated many severance agreements and relies on experienced top-paid Severance agreement lawyers who advise and draft the agreement in the company’s favor. 

Due to the unequal bargaining powers between the employer and the employee, the company may seem to be holding all the cards. After all, you are seeking extra benefits from your employer.

Severance Negotiators in Chicago, IL

You should not make the mistake of trying to level the negotiating field and just take whatever the company offers you, however inadequate. Negotiating for a severance package requires skill and at Morgan and Tylor, our Illinois employment lawyers, and exclusively experienced in strategic and tactical elements of effective severance package negotiation. We have years of experience working with CEOs, Managers, C-suite executives, and employees to maximize the number of severance packages.

We will offer you our savvy severance package negotiation skills while focusing on your unique needs and goals. Achieving the desired severance package will demand more than writing a demand letter and placing a couple of calls. You will have to take a holistic approach with the negotiations, which entails a thoroughly thought out strategy that considers your company’s pressure points. 

Our Illinois severance attorneys will take time to assess the history of your employment relationship, the assertions and facts surrounding the pending termination, and whatever proposal your company may have made regarding the severance package. By delving deeper into your situation and appreciating your objectives and concerns, we can better position you for a successful negotiation outcome. 

Considerations for Severance Package Negotiation

While Illinois laws do not require employers to award their employees exit packages upon employment termination, they often make severance offers, even if it is not always from the kindness of their hearts.

The employer considers employee’s circumstances when determining whether to award them a severance package. They will consider your record with the company, circumstances of the termination, and the length of employment.  

If you sign a severance agreement that puts limits on your ability to seek further employment in that career path or takes away your legal rights, you would be giving away much more than what you will get in that severance package. 

Put simply, you should not pursue severance package negotiation alone. You should also never sign any employment agreement without first speaking with an experienced employment attorney. For a seasoned Severance agreement lawyer in Chicago, IL, Contact Morgan and Taylor for a free consultation: 847.816.8100.

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