Severance
It’s in the organization’s best interest to take care of departing employees, as the effort will affect future retention and recruitment efforts, along with the engagement of remaining employees.”
–Quoted from Severance Practices Around the World, a publication of Right Management Manpower Group
Many employers try to get their employees to sign severance agreements upon their terminations. In some cases, employers may be attempting to resolve claims they anticipate you might have against them. Studies have shown that normally pay between 1 and 4 weeks of severance per year worked, even when there is no potential employment claim against them. It is always a good idea to consult with a lawyer before signing a severance agreement to determine whether you are getting what you should and not agreeing to onerous provisions without being properly compensated for them, like non-compete agreements and agreements to assist the company with ongoing legal matters.