Have you ever had to terminate an employee?
Did you know that offering some severance pay and getting a severance agreement can protect your business?
Employees are terminated. When it happens, both the employer and the employee need to know what issues to be thinking about. One thing to consider is a severance agreement.
A severance agreement typically means that a terminated employee is going to receive money that they were not already entitled to receive in exchange for waiving claims they have against the employer.
This mind map covers some of the issues an employer should be thinking about when drafting and signing a severance agreement with an employee.