Not so long ago, relationships between companies and their c-suite executives, managers, and other high-level employees would often span decades, if not entire careers. The reward for a lifetime of hard work and commitment was a generous pension plan and toasts by colleagues and friends at a joyful retirement party. That is not the norm anymore. While many executives still stay with one company until the ends of their careers, more often than not, these employment relationships end well before retirement.
Companies and their executives move on all the time. Sometimes, the executive leaves for greener pastures. Other times, a deteriorating dynamic or other interpersonal issues lead to a mutual parting of ways. Often, however, broader economic or strategic factors facing the company or reasons specific to the executive’s supposed performance drive an employer’s decision to end an executive’s time with the company. Regardless of why an executive employment relationship ends, the how it ends- the terms of a severance package – will play a critical role in the executive’s financial future and ability to pursue other lucrative positions.
Maximizing Security, Opportunity, and Compensation During Executive Transition
At Shlansky Law Group, we understand that executives in transition want to end this chapter in their careers with as much financial security and consideration as possible. With decades of combined experience negotiating and crafting robust executive severance packages, our experienced and determined attorneys work closely with each client to learn about the circumstances of his or her departure, any objectives and concerns, and the pressure points we can use to gain leverage in discussions with the employer.
We look at severance negotiations holistically. We endeavor to ensure that any agreement provides not only compensation commensurate with the hard work and sacrifices you’ve made for your company, but also does not limit your rights and opportunities as you move forward with your career. When you retain Shlansky Law Group to negotiate your severance package, you retain lawyers who never lose sight of the fact that more than dollars and cents are at issue – it is your future and that of your family that are truly the subject of our efforts.
Your Company Negotiates Severance Packages All the Time. So Do We.
Unless you have a written employment agreement or a collective bargaining agreement that provides for severance compensation and benefits, or your employer terminated you for legally prohibited reasons, there is a strong chance that your company legally owes you nothing (other than COBRA) upon your departure. Your employer knows this. They also know how to maximize their negotiating power based on their position – and use that power regularly to extract potentially disastrous concessions from executives in exchange for a minimal amount of financial consideration.
A proposed agreement may require the executive to release any potential claims he or she has or may have against the company, or impose new obligations and restrictions on the executive, such as promises to refrain from certain work or activities. When it seems like the employer is holding all the cards, it can be easy to fold quickly.
We don’t fold.
With our strategic approach and mastery of the art of negotiation, we can maximize the benefits and value of severance packages for our clients. We do so all the time.
Don’t make the mistake of trying to level the severance package playing field on your own or concede that you need to take whatever your company gives you, no matter how insulting or inadequate. Let Shlansky Law Group take the lead in getting you what you deserve.
Shlansky Law Group: Experienced Executive Compensation and Severance Package Attorneys
If you have questions about the terms of a proposed severance package or would like help negotiating the terms of your departure, please call us at (617) 497-7200 or reach out to us at info@slglawfirm to learn more about what SLG can do for you.