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Top 5 Severance Package Myths Debunked - YouTube
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hello my name is Daniel Cho ptosis my
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colleague marquita we're both lawyers
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for Witten and Lublin employment lawyers
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and we're here to talk to you today
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about severance payments our topic for
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today is going to be the top five myths
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regarding severance packages so let's
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dive into it with myth number one which
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is the Employment Standards Act and the
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Ministry of Labor are here to solve your
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problems what many people don't realize
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is that the Employment Standards Act is
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really just the minimum wage of
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severance packages most people don't
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realize that your severance entitlements
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are covered by a very generous and broad
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category and the Employment Standards
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Act is effectively the equivalent of
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your minimum wage now the Ministry of
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Labor is just there to enforce that
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minimum wage so when he complained to
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the ministry would only result in those
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bare minimums and deprived you from
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something much greater so the number one
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myth we like to dispel is don't go to
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the ministry when it comes time to solve
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your severance problems myth number two
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there's a rule of thumb that you get one
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month per year of service I can't tell
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you how often we hear this myth it can
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be true that one month per year of
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service is what you're entitled to in
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the same way that a broken clock is
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Right twice a day but that's not
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necessarily going to be the case I've
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done cases where I have a three year
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employee that's entitled to nine months
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pay and I have a twelve year employee
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that's entitled to six months pay it's
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all very context driven and you're only
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going to appreciate that context if you
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either delve into the case law on a
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regular basis like we do or you speak to
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an employment letter myth number three
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contractors are not entitled to
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severance packages while this may be
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true under some circumstances the courts
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have carved out a new category of
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contractor called a dependent contractor
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now this is similar to being a normal
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independent contractor who's not
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entitled to severance pay
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however the contractor in this situation
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will have built a dependency on their
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employer for their wages and for their
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job security and the courts have now
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actually realized that under these
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circumstances the dependent contractor
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is actually entitled to very similar
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severance entitlements as just a regular
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employee would be yes and and similarly
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when it comes to employment contract
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I've heard a myth very regularly that
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employment contracts are useless that
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couldn't be further from the truth
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whether you're an employee or an
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employer employment contracts can be of
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serious value and/or can seriously
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deprive you of your rights it all
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depends on the content and so much can
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go to anything from post employment
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obligations to confidentiality you
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probably top of our list termination
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provisions so something which dictates
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what your rights are when the employment
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agreement when the employment
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relationship ends and so they're of
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extreme importance and it's one of the
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number one areas that we're dealing with
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is either drafting or dressing and some
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way or another the the effect of an
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employment agreement and finally let's
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go into myth number five which is online
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severance calculators are a replacement
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for legal advice now online severance
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calculators are a great tool they are
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going a great way for employees to have
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a rough idea of where they might fall in
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place their current offer or their
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current position with their employer
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into context with what their legal
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entitlement should be the problem with
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severance calculators is they can't
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account for the many nuances involved in
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calculating severance packages so for
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example the law is ever-evolving and it
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takes an experienced employment lawyer
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to navigate that evolution of the law
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and to actually apply it to an
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employee's real-world circumstances
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similarly speaking severance calculators
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often will give you a range so it may be
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you're entitled to anywhere from 12
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months to 18 months and it takes an
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experienced employment lawyer to put you
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at the higher end of the equation and
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similarly there's another number of very
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minor marginal factors that often won't
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be factored into a severance pay
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calculator that will that could very
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well have a tremendous impact on an
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employee severance entitlement so while
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we certainly say these are great tools
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and great ways to get a rough idea where
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you should be there's certainly not a
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replacement for it
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legal advice absolutely well thank you
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for your time today appreciate you
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joining us in our little room here you
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can find our website at www.export.gov
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