Severance Payment – notice of termination clauses
If you are employee, one of the best protections you can secure yourself in negotiating your employment contract is a long notice period. In the unfortunate event of termination a notice period gives you time to look for alternative work.
Fair Work has strict rules about the notice period required to terminate employees and establishes a guideline for severance payments – it is a lot less than some people realise and is capped. Rules vary depending on how long an employee has been employed by the business and this will determine how much notice is required as well as payment.
Some employees do not require notice according to Fair Work and can be dismissed without a notice payment.
To understand exactly what your options are, either as a business or as an employee, including negotiating or drafting clauses in an employment contract, give us a call and we can work through your matter together. Gorval Lynch are experts in employment law and we work closely with our clients to deliver the best possible outcome.