Largest Severance Packages
If you are seeking the largest severance package in Toronto, it is highly recommended that you find and engage with a licensed severance pay provider. As with any business transaction, it is critical that you get what you pay for. In this case, you will want to research severance package providers in Toronto to ensure that they can deliver on the promises made. There are many online resources available to help you do this.
The first thing you should do before engaging any professional severance pay toronto provider is to conduct research. While there are several companies offering severance packages in Toronto, not all of them can offer the same benefits, terms and conditions. Therefore, to help you make a more informed decision, here are a few tips on how to research and select the best services.
One of the easiest ways to find the top severance package providers in Toronto is to research your own self. Take time to ask friends, colleagues and family members which employers they would recommend. In addition to recommendations from those you know, it is also a good idea to contact the organizations or associations that specialize in employment law (e.g. Employment Law Association of Canada).
Largest Severance Packages in Toronto
Next, after gathering information on severance package providers in Toronto, take the time to compare and contrast the services offered by each one. In addition to comparing the services of each company, you will also want to gather information on the costs of the packages. It is important that you do not take the first contract offer that comes across your way. In fact, it is a good idea to go through at least three proposals before making a final decision.
Once you have decided what package you need and the services you require, you can begin to search for it. Typically, most employers will require employees who are nearing the end of their contracts to sell their packages in order to receive cash payments for their severance. However, this should not be the only criteria for a package; rather, it is more likely that the majority of packages will be competitive. In order to get a competitive package, it is important to look at more than just the price.
Consider how long the severance package will run for. Usually severance packages are designed to payout for twelve to thirty-six months. If you want to make sure you are getting the best deal, you should take the time to calculate how much your annual salary will be after twelve months. Then, start looking at packages that offer longer terms. For example, if you want a two-year severance package, consider getting a shorter term. This will ensure you get the best severance package for your situation and financial needs.