10 Things To Know About Severance Packages

What about the Non-Compete?

One of the biggest sticking points for employees is the non-compete portion of their agreement.  In fact, most companies have employees sign non-compete and confidentiality agreements as part of the employment offer and on-boarding. This section of the agreement is typically a reminder of what you have already signed.

Look over the non-compete in terms of three areas: geography, scope of the agreement and duration. Many employers are sensitive to employee issues during layoffs and will try to narrow scope to direct competitors, limited geographies or timeframe. As you review your agreement, check what you signed at time of hire. If you find yourself in a situation where you are concerned you are a risk of violating the agreement, check in with your former employer. Many HR professionals will work out non-competes on a case-by-case basis.