Wrongful termination can have significant financial, emotional, and professional consequences for employees in New Jersey, as in any other jurisdiction. New Jersey, like many states in the U.S., recognizes both at-will employment and certain exceptions to this doctrine that protect employees from arbitrary or discriminatory firings.
Learn more about wrongful termination and how you can get compensated for it. Today, we will explore the real costs of wrongful termination for employees in New Jersey.
Costs and Impacts of Wrongful Termination
The ill impacts of wrongful termination come in multiple facets, which are discussed below-
1. Financial Impacts
The most predominant costs include a sudden and unanticipated loss of income. This can be particularly challenging if they do not have immediate alternative employment lined up. Also, there are repercussions of unemployment, which may last for a long time.
2. Legal Expenses
Next in line are the expenses made on the legal action taken against the employer. Employees who believe they were wrongfully terminated may choose to pursue legal action against their former employer. This can involve hiring an attorney, which can be expensive. Legal fees can quickly add up if the case becomes complex or drawn out.
3. Professional Costs
Being wrongfully terminated can disrupt an individual’s career trajectory. If the wrongful termination is publicized or becomes known within the industry, it could harm the employee’s professional reputation, making it harder to secure new positions.
4. mBenefits and Retirement Plans Loss
Wrongful termination can lead to the loss of benefits such as health insurance, retirement contributions, and other perks that were part of the employment package. If an employee was contributing to a retirement plan through their employer, the termination could disrupt their retirement savings and plans.
5. Emotional Toll
Wrongful termination can take a toll on an employee’s mental health, leading to emotional distress. Issues like stress, anxiety, and even depression surface, impacting the person’s overall well-being and ability to seek new employment.
The costs involved in wrongful termination are not only monetary but involve physical, mental, and professional losses. While New Jersey state law allows employers to terminate an employee without giving a reason, if the employees believe they have been wrongfully terminated, they must approach a professional legal expert as soon as possible.
A competent attorney will help you get compensation for all the losses incurred, whether monetary or not, and would set a precedent for the employer to be careful thenceforth.