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6 Basic Tips When Negotiating A Severance Package

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We live in volatile times. One day you’re employed and living your best life, and the next you’re ousted. Life turns around quickly. While losing a job looks like hell, it doesn’t always have to be like that. While at first, you are probably going to be lost, there’s no time to lose.

Being without a job doesn’t have to last long, and the relationship with your previous employer doesn’t just end up like that. Even when the situation looks like it’s heading to an absolute grim scenario you need to be able to look forward.

By looking forward, you first need to see what you have deserved with your past work. When an adventure at one job ends you are entitled to severance. This money will help you plan for the future, and feel safe in the present. This sum depends on your previous experience and the position you held at your ex-company, but it can vary due to other factors.

Above all else, you need to know how to hold yourself to get the best deal possible. By now you must be wondering how to do this? Well, it is going to be much easier if you follow our basic tips when negotiating a severance package. Let’s see how to do this.

1. Lawyer Up

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It doesn’t matter if you are ending your relationship with your ex-employer on good terms. They’ll be looking for their interests and you need to look out for yours. While it’s possible to do this on your own, you are better off having this business in the hands of professionals.

Law firms such as tjworkplacelaw.com can take a look at your case and be of great help with your severance claim.

It is one thing to leave your former employer with mutual respect but it’s a whole other to leave with as much as you can. The hard work you’ve put in the past needs to be rewarded. To ensure that your interests are seen from the right angle you’re better off having legal help and hiring an attorney.

Trust us on this matter. This is the first step on your future path. Make sure that you don’t stumble, and even if you do, have someone holding your hand and making sure you stand up again.

2. Stay Strong

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Losing a job will make you feel and appear weak. This situation affects us all the same way. It is not easy to do what we’re asking in this paragraph but you need to resurrect just like Gandalf did after battling Balrog.

When it comes to severance packages you need to leave the room satisfied. This is something you’ll negotiate directly with your former employer. This is why you need to be strong and keep your wits.

A clear head is your biggest friend. If you can’t do this, then the paragraph above is more important for you than for someone who can do it. Don’t make a mistake and damage yourself because you are going to approach this matter passionately. All feelings need to be left outside when it comes to situations like these.

3. Don’t Sign on a First Date

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Even if you remain cool and collected, and are in the presence of your attorney you might feel the urge to get things done straight away and just sign the papers. This is not wise to do, and we do not recommend it. In fact, we’re advising you against it. With these things, there are dates and deadlines.

You are not even obligated to sign it right now. What you should do, is take the papers, and read the agreement, word per word. Also, considering that you listened to our first tip, you should have your attorney read it. This is where you can make a counteroffer. All of our previous trips were for this moment.

As we said. This is a thing that doesn’t need to be resolved right away. Don’t rush anything. Be patient; be wise.

4. Seek Other People’s Experiences

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This is a great move. In a situation where you had your coworkers being laid off before you, the advantage is on your side. You can ask them for their experience regarding the whole ordeal. Of course, the focal point is going to be the amount they received as their severance.

This is where you can see if you’re being offered a fair sum, a sum in the region of what everyone else received, or are you being treated unfairly. Many companies fire dozen of employees at the same time, so it would be even possible that all of you to handle your cases at the same time.

This is another great option as you could ask for similar offers, and even hire the same attorney.

This way you could almost guarantee that your severance package is going to be a good one.

5. Use Severance as a Salary

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One thing is for sure; your severance won’t last you a lifetime. In no time you’ll be in a position to seek new employment.  As the old saying goes, you search for a new position while you’re still employed.

Considering you’ve just been laid off, how this can be done? It is quite easy. Once you agree on the severance package you can ask for it to be distributed to you in monthly installments. This way you’ll have a regular income, just as if you’re receiving your salary. It will be much easier to find a new job with a steady income.

The stress will be minimized, and you’ll be more relaxed when going to a job interview. The best part is that most ex-employers are going to be more than happy to pay you out this way, as it suits them financially.

6. Know When to Sign a Treaty

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Getting a fair severance package is not always an easy task. At some point, you’ll just have to accept what’s on the table. Even if you’re not 100% satisfied with the final offer you might be in the situation to sign and accept your severance package.

It is better to fold early than to continue a battle you cannot win. Be aware of when your last card was out on the table. When there’s no more in your deck, understand that the game is over.