Similar to how you discuss the salary and job benefits, such as stock options when you first receive a job offer, you can negotiate your employment severance package when your employment is terminated. The future circumstances after losing your job are uncertain. You must negotiate your package in the best manner to ensure that it is sufficient to protect you financially.
The guidance and expertise of a Connecticut employment law attorney is a must for a favorable outcome of the severance negotiation. They understand how distressing your situation is and work dedicatedly to provide the best results.
Important tips to remember
- Consult a lawyer.
Lawyers are trained and skillful negotiators that understand the other person’s tactics. They are experienced and apply effective strategies to ensure that you receive the maximum severance package. Their presence enables you to understand what the package comprises in addition to the payment, such as medical benefits and paid time off. They offer advice that helps you receive the most beneficial package that protects you until you find a new job.
- Do not make rash decisions.
It is not uncommon for you to be angry and frustrated after losing your job. You may consider signing the severance agreement without much thought to relieve the stress. However, this may hurt your future, and you must remain calm and careful before agreeing to the terms. Time allows you to organize and understand every aspect of the agreement in detail and helps you make better financial decisions.
- Assess your past performance in the company.
In order to receive a higher severance package, you must show the employer that you were a valued employee. You can provide records of your past reviews and successful contributions you made to the organization’s development. When your employer takes into account your dedication towards their company, they are likely to think of you as deserving and are ready to agree for more benefits.
- Prioritize your goals.
Everyone has their long-term goals for the future that they want to accomplish. While an employment termination can hinder these goals, you can modify the terms of the severance package in a way that can help you reach these goals despite the setback. Be ready to compromise on components that do not matter as much to you to achieve these terms.
Negotiating for your severance package without assistance can be daunting given the severity of the future consequences. A Connecticut lawyer offers you the best advice for your settlement and helps you settle for a successful deal without the need for costly and lengthy litigation.