Sheconomy Magazine – Severance or Exit-Packages
Corona hits hard and your company is or might be forced to restructure and lay off people. You are frightened to death because it might hit you. After all, you are not one of these Artificial Intelligence or Big Data types who are badly wanted everywhere. You are ‘simply’ a decent collaborator working hard every day to earn your worth – as is 99% of all workforce!
So, what can you do in case you are hit?
Of course, in most companies you have the workers’ council or the trade unions (depending on the country) supporting you and maybe offering social plans with clear exit packages for everyone…BUT…
…what, if you go one step further, negotiate your exit proactively and try to make the most out of this new situation?
Did you know that most companies are not only open to negotiate salaries with their employees but also the conditions of your severance pay/ exit package?
How do you need to go about it to make the most out of it?
Prepare carefully – you will create the basis of your financial security for the next months to come and guarantee a certain freedom of choice for your next career move.
What can you negotiate:
- The amount paid upon termination including potential bonusses or long-term incentive plans
- Benefits (company car/pension plans/ insurances/ laptop, mobile etc)
- Outplacement assistance
- The exact time of departure
- The announcement of your departure – depending on your position
And do not underestimate the psychological effect! Having successfully mastered this horrible situation will reduce your stress level, boost your morale and self-esteem and thus, considerably increase your chances to get a new job.
To master this difficult time best you can, you might want to work with an expert www.salarynegotiations.at