Time Magazine recently wrote a great article on negotiating severance packages in today’s economy, something more and more of us are facing these days. Glassdoor career and workplace expert Rusty Rueff is quoted in the piece on some if his negotiation tips we’ve written about in the past.
As a refresher, here are some of the key tips from Rusty when faced with job elimination:
Always take the time to seek counsel to understand separation agreement. Your employer will likely want you to sign an agreement before they extend any severance or other separation benefits, and will offer you the time to talk to a lawyer before signing the release agreement. Take that time.
Ask for employment and salary continuation versus a lump sum severance payment. Severance usually represents the equivalent salary for a period of time, and companies often disperse this as a lump sum payment because there are accounting benefits. However, staying on the books gives you the benefit of time to take care of other business that may require employment verification.
Request your benefits to continue through the time of the separation package. Regardless of whether you are successful in extending employment, you should ask that your health and dental benefits be extended ...
