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Negotiating severance packages

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Do you agree with Nick that you should negotiate your severance package when you're negotiating the job offer? Tell us what you think about negotiating severance packages at the time of hire, as featured in Thursday's Career Advice e-newsletter. What experiences have you had with severance packages? Have you ever negotiated a severance package?

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Negotiate?

by tape lady In reply to Negotiating severance pac ...

Most major corporations have established policies in the HR guide. I took the package and it was something like 2 weeks pay for every year you worked up to 10 years and 1 week for each addtional year plus any unused vacation. I walked out with 1 year 3 months salary that IRS very kindly took about 43% of. Where things get hairy and not in writing is if they add time to your age for the pension plan,

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Don't ask, don't get

by Theresa777 In reply to Negotiate?

I managed to negotiate a decent settlement when my employer made my post redundant recently. They offered me the minimum (UK statutory minimum). Each company's severance package is different but you may have some room to negotiate, so find out. I had another couple of meetings with them and asked them to support additional training and education as a good will gesture. I managed to appeal to their better nature and they supported my proposal. Plus I asked for some stationary to help me get going on the job hunting and they obliged. I found that if you are calm and professional about it and you ask politely, you might be surprised what you get in return. This may work for you, it may not, but if you don't ask, you won't get.

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What severance?

by brian.kiser In reply to Negotiate?

I've been in a professional working environment for over 10 years and don't know of a single company that offers severance. Not to say they're not out there, but every company certainly doesn't offer severance!

I have worked in small and medium-sized towns (biggest = Lexington, Kentucky). Perhaps severance is more common in large cities.

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company in large city does not offer eit

by grace.wang In reply to What severance?

In Cambridge, Mass, a non-profit, 1000-employee DOD contract company is downsizing people by firing them one by one quietly.
It claimed that it has no money to pay severance.
The tactic it uses is: put an employee on "watch warning" (PIP) regardless this person has no flaw in performance history or track record. Then after a few months, off you go.

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Company should have a policy

by mikeaclark99 In reply to Negotiate?

I agree with tape lady, a company that does not have a published severence policy, even if it is "we provide no severence", from the HR department is opening themselves up for trouble. One should expect not to be able to change this at the interview time, although it is smart to ask about it. Another major reason for severence packages is business continuance and transfer of intellectual property, especially in down-sizing. A "downsized" employee can be required to sign a paper attesting to the fact they have returned all equipment and access devices owned by the company before receiving their severence payment. They might also be offered additional severence to document and transfer IP in a professional manner before leaving.

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Planning to quit b4 you begin?

by admin In reply to Negotiating severance pac ...

I would look towards another candidate...

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Planning to (NOT) get fired b4 y begin!

by pear7777 In reply to Planning to quit b4 you b ...

Looks like your hiring a lot?

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Severance = not to sue

by Johnny5 In reply to Negotiating severance pac ...

I work in a big company. To get the severance, I have to sign "not to sue" agreement. No free lunch.

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Hire at will - Resign at will

by patsw1 In reply to Negotiating severance pac ...

On the way IN you cannot negotiate a severance unless you have an employment contract. Most US IT employees do not get an employment contract. It's "fire at will / resign at will". I think people will laugh if you attempt to negotiate a pre-employment severance agreement.

On the way OUT, you've got a lot of potential reasons to SUE the employer, such as discrimination or you are a whistle-blower, etc. The company offers a serverance as an incentive for you to give up any and all claims that you can make. If you
really are being discriminated against, get a lawyer and negotiate a number to keep the case from going to trial.

I didn't see Nick's assertion that you -should- negotiate a severance. What reason do you have for doingso? What is the obligation of the company you -used-to- work for beyond the compensation you negotiate on the front-end? Having a rainy day fun d is going to be the employee's responsibility and that's what unemployment assistance is for.

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