Fired? Negotiating Severance: 10 Keys to Success

# 1 GETTING THE NEWS

You are told by your employer that you will no longer be employed. Your terms of termination are presented verbally or in writing. What do you say? What do you do?

If you say anything, it is; "This comes as a surprise, I am upset, shocked, upset, concerned. DO NOT debate the terms, notice or severance, holidays owing or benefits. DO NOT attempt to be your own lawyer. If you do argue the merits of the proposed settlement or your termination you do become your own lawyer and probably have a fool for a client.

Ask for the proposal in writing. Say nothing further except, "I need to get some advice". Contact an experienced employment lawyer and book a consultation to review the proposal. Most packages are not just about the number of weeks or months of salary continuation being proposed. It is really about how the notice and severance are being packaged. For example, is it just salary over the proposed term or does it include bonus, holidays, benefits? Are the payments guaranteed over the term or do they stop on re employment? What efforts, if any do you have to make to seek re employment? Are you being given a lump sum amount not subject to re-employment (mitigation)? Is the lump sum being discounted for present cash value? Are you being provided with outplacement counselling? If so, for how long? There are many questions and many approaches that need to be reviewed so that you get the best deal available. You, your family and future career depend on getting what you are owed and having a clear understanding of your legal entitlements. 

There are usually opportunities for improvement but that depends on a thorough review by an experienced eye. UNFORTUNATELY YOUR WORDS UTTERED AT THE TIME YOU RECEIVE THE NEWS may severely limit your potential settlement with your employer. THE LESS SAID THE BETTER if you wish to preserve your options and not limit your employment lawyer's ability to negotiate the best deal on your behalf.

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