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How To Negotiate A Severance Package: Your Guide To Getting The Best Deal

16 June 2022

Avery Bryant

When you're let go from your job, the last thing on your mind may be negotiating a severance package. But if you take the time to learn about what's available to you, you could walk away with some extra cash in hand. Here are some tips for negotiating a severance package.

Know What You're Entitled To

When negotiating your severance package, it's crucial to know what you're entitled to. An experienced employment lawyer can help you understand your rights and entitlements. They can also help you understand the tax implications of any severance payments and negotiate with your employer on your behalf.

If you've been offered a severance package but are unsure if it's fair, an employment lawyer can assess the offer and negotiate a better deal. They can also help you understand the terms of your employment contract. Your attorney can advise you on what to do if you're being asked to sign away your rights as part of a severance agreement.

Don't try to negotiate your severance package without professional help - an experienced employment lawyer will ensure you get the best possible outcome.

Understand Your Employer's Motivation

If you're trying to get the best deal for your severance package, ensure you understand your employer's motivation. What are they trying to achieve by letting you go? Are they hoping to save money on severance payouts? Do they want to avoid litigation? An experienced employment lawyer can help you understand your employer's motivation and position yourself accordingly.

Your employer's motivation can dictate the severity of the negotiation. If your employer is motivated by saving money, you may be able to negotiate a higher severance package. That's because your employer is more likely to be open to negotiation if they think it will save them money.

On the other hand, if your employer is trying to avoid litigation, they may be less open to negotiation. They may be willing to give you a lower severance package in exchange for your agreement not to sue. In this case, an experienced employment lawyer can help you weigh up the costs and benefits of taking legal action.

Leverage Your Skills and Experience

When you're negotiating your severance package, make sure you leverage your skills and experience. If you have valuable skills that are in high demand, you may be able to negotiate a higher severance package.

Your employer may also be more willing to negotiate if you have experience in a particular field. That's because your employer may be worried about losing your knowledge and expertise. If you have unique skills or experience, highlight this to your employer during the negotiation process.

A certified employment lawyer can help you identify your key skills and experience and use them to negotiate a better severance package.

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