Taking the "Sever" out of Severance
By Kerry Spivey

Losing a job can be one of the most disappointing and frustrating times of your life. No matter how much job security you have been assured, in a world of mass layoffs and mergers, one can never be sure that his or her job will be there when they wake up every morning. The most important thing when you are terminated is to mourn briefly and begin looking out for yourself immediately. Make sure to get what is rightfully yours in terms of severance pay and benefits. Now is not the time to hang your head, it is the time to show that you are willing to fight for what you deserve! The job market is an ever-revolving door. It is entirely possible that there was nothing that could have prevented you from losing your job, but you can avoid letting the door hit you on the way out. Here are some things to consider when negotiating your severance package:

It's the Law.
Most likely, when you lose your job, the last thing you are thinking about is the law. Your emotions may react to a lump sum of money, but avoid the temptation to take the money and run. Be sure the offer is fair. The law actually says that your employer must provide compensation for the amount of hours worked, any commissions earned and vacation time. It is also not uncommon for employers to be required to continue handling your health benefits, but at your expense. Employers who only offer those things listed above are only obeying the law. They are required to at least offer continued coverage and payment for hours you have worked. They should offer more than just the bare minimum because you always gave them your maximum efforts. Do not be afraid to tell your employer that they are breaking the law if they do not offer you what you deserve.

Read Before You Sign.
If an employer asks you to sign papers promising that you will never sue them for an extra sum of money, beware. Chances are, if an employer is asking you to sign these types of papers, he or she may feel that they have wrongfully dismissed you. If you have even the tiniest doubt over why you were terminated, do not sign any papers until you seek legal counsel. If there is any chance that they could have fired you over race, gender, age or any other affiliation, they are aware of it. And asking you to sign papers promising not to sue can sometimes be as good as an admission of guilt.

Know What to Ask For.
As you prepare to leave your job, you may only see dollar signs slowly disappearing. Try to keep in mind that money is not the only thing at stake. You need to make sure how long you will continue to be covered under company insurance. Health insurance and life insurance coverage typically end the day you are laid off, or shortly thereafter. Your most recent employer may offer some type of continuance, but you could probably find a better deal on your own. Also, what is the status of your 401-K? You may want to try and get a better payment plan if you have to repay your entire loan before you leave. Another important aspect that can be a lifesaver in the new job search is a positive reference letter from your previous employer. It is never too much to ask for a letter that outlines your responsibilities and accomplishments. A solid reference letter goes a long way with potential employers.

Offering Outplacement.
Chances are after you have just been let go from a job, your confidence is a little shaken. Having someone to help you get back on your feet can be the best way to gain your confidence. Having someone else begin a customized job search for you and reminding you of how great your resume really is can turn your job search into an adventure. You might even begin to consider your layoff as an opportunity to develop new interests and talents. Also, starting an intense job search can keep you accustomed to the fast pace of having a full time job. After putting in hours of hard work for your previous company, the least they can do is put you on the right track to finding a new job.

Define Yourself.
Even though you might be a little bummed, now is not the time to be timid. Let your employers know exactly what you expect in a severance package. Let them know that you are not going to leave until you get what you want in terms of benefits and compensation. Keep telling yourself that you are worth every penny for which you are asking. Develop a catch phrase for yourself that will keep you focused in your negotiations. For example, "I just want to be able to help pay my daughter's tuition," is a good way to keep in mind what you are fighting for. If you enter in to negotiations knowing what you want, your success rate is definitely going to be higher. Leaving a job and negotiating a severance package does not have to be a bitter exchange. In fact, negotiating can actually be a huge boost for your confidence and your ability to effectively use your communication skills to attain what you need.

Let Them Know You Will be Missed.
If you are able to show your boss how valuable you are to the company, he or she will be more willing to work with you on a severance package. You could have skills or secret knowledge that could be considered valuable to future employers. Do not be afraid to use your skills as leverage. You have spent years building your knowledge. Now, it' s time to get something in return for your hard work. Some companies will even add bonuses for you to not work with certain competitors.

As your career changes, be sure that you are always leaving a job with as much, if not more than you came in with, in terms of knowledge, money, skills and friends. Be firm in your severance package requests, letting them know that you are a master at getting what you want. Sometimes, the business world can seem like a revolving door that you are walking against, especially after being laid off. But, keeping these hints in mind should be the first step to making sure you walk out one door with your dignity and in another with confidence.

A JobSeekerNews.com Article