A dear friend of mine begins a new job today, after several weeks of leisure following a layoff. She was in the enviable position of receiving a decent severance package due to widespread cuts at her employer, and being able to job hunt from the time the layoffs were announced. The severance allowed her to accept a lower-paid position and kept her family afloat until the new job started.
Of course, the timing doesn't always work out so seamlessly. I also have a good friend who received a year-long severance package but then found the money ran out because of the difficulty in finding a new job in a shrinking industry at her level of experience.
Clearly, it's wise to do everything you can to boost the severance package you receive upon employment termination. Perhaps the company didn't count years of part-time work in your tenure or discounted a break in employment, for purposes of calculating the package. Ask for a different equation. If you're at a smaller employer that doesn't propose severance, you can always request compensation or even extended benefits. Get creative with your negotiating, as guest author Tracey Porpora recommends in her severance package article below.
Have you managed to boost the initial severance offered by an employer? Please share your advice and experience!
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