Negotiating For Employment Severance Packages

Negotiating for Employment Severance Packages

by

Jan Camille Canivel

Nowadays, most employees have their own experience of switching or transferring jobs. There are also various reasons why employees transfer to another company for employment. These reasons may be either favorable for them or not.

When the ties between the employee and the company are broken, the issue with regard to employment severance packages materializes. The ties between employees and the company may end due to reasons including: when an employee decides to resign or to stop working for the company when an employee was laid off when an employee was fired by the company he/she is working in when an employee retires by choice or when he/she reaches the limit in the retirement age When employees leave their company due to one of the reasons mentioned, they may be given severance packages by their employers. Things to Know About Employment Severance Packages An employment severance package is comprised of benefits usually given by an employer to an employee when the latter leaves the company. In the United States, there is no law that obliges employers to give severance packages to their employees. In addition, when an employer does the act of giving a severance package to an employee who left the company, it is regarded as voluntary. Some of the reasons why employers give severance packages to the employees include: an employer gave an oral promise to provide one there is the existence of a written contract wherein it is stated that the employer will provide the employee with a severance package there is a promise in the employee manual or handbook that it will be given the company has a history of providing a severance package to employees who leave the company Meanwhile, severance packages that may be provided by employers to the employees also contain other benefits that are not limited to money, or financial matters. Employees can negotiate for benefits that may be included in the severance package, if they are in the right position to do so. The benefits that employees can ask for in a negotiation may include: Unchallenged or uncontested compensation for unemployment- There are instances wherein employers contest the unemployment claim of employees. In order to avoid this situation from happening, employees should ask their employers not to do it for them to be able to get their unemployment benefits. References- If employees are leaving their job because of a reason that is not favorable for them or unpleasant; they may talk or work it with their employers in producing a mutually agreeable reference letter. Insurance benefits- Although the laws of health insurance may allow employees to keep their health care they had with their employer but oblige the former to pay for the premiums full cost for the coverage to continue. Outplacement services- Employees are helped by outplacement firms when they are seeking to find new employment elsewhere. These firms may give you job skills training, and counseling, among others, which may lead you to potential jobs. Importance of Employment Severance Packages Employees who left a company may suddenly encounter problems with regard to finding another employment, as well as financial problems. Through the severance packages that employees may acquire, their financial problems, as well as their problems in finding new employment will be lessened.

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Negotiating for Employment Severance Packages