Today’s topic is “I’ve just been laid off and I don’t believe the severance is what I should receive.” So, you’ve been terminated and you feel the severance package that has been offered is not adequate. We’re discussing Severance Pay in 2020: How to get a better package.
Hi, I’m Martin Buckland. I’m an executive career management practitioner and I help senior executives across the world reach their career goals.
Firstly, I’m not a legal beagle; I have no legal qualifications at all, but my experience tells me that they expect you to go back for more. Their first offer often is not their last offer. So, assess the situation. If you are comfortable with it, then accept it. But if you feel in the back of your mind and there’s something niggling at you that you deserve more, then you probably do.
Either attempt to get a better offer yourself or better, still employ an employment lawyer who knows the acts in your particular jurisdiction. They will review, for maybe an hour of their time, the severance package and advise you. Then you will be on a better platform to maybe go in for more. It’s important that you know what you’re entitled to in your particular country.
Don’t Make Any Rash Decisions
What I am suggesting to you is that you sit on it overnight and never sign that severance when you’re on the exit interview, because that’s a big mistake. They will try to get you to sign that severance because it’s in their own interests, but it’s not in your own interests. So you need think about it, maybe for two or three days; often they give you five or six days.
My advice to you is go and see a professional, an employment lawyer who will know everything inside out and give you his or her expert advice.