Severance package seems more like a shelter in storm. When you are laid off, you indeed feel devastated. You are left with no job. No money, no future. And then the severance package comes to your way as a knight in shining armour. Most of you must have signed the documents unknowingly that you have actually sold your right to claim! But at that crucial time, there is no other option. But the good news is you can make the only option as the best option.
A normal severance package contains some fixed amount that the company will give you when you will leave the employment. This money includes the unused sick leaves, vacation etc. Depending upon the duration you have served that company, the severance package is offered. Like for instance, if you are just few months old in that organization, the employer may not give you any benefit other than a lump sum amount. However if you have spend a fairly good period in that company, you can expect some thing lucrative.
The good news is, the employer can give you this package only when you are ready to sign it. So, it means you still have your role to play. The employers are quite smart at playing these filthy games. They may tell you that you have a limited period to sign this document. However, the employer company cannot withhold the wages earned by you. Also when you approach them with your plea to negotiate they may give you cold response or something like, “We have never seen this happen”. All that you have to keep in your mind is they are playing with your emotions. They know that you are in need and therefore they are trying to make the most out of that situation.
However, you demand what you deserve. It is good to take a weekly severance payment plan. If you do this you may avail some other benefits for that specific period. For instance, many companies agree to provide you the health cover till the time your severance payment gets over. It is a wise option. This will reduce your premium at that crucial time. Some generous companies also agree upon providing the life insurance cover for that specific period. But for this, you will have to be a good negotiator. What you are asking for is a law. The employer is giving you the bare minimum. But you have always deliver your best when you were working for him. Then why to settle down at bare minimum?
Tell you employer that you expect more. Ask for a written document which says that you will be given the positive recommendation from the employer company. Also take this in writing that once your severance payment is over, the company will not create and hassle in you availing your unemployment benefits. Take a deliberate decision in signing the documents. If at all the employer asks you to sign on the clause that you will never sue them for extra money, never sign that. This is because, in this case there are strong chances that the employer feels they have dismissed you wrongfully.
Lastly, if you are unconvinced with the reason you were being fired, do not hesitate counselling an attorney. He will make you aware of the pros and cons of that package. Also he may help you in cracking a better deal. It is never too much to ask for in the severance package. So do not feel shy because you are being laid off. Just go for it because you deserve it.