How to Get a Better Severance Package After Being Laid Off!

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How to Get a Better Severance Package After Being Laid Off!

If you've been laid off, you may be wondering what you can do to get the best severance package possible. In this video, I will share some tips on how to negotiate a better severance package.

Here are some things you can do to negotiate a better severance package:

Do your research. Find out what severance packages are typically offered in your industry and with your level of experience. This will give you a good starting point for negotiations.

Be prepared to walk away. If you're not happy with the severance package that's being offered, be prepared to walk away from the negotiation. This will show your employer that you're serious about getting the best deal possible.

Be professional. Even though you're being laid off, it's important to be professional during negotiations. This will help you maintain a good relationship with your employer, which could be helpful in the future.

Here are some specific things you can negotiate for in your severance package:

Severance pay. This is the amount of money you'll receive in exchange for being laid off. Typically, severance pay is calculated based on your years of service and your salary.

Accelerated stock vesting. If you have any unvested stock options, you may be able to negotiate to have them vest immediately. This will give you the ability to sell your stock and get the money now.

Unused vacation and sick days. If you have any unused vacation or sick days, you may be able to negotiate to have them paid out to you.

Job placement assistance. Many companies offer job placement assistance to laid-off employees. This can include things like resume writing help, interview coaching, and access to job boards.

Health insurance. If you have health insurance through your employer, you may be able to negotiate to have it continued for a period of time after you're laid off.

Bonus payout. If you were expecting to receive a bonus at the end of the year, you may be able to negotiate to have it paid out early.

It's important to remember that you don't have to accept the first severance package that's offered to you. By negotiating, you may be able to get a better deal that will help you get back on your feet after being laid off.

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