Posts
When people are first hired, they can get overwhelmed with the compensation, benefits, and other incentives offered by their new employer. At this comfortable stage, perhaps one of the greatest mistakes is not to negotiate for a lay-off package right upon signing employment papers.
Securing a good severance package is actually comparable to purchasing a health insurance plan. By obtaining one, there is no need to worry should unforeseeable circumstances arise. For healthcare plans, that unfortunate event may be a life-threatening disease. For severance pay, it can be the unexpected termination that is so common nowadays.
This is especially important for those who are already middle-aged and deserve senior positions. When they get laid off, it will take quite some time, not to mention quite effort, to find a new employer who will treat them well and pay as much. Only when they face the prospects of being terminated do they realize its importance.
With an adequate severance pay, an employee will have in his hand on enough funds to sustain himself while in transition to a new job. Or for the entrepreneurial types, the pay can even be the seed money for a business. If the package is too costly, it can even be the reason for the company not to consider him among the candidates for termination in times like these.
While there is no law that requires an employer to provide severance package, an employee would do well to negotiate for one as early as the employment negotiations. If it is mentioned in the employment contract, the company will be legally bound to provide the layoff package.
Resource Box: Career Protection is a firm that provides assistance to executives and professionals in negotiations concerning employment, including those for a "layoff package". Visit http://www.careerprotection.com or call (877) 475-2948 for more information.
About the Author
Jeff Paul is a writer and copy editor who likes to share information on many different topics.
No comments:
Post a Comment