| Being continuously employed is more or less a | | | | employees to ask for what they believe is just |
| sign of economic security for an employee, | | | | and lawful to ensure their continued economic |
| especially if his or her family has no other source | | | | security even as their employment and regular |
| of income but the salary being earned by the | | | | salary is on shaky ground. |
| employee. | | | | Here are several tips in negotiating for your |
| However, even if the employee has shown | | | | severance package agreement: |
| exemplary performance on the job, nothing may | | | | 1. Preparation - distinguish yourself from the |
| keep him or her from maintaining or holding on to | | | | others being offered with package. Set these |
| it if the company itself is going out of business or | | | | factors about yourself apart from others: |
| suffering terrible financial losses. | | | | - your year of service |
| Failing businesses eventually closes down and then, | | | | - contributions to the business |
| even if there is still some money left in its bank | | | | - specific contribution that had a huge impact in |
| accounts, these funds are returned to the | | | | the business |
| investors of the business. Thus, there is no | | | | Repeatedly persist on these albeit politely |
| chance that the employees affected by the | | | | stressing your right to sufficient package based |
| closing down may get any severance pay. | | | | on these points. |
| Some companies that are already failing but have | | | | 2. Remember that items you may want to be |
| not yet entirely shut down, may provide | | | | included in your package may not have been |
| severance payments for those employees | | | | considered or thought about by your employer. |
| intending to remain behind even as the company | | | | 3. If you feel that the employer benefits plan to |
| continues to suffer constraints. While those who | | | | be offered on the next month is much better |
| are being discharged because of downsizing | | | | than what is being already offered, you can |
| policies, to save at least part of the business, | | | | request that the date of your official termination |
| may be given severance pay as an act of | | | | be changed to avail of the next month's package |
| goodwill by the employer. | | | | offer. |
| If the company has failed altogether and shut | | | | 4. Other important milestones may be treated |
| down, there is no reason for the company to | | | | the same way, too. If you were already nearing a |
| preserve any goodwill with former employees, | | | | vesting milestone to have stock options, check |
| although admittedly, they are the hardest hit | | | | out to see if you can extend your termination |
| when these things happen. | | | | date and then request for a prorated incentive |
| Receiving severance pay would have helped in | | | | payout. |
| tiding them over after losing their jobs. However, | | | | If these do not work, appeal to your human |
| this kind of benefit is based on the capacity and | | | | resources manager and supervisor, ask about |
| or willingness or the employer, a management | | | | their terms and sign if you agree to such terms. |
| prerogative. | | | | It would still depend largely on your company's |
| On the part of the employees, negotiation is the | | | | circumstances and financial situation. |
| key to gaining a severance package and securing | | | | However, this issue has grave importance on |
| an agreement with the employer concerning the | | | | every employee facing these circumstances. |
| provision of such package. | | | | There is no other way than to assert yourself |
| It remains largely on the decisiveness of the | | | | and hope for the best. |