Leaving a job role isn’t easy, but severance pay is meant to help make the transition from one job to another less stressful. If you’ve recently ended a job or expect a layoff, taking the time to understand your rights can pay dividends in the future. Take a look at some key tips for getting the most out of your severance package and see how an employment lawyer in Alberta can help.
Remember: you have time to negotiate.
Employees often feel pressure to accept a deal immediately, especially when an employer may present an offer during the termination process. However, no matter how much of an illusion of time pressure an employer may create for you, don’t forget that you have time. Rather than rushing into accepting any offer, reserve your right to take a step back and consider what’s fair.
Be wary about what you’re asked to sign.
In line with pressure tactics designed to leave you with less severance than you deserve, employers may ask you to sign offer letters or other paperwork right away. Don’t sign and give up your right to negotiate. Even if the terms are very generous, you may still wish to consider whether there’s a potential for a better deal—or if something is missing in the current offer. Don’t forget, it’s not just your salary —your benefits and other forms of compensation matter, too.
Don’t give up your right to make a counteroffer.
Keep in mind that this process is, in fact, a negotiation for your severance package. Alberta law does not preclude you from making a counteroffer to your employer. However, before you do so, you should take steps to understand precisely how severance calculations work. You should seek to be paid for the value of your service time and contributions, but be careful about overreaching.
Understand what you can reasonably ask.
How many months of severance should you receive? What other considerations should be a part of your package? Determining the answers to such questions is easier said than done. Severance can vary a large degree from employee to employee. There is a way to make this part of the process easier: find some experienced input.
Seek help from professionals who understand severance.
At Lypkie Henderson, we have years of experience in calculating and negotiating appropriate severance packages. Consider the value of allowing a proven employment lawyer in Alberta to step up and represent you. With a clear understanding of the law, we can negotiate with your employer on your behalf in pursuit of the best deal possible.
Don’t leave potential money that’s owed to you on the table. Connect with our team today to discuss your options when you’re owed severance following a dismissal. Together, we can work towards an outcome that leaves you secure and ready for the next step in your career.
