Top 5 Myths About Severance Pay
Why not ask for more?
In my effort to help employees increase their severance pay, I am struck by several recurring themes that I hear as excuses to not ask for more. So let’s dispel them.
My deadline to sign is very soon. The timeline your employer gives you to sign may vary by state. However, if you are age 40 and over, your employer must abide by federal law, which requires at least 21 days. If you are under age 40 and in California, you have a minimum of 5 days. But keep in mind, whatever deadline your employer gives you, it’s for you and not for them, and there is nothing magical about any date. You can always ask for more time. I help people do this all the time, and not once has an employer refused this request. I recommend asking for more time then we need. So if you want another week, as for two, etc. Your lawyer can also ask for you if that makes more sense. Also keep in mind that once negotiations begin, those deadlines become meaningless because it may take some time to get to an agreement.
I may lose the offer they made. This is not a thing. Your employer has made you an initial offer. When you make a counter-offer, that does not negate theirs or force them to take their initial offer off the table. It’s a matter of negotiation. As long as you are still within the window of review, their offer remains.
I don’t want to rock the boat. This one I only hear from women, isn’t that interesting? Look, you have been terminated, so that boat was already rocked and not by you. Some seem worried about their “reputation” in a small industry. Newsflash: nobody will care that you stood up for yourself and asked for more money. You know why? They will never know. Women: you have been conditioned to be a “good girl” and it’s time to let that shit go.
My company has a policy. Policy, shmolicy. I often negotiate more money despite corporate policies that dictate a set amount. Sometimes in a mass layoff, companies stick to a policy regarding how much severance they will pay out, but even then it’s still worth asking. It’s ALWAYS worth asking.
They may say no. That’s true, they might, and who cares? What many fail to understand is that a severance agreement is a negotiable contract between two parties, not a take-it-of-leave-it situation. Even without any legal claims, employers will often pay more severance then their initial offer. In fact, they low-ball their offer in anticipation of paying out more. SO JUST ASK!
Need assistance? Contact me here: www.workplacetraumalawyer.com