Tips to Negotiate a Severance Agreement

Severance Agreement

When it comes to negotiating a severance agreement, employees must know that they may have to face many daunting tasks so that they can take some advantage of their severance agreement since it is very crucial for an employee when he/she is about to lose his/her job. In Connecticut, it is essential to understand the specifics of a severance agreement so that the employee can get fair remuneration and other benefits. 

If you are an employee in Connecticut, therefore, you must make sure to hire an employment attorney to deal with your severance agreements in Connecticut. Your attorney will make sure to go through all the terms and explain all the difficult terms easily so that you can comprehend the tips to negotiate your severance agreement.

Tips for negotiating your severance agreement:

  • Understand your rights

It is a basic sense that whenever you are about to negotiate with someone on something, you ensure that what cards you hold in the agreement; likewise, before getting into the negotiation, you must make sure that you are aware of your legal rights. In addition, you should also understand your entitlement according to your contract with your company. Understanding your rights and entitlement will surely help you in building your strategy.

  • Review the severance package

You must make sure that you review your severance package carefully and thoroughly. In your severance letter, you will learn about the severance pay, the continuation of the benefits, and other perks. Therefore, you should review it properly so that you can have an idea of the areas where you should negotiate to get better options for yourself.

  • Assess your needs and priorities

Before negotiating with your employer regarding your severance agreement, you must ensure that you have assessed all your needs and priorities, such as your health insurance, healthcare requirements, and other necessities. Therefore, assessing your priorities and needs can help you get a proper overview of your negotiation strategy so that you can build a roadmap in your mind and talk through your employer.

  • Prepare your negotiation points

You must understand that whenever you are up to a negotiation, you have to make sure that you give reasons that indicate that there is a benefit for both parties. Therefore, once you have been through all your priorities and needs, start making your negotiation points. Thus, in your negotiation, you must ask for an addition to your severance pay, more healthcare facilities, more stock options, and many more. Therefore, you should focus more on your reasoning since it is the base of your negotiation.

  • Be prepared to compromise

Negotiation is an agreement where both parties have to take something in return for something. Likewise, if you are negotiating with your employer, you must be prepared to accept some of your employer’s conditions if you want to keep this negotiation up. Thus, you should agree to your employer’s offer, yet you should have a firm grip over things that are identified as your priority. 

  • Document everything

When you are in the middle of your negotiation, you must ensure that you document everything, such as emails, messages, letters, and other notes. Keeping a detailed record of your negotiation is significant since, in the future, if there happens to be a misunderstanding or dispute, this documentation will serve as your evidence.

Hire an employment attorney

Make sure that you hire the best employment attorney for yourself with the best track record and experience. You should run a background check on your attorney so that you can be rest assured about his/her work. Therefore, your attorney will be there with you throughout the negotiation to help you understand the complex terms and other issues and make sure that the entire process is done legally.

Negotiating your severance pay can be complex for you; thus, consider seeking legal assistance from your attorney.