Negotiating a severance agreement can be a stressful and complex process, especially if you're not
familiar with the legalities involved. In this article, we'll discuss five tips for negotiating a severance
agreement.
Understand the Terms of the Agreement
Before entering into negotiations, it's important to thoroughly review the severance agreement and
understand its terms. The agreement will typically outline the amount of severance pay, the
duration of any continued benefits, and any other terms or conditions that apply. It's important to
ensure that you understand these terms and are comfortable with them before beginning
negotiations.
Consider Your Leverage
When negotiating a severance agreement, it's important to consider your leverage. If you have a
strong case for wrongful termination, for example, you may be in a better position to negotiate for a
higher severance payment. Similarly, if your employer is eager to avoid a lawsuit or negative
publicity, you may have more leverage in negotiations. Understandi
ng your leverage can help you
negotiate more effectively and achieve a more favorable outcome.
Identify Your Priorities
Before entering into negotiations, it's important to identify your priorities. What is most important
to you in the severance agreement? Is it the amount of severance pay, continued benefits, or
something else? Identifying your priorities can help you focus your negotiations and achieve the best
possible outcome.
Be Prepared to Compromise
Negotiating a severance agreement often involves compromise. You may not be able to achieve
everything you want, but by being willing to compromise, you can still achieve a favorable outcome.
It's important to enter negotiations with a clear understanding of what you're willing to compromise
on and what you're not.
Consult with an Attorney
Finally, it's important to consult with an attorney before entering into negotiations. An experienced
employment law attorney can review the severance agreement, provide advice on the terms and
conditions, and help you negotiate more effectively. An attorney can also help ensure that your
rights and interests are protected throughout the negotiation process.
Negotiating a severance agreement can be a complex and stressful process, but by following these
tips, you can achieve a more favorable outcome. By understanding the terms of the agreement,
considering your leverage, identifying your priorities, being prepared to compromise, and consulting
with an attorney, you can negotiate with confidence and achieve the best possible severance
package.
