Severance Package Negotiation Tips: How to Maximize Your Compensation

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Severance Package Negotiation Tips How to
Maximize Your Compensation
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• Leaving a job role isnt easy, but severance pay
  is meant to help make the transition from one job
  to another less stressful. If youve 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,
  dont forget that you have time. Rather than
  rushing into accepting any offer, reserve your
  right to take a step back and consider whats
  fair.

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• Be wary about what youre 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. Dont sign and give
  up your right to negotiate. Even if the terms are
  very generous, you may still wish to consider
  whether theres a potential for a better dealor
  if something is missing in the current offer.
  Dont forget, its not just your salary your
  benefits and other forms of compensation matter,
  too.

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• Dont 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.

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• 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.

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• 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.

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• Dont leave potential money thats owed to you on
  the table. Connect with our team today to discuss
  your options when youre 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.