How to get the best severance package

How to get the best severance packageSoit happened. Youve gotten the bad news that youre fired, or laid off. It may feel like the world is endingor you may just feel shock. Whatever youre feeling, the fact remains the saatkorn youre leaving your job, and not by your own choice. While you do need to embrace that reality, you dont necessarily have to take the severance package that was initially offered to you. googletag.cmd.push(function() googletag.display(div-gpt-ad-1467144145037-0) ) When the worst happens, take these considerations into account to see if you can improve your severance.Talk to a lawyer.An employment attorney can help you navigate the waters after youve been terminated, particularly if you feel like you werent fired for proper cause or you were marched out of the office quickly without the chance to take stock of the situation. This doesnt mean sue the bastards, but it does mean you should get a professionals advice on whether you do have grounds for a potential su it. An attorney can also help you figure out if you have any wiggle room for negotiation.Negotiate yourself.Even if you do have an attorney, its usually the best course to do the negotiating yourself (unless you are likely to file a lawsuitthen its best to have your attorney either present or speaking on your behalf). Having someone negotiate for you can escalate the tension, so be careful to keep the tone civil if youre hoping to get a better deal.Ask for more.At this point, you have little to lose, so you should request a higher severance payment. You should definitely be realisticthe payment is unlikely to double or triple from an initial offer, but you may be able to negotiate a lump sum payment vs. continued salary or an increase in the total payment.Nail down insurance information.One of the trickiest parts of unemployment can be insurance coverage, especially if youre used to having solid coverage through your job. The Consolidated Omnibus Budget Reconciliation Act of 1995 (a .k.a. COBRA) means you can likely continue your insurance coverage for up to 18 months, but at your own expense. If coverage is a concern, this is a point to raise with the company. You may be able to get the company to keep paying for your insurance for a period of time after you leave.Ask about unused benefits.Some companies may offer a check in exchange for unused vacation or personal time, so be koranvers to see whats on the table and fully understand what your companys policies are on that front.Be clear on whats in the severance agreement.Always, always, always read the fine print. Some severance agreements contain non-compete language, which limits your ability to go work for a competitive company. Others contain a non-disparagement clause, which means you may have to forfeit your total severance package if youre busted saying anything negative about the company after you leave (even if its true). Make sure you understand what the conditions are if you accept the severance pa ckage.Once you get the bad news, the important thing isdont panic. Or if you do panic, try to get it out of your system and then settle in for the next phase of talking through the logistics of your leaving. Just like negotiating a salary, you may have the chance to improve your packageif you ask for it.