Laid Off :(
I was just laid off from Accenture, and I have to admit I felt betrayed. The emotions you go through are similar to the grieving process, except depression comes first. I was determined not to dwell on it for too long, so I booked it to Vegas. Yup, good old fashioned denial was what I needed to keep my wits about the situation. When I got back, I was angry, but that got me to stage four in the grieving process- bargaining.
Your employer should offer you a severance package, but they may try to give you the minimum amount required by law or company policy. DO NOT SIGN ANYTHING right away. Once you sign to receive your severance pay, you forfeit your right to sue and to negotiate.
Take some time to look it over. If you feel under compensated, speak up. You can negotiate your severance package, and it’s in your best interest to get as much as possible. It definitely doesn’t hurt to ask. If you feel uncomfortable negotiating your package, find an attorney who specializes in labor/employment law. Have them look over your package to determine what you need. In general, you should get:
* Fair compensation for your years of service – do not let them round down
* COBRA coverage – try to get them to compensate you for the expense for a few months
* Payout for your unused vacation days
Other things you should look into:
* Fully vested 401k
* Refund on stocks not yet purchased in employee stock purchasing plan
* Outplacement or career support service paid for by the firm
Remember, you are worth it, and you need to remind them of that!
This post was submitted by GLO.