Posted on 10/19/2012 2:14:49 PM PDT by Volunteer
It would be great if you ended up making more money!
What line of work are you in?
Definitely have a lawyer look it over.
When I was let go from my job of 12 years, I only got one week per year of service. The severance package is pretty generous.
The things I would look for in the agreement are...
1. Non-compete: This is a deal breaker. It could stop you from working in your field for some period of months or years. If there is a non-compete clause, do not sign.
2. Any admission of dismissal for cause: This could stop you from receiving unemployment benefits. This would be unlikely, since they are offering a severance package, but look for this in any case.
Get a lawyer before you sign anything and good luck. Use the severance period to aggressively look for a new job and if you’re lucky, you’ll have several months of double pay.
Whatever you do, make sure you work every contact you have while looking for a new job. When I was laid off in 2009, it took personal contacts in my new company to get me the interview. Online job searches are OK, but from my experience, it’s only the person to person contact that will close the deal.
Great advice. I truly appreciate it.
I think it is a reply based on your life experience and worldview and I would argue the basis on which you form your opinion - that is for you to determine and you don't need to justify it to anyone other than yoourself. For me, however, I wouldn't have offered the same advice.
First, why suggest fighting a termination? If the employer does not want you there, what is to be gained by having a state agency or court shove you down their throat? Talk about setting yourself up for a whole lot of misery! Can you imagine the resentment that would hang in the air everyday? If an employer determines they no longer are in need of your services, that is their right, as an employer. They can decide one day that they just don't like your cologne and say "you're outta here!" - they are within their rights. Employment is a mutually beneficial relationship. The employer needs labor to perform a task, and the employee needs a paycheck. In return for performing that task every day, you are compensated - beyond that, nothing is "owed" to you. Sure, an employer that rewards loyalty and great performance is always viewed favorably, but it sure isn't a requirement. In an 'At Will' state, no reasons for termination need to be recorded or documented - because they don't matter. At will employment is the cornerstone of a free-market: ie I am free to choose who I want to employ and for how long.
As a business owner, perhaps I have a different perspective than some other people, but I print a lot of paychecks every month and my perspective is what has allowed all of my employees to earn a living. I've had to lay people off, I've terminated countless employees over the years, and I have asked some to leave in lieu of termination (offering a severance package) - I've seen everything pertaining to an employment relationship, some good, some bad. At the end of the day, a job is not a 'right', it is something that is provided by another individual who has a need for labor. It creates no obligations on behalf of the employer other than a paycheck.
I was a systems engineer - glorified computer repair dude. I worked exclusively on Point of Sale systems for various retail stores - Registers, robots, servers, networks, etc. We lost Chevron at the beginning of this year, so the contract with my company got cut by almost half. They were barely breaking even on me, so they figured they could make more if they just let me go and let the other engineers share the work I was doing. Good business decision, bad for me.
Well, I am pretty sure businesses are going to be hiring like crazy once Emperor Zero loses HIS job. I am not too awfully worried yet.
By the way, I am of the opinion that you should take the severance package if it is what you say it is. 5 months' salary is awesome. Take it and run. Get another job asap, and you will be fine, especially given that you have a doctorate of some kind. You should be able to get some kind of cushy gov't job, at least (ugh).
Good luck to you, as well!
“Fired for cause is what the Op Indicated that his employer was considering if he did not resign. That usually precludes unemployment...”
Your wrong about that. It’s when you quit that you don’t get unemployment.
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