You have been terminated. Now what? Assuming that you were not fired for breaking the rules or misconduct, you should be able to negotiate your termination with your employer. This is usually an exhausting process, one which requires a lot of patience and determination.
One thing you should never do is sign anything, at least not until you speak with wrongful termination lawyers in Los Angeles, as there is a chance that you have been wrongfully terminated.
After getting over it, you should sit down and think about what is best for your future.
Here are 7 things that you should negotiate for when terminated from a job.
Your Salary Payout
Depending on your circumstances and the circumstances surrounding your termination, you may be eligible to receive severance pay or termination pay. You need to know and understand that there are different ways of getting paid after a termination.
Another thing to consider is your tax situation (assuming that you chose a lump sum option); be sure to increase your tax bracket for that year if you are able to get another job quickly. Also, be aware of the “clawback”; if it is in your agreement, before signing it, ask for it to be removed. No one wants to return a part of the severance pay after a while.
Commissions and Bonuses
If you were eligible to receive bonuses or commissions for the year of the termination, be sure to include them in your counteroffer. If your employer refuses to pay them or does not like your offer, do not accept any payment that does not involve your rightfully earned bonuses.
In case you worked on-call or overtime regularly, and were supposed to do more overtime work but were terminated, you may request financial compensation for that expectation. Consult with a legal professional before you propose a counteroffer to your employer.
Be sure to include all the benefits you currently have. This involves:
- Your medical and health benefits
- Life insurance
- Disability insurance
- Stock options
- Club memberships
If you believe that you have been wrongfully terminated, you may acquire additional benefits, if you can prove that your termination is indeed for the wrong reasons. Contact our Los Angeles wrongful termination attorneys and ask for their legal help and representation today.
Unused Vacation Pay
Under a legal requirement, your employer has to cover for your unused vacation time for the fiscal year of termination. Be sure to bring that up as it may be a substantial sum.
Employee Discounts and a Positive Reference
It will not hurt you to ask to receive an extended privilege on purchasing the company’s products at a discounted price, at least for a specified time. If you can save some money, why not do it while you can?
In addition, you may want to receive a positive reference from your employer, as it may help you greatly when applying for the next job.
Payments Upon Death
You may never know for sure, but if your severance payments are over a long period of time, you may want to establish a continuance of payments in case of your death. Your surviving family members would be eligible to receive these payments, in case something bad happens to you.