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#BestofFSCBlog : 14 Things to Do After you Get Fired. Rule #3- Important: Don’t Sign any Severance Documents. MUst REad for All!

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The words “you’re fired” are terrifying to hear, both for contestants on “The Apprentice” and for everyday, hard-working Americans. If you’ve just been fired from your job, your instinct might be to cry, to shout and to spend a much-deserved vacation on your couch sulking in sadness. But you shouldn’t.

Being fired does not mean the end of the road for your career. It just means you have a new full-time job: managing your finances carefully while earning new employment.

How? By remaining level-headed, persistent and proactive.  Here’s what to do if you have just been fired.

1. In the room when it happens, there are certain things to avoid.

Whether it’s a company layoff or termination for alleged misconduct, you are likely to find yourself in a room with your boss and a member of human resources. When you’re told you’re being let go, it’s important not to do a few things.

2. Don’t shout or storm off.

Managing a professional relationship with your employer may be crucial to finding employment elsewhere.

3. Important: Don’t sign any severance documents.

Not yet at least. U.S. News recommends running any offered severance package by a lawyer; you may be able to negotiate for a better package. In fact, Forbes suggests that you might be able to ask for more than just money: Consider asking for an extension of health and retirement benefits.

During your negotiations, you can also determine how both you and your former employer will describe your separation to third parties. If possible, persuade your former company to agree that your separation was mutual when potential employers reach out.

 

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What Skill Sets Do You have to be ‘Sharpened’ ?

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Article continued …

 

4. Don’t resign.

If you intend to apply for unemployment, it’s in your best interest not to resign, even if your employer is pressuring you to do so. Only under rare circumstances – if it’s clear there was misconduct and you won’t be able to file for unemployment, for instance – would resigning be a wise option for your resume

5. Ask questions.

Getting fired isn’t just a list of don’ts, however. Asking questions is one critical thing you can do in the room when you’ve been terminated. Whatever you want to know, you probably have a right to know — severance details, benefits extensions, reference policies, unemployment information and why, specifically, you are being let go.

If you are emotional at the time of your firing and unable to think clearly or react appropriately, it’s acceptable to request a scheduled meeting later that day or week to discuss the details. However, if possible, it’s better to handle your questions right then and there and part ways.

6. Consider wrongful termination.

It is possible that your firing qualifies as wrongful termination. In fact, an estimated 250,000 workers are wrongfully terminated every year, according to The Balance.

Per The Balance, “an employee can be considered to have been wrongfully terminated if discrimination is involved in the termination, if public policy is violated or if company policy states guidelines for termination and those guidelines were not followed.”

Laws regarding wrongful termination are tricky, especially when employment is “at will” and discrimination is difficult to prove.

Take Dennis K. of Boston, Massachusetts, for instance. Dennis worked for a private company with very conservative values, which made his position as an openly gay man very delicate.

“I always met my goals, and my clients loved me,” Dennis recounted. “No one had any problems except my boss and a couple of the managers. But it wasn’t something provable. It was just a feeling.”

Unfortunately, his anecdotes about his boss being extra hard on him would not be enough to file a wrongful termination suit. Dennis eventually found employment elsewhere, but his story is one of many each year that demonstrate just how difficult wrongful termination suits can be.

7. In the weeks after, relax and regroup.

In the weeks following your termination, it can be tempting to freak out, to get angry or to do absolutely nothing at all. But your unemployment status should be a time when you work harder than ever — after taking a little time to relax and regroup, if necessary.

8. Go to the doctor, like, now.

It’s likely that your health insurance will be discontinued at the end of the month. Get a physical, an eye exam and a dental cleaning while they’re all still covered.

Don’t forget to look into healthcare during your unemployment, like COBRA or options on HealthCare.gov.

 

9. Take a look at your budget.

Realizing that you no longer have a dependable paycheck can be frightening, especially when you don’t know how long you’ll go without pay. Spend time with your budget, cutting expenses where possible – entertainment and travel, for instance – and dip into your emergency fund if you have one.

If things are going to be rough almost immediately (i.e., you live paycheck to paycheck), you’ll need to consider housing with lower costs, downgrading to a car with lower, or no, monthly payments or even getting a roommate.

10. Get a temporary job or side gig.

If finances are challenging during your unemployment, find a temporary job, like retail or food service.

This will also prevent a gap in your employment. In today’s gig economy, you can consider self-employment options like freelance writing or driving for Uber. Remember, though, that some gigs may require an upfront investment or may not pay out immediately.

11. Take care of yourself.

In an interview with Monster.com, Dr. Melodie Schaefer, from The Chicago School of Professional Psychology, identified self-care as a crucial practice during unemployment.

This means staying fit, whether it’s working out or taking a walk in the park, and engaged, like a game night with friends and family. Keep mentally fit by doing crossword puzzles or free brain training apps.

12. File for unemployment.

If you were not terminated because of clear misconduct, then it’s likely that you qualify for unemployment. The Balance recommends checking with your state’s unemployment office to see if you’re eligible.

In general, the unemployment office will side with you over your employer unless there is a clear, demonstrable offense for which you were let go. If you’re not sure, just go for it.

That was the biggest regret for Nichole B. of Dayton, Ohio, when she was terminated last spring for metrics that were beyond her control. Because there were some discrepancies about her performance, she wasn’t confident in applying.

“I didn’t apply for unemployment and I wish I would have. I wouldn’t have gone through nearly as much of my emergency savings as I did,” Nichole said.

Nichole’s story, fortunately, had a happy ending. Shortly after beginning her job search, her previous company unofficially admitted it was wrong for firing her and did the unthinkable. “I was approached by my former company and asked to come back,” Nichole explained. “I ended up returning because they offered me incredible pay, a better schedule and a manager title.”

13. Update your resume and start applying for jobs.

The most important thing you can do when fired is to begin looking for work again. The shorter your gap in employment, the stronger your resume — and finances — will be. The Balance explains that resumes and cover letters need not address your termination; just stay positive: “There is no point in bringing up the circumstances of your leaving until you have to.”

14. In applications and interviews, be honest.

While you can typically avoid mention of your termination in your resume and cover letter, honesty is key in your applications and interviews.

In fact, lying on an application can disqualify you from unemployment benefits and could be grounds for termination at any point, should that company hire you.

Senior talent acquisition specialist at Forrester Research, Abigail Smith, gave some solid advice for anyone who has been fired and is prepping for their first application or interview. “Do your homework on the company. See if you know anyone who works there or a second connection who could maybe introduce you to be referred in,” Smith said.

She added, though, that “honesty is the best policy when it comes to why you were fired.”

Smith and any other skilled recruiters or hiring managers will be sure to get to the bottom of your employment history in an interview. “I will typically ask what made them change companies,” Smith said. “Really what I want to know is if they left on good terms. If performance was the reason they left, how were they measured for success in that role? What limited them from performing well?

“If there is a gap in employment,” she continued, “what were they doing during that time? It could be anything from small side projects to helping a family member. We are all human. Just have a good explanation for the gap!”

In short, be transparent about your termination when asked or, if possible, find a way to bring it up before they ask and pivot with what you have done since. If it was downsizing, say so and move on. If it was performance related, explain what personal and professional steps you have taken since to improve yourself and ensure it won’t happen again.

Getting fired can be emotionally, mentally and physically draining, and, if mismanaged, the termination can wreak havoc on your finances. Be proactive in the face of termination, stay positive and don’t give up. Your next big career move is waiting for you

 

Businessinder.com | August 6, 2018 | Timothy Moore, The Penny Hoarder 

#BestofFSCBlog : #YourCareer -What to Do After You Get Fired. Try to Negotiate your Severance Package. A MUst REad for ALL!

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When Melissa Ben-Ishay was 24 years old, she was fired from her job as an assistant media planner for poor performance. She wasn’t passionate about the job, she says, and it showed. Still, she was disappointed, and thought it was unfair that she had been fired. She called her brother, Brian Bushell, who told her that getting fired was the best thing that could happen to her.

“I think you are the way you respond to the things that happen that are out of your control,” she says. “Those moments define you.”

Ms. Ben-Ishay was known among her family and friends for baking tie-dye cupcakes. “‘Go home and bake your cupcakes,’” she says her brother told her. “‘We’ll start a business out of it.’”

Twelve years later, Ms. Ben-Ishay is the chief executive of “Baked by Melissa,” which has 14 locations in New York and New Jersey and ships cupcakes nationwide. “It’s very difficult to see losing your job as an opportunity when you’re in it,” Ms. Ben-Ishay says. But if you have a positive outlook, you can also bounce back after being fired, she says.

Take a deep breath.

The first thing you should do is take some time to reflect, says Ebony Joyce, a career coach and founder of Next Level Career Services. You can take some time to collect yourself, and don’t need to start applying for new jobs the same day. “You want to allow yourself some grace,” Ms. Joyce says. “Give yourself the opportunity and have a positive mindset regardless of the reason why it happened.”

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What Skill Sets Do You have to be ‘Sharpened’ ?

Article continued …

Negotiate your severance package.

Depending on where you work, you might have an exit interview with a human-resources representative. You should ask whether you will receive severance pay, as well as how you will be compensated for any unused vacation days. Remember that you can negotiate within reason. During this conversation, make sure the employer has your current postal and email addresses in case there are any questions.

Check whether you are eligible for unemployment benefits.

To collect these benefits, you must be unemployed through “no fault of your own,” according to the Labor Department. That means if you were fired for misconduct, which could include causes such as stealing, lying or harassment, you will not be eligible. But if you were fired because you weren’t a good fit for the job or because you lack skills, you might be eligible for benefits, depending on where you live. You can learn more about eligibility in your state at CareerOneStop.

“It’s very difficult to see losing your job as an opportunity when you’re in it.”

— Melissa Ben-Ishay, Baked by Melissa

Take time to grieve.

There are stages of grief when you lose a job, just as there are when you experience other types of losses, and it is normal to mourn the loss of a job or your career as it once was, says Jenny Logullo, a career coach and founder of Workplace Worth Academy. After you have taken time to grieve, you can begin to move forward, assess your skills and make intentional choices about what you would like to do next, she says.

Surround yourself with people who support you.

After Ms. Ben-Ishay was fired, she found support from her older brother, who encouraged her to keep going with her business even when she doubted herself. She recommends finding a support network: “Now more than ever, it’s so incredibly important to surround yourself with people who support you and have that confidence in you when you don’t necessarily have it in yourself.”

Start thinking about how you will talk about this experience.

Typically, when you are fired, there was an action that you either took or did not take, says Ms. Logullo. Your next employer will want to know why you left the position, she says. So you will need to craft an explanation that demonstrates that you recognize what happened, and acknowledge what you did or did not do in your previous role so you can learn from it and correct for it in the future. Instead of saying, for example, “They weren’t happy with my performance,” you can say the position wasn’t a perfect fit, and you are excited to learn and build skills in a certain area in the future. “That kind of outcome-driven story is so much more motivating and promising,” she says. Think about how you will address a potential employment gap as you update your résumé, craft cover letters and prepare for your next interview.

Look at this as an opportunity.

There is good that can come out of the situation, Ms. Ben-Ishay says, and you should try to stay positive and hopeful. “I think you are the way you respond to the things that happen that are out of your control,” she says. “Those moments define you.”

Resources
  • A state-by-state list of unemployment insurance contacts from the Department of Labor.
  • CareerOneStop may provide more information about unemployment benefits in your state.
What to read next

WSJ.com | December 7, 2020 | Allison Pohle

#BestofFSCBlog : #JobSearch – #Severance Pay, What It Is and Why You Should Negotiate a Package Before Accepting a Job. A MUst REad for ALL!!

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he best time to negotiate severance pay is when you and your employer don’t think you will need it: when you have been offered the job. “It’s a little bit like a prenuptial agreement,” says Wayne Outten, the founding partner and chair of Outten and Golden LLP, an employee-side law firm. “It’s not very romantic, but you want one just in case things don’t work out.” 

Employees are less likely to stay with one company for life than they used to be and it is important to plan for the eventual moment when you and your employer part ways.

What is severance pay and how does it work?

Severance pay is a sum of money or other benefits that an employer offers a worker who leaves the company under certain circumstances. You might receive severance pay if you are being laid off, your job is eliminated, or if you and your employer mutually agree to part ways. In most cases, severance pay isn’t required by law, but some companies have established policies for offering it. The typical formula for a severance package is one or two weeks of pay for each year of service. It can be paid in one lump sum or over a period of time. If paid all at once, it is important to understand the accompanying tax liability. While it may be more difficult to qualify for unemployment benefits if your severance is paid over a period of time, this payment structure has advantages, such as lowering your tax burden or allowing stock options to vest. In addition to pay, you can also negotiate other benefits, such as health insurance or employee placement services. In all instances, severance packages are negotiable.

Quick notes:

1- Employers aren’t legally required to pay severance in most cases.

2- Be aware of your company’s severance package and try to negotiate it before accepting a job offer.

3- The success of your negotiation depends on how much leverage you have.

Keep in mind that employers may ask you to sign a noncompete or nondisclosure agreement. Some may ask you to sign a waiver not to pursue legal action against them, in order to receive severance pay. “Some industries will have a noncompete that can be oppressive,” says Roy Cohen, author of “The Wall Street Professional’s Survival Guide: Success Secrets of a Career Coach.” “It can keep you out of the market for an extended period of time if you want to get your severance.”

 

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What Skill Sets Do You have to be ‘Sharpened’ ?

Article continued …

Who gets severance pay?

Severance pay is typically reserved for salaried employees who are laid off or whose jobs are eliminated. There are some situations in which you can argue for severance pay even if your employer hasn’t asked you to leave the company. For example, depending on your employer’s policies, if your position is eliminated and you are not immediately reassigned to a new one, this can trigger a “severance eligible event” that qualifies you for severance pay, even if your employer would prefer to retain you. Employees who have been at a company for many years or those who hold senior positions in the organization typically have more leverage to negotiate a severance package than those who have recently joined the company.

“The time to negotiate a severance, especially in this climate, is when they love you, when they’re in the honeymoon period and they’ll never think they’d have to use it.”

— Tessa White, The Job Doctor

Be aware of an employer’s severance package before accepting a job offer.

While many employers provide severance packages, they are not legally required to do so. Because of this, it is important you determine what, if any, an employer’s severance package is before accepting a job offer. Ask the HR contact you have been working with directly or ask to see the employee handbook, where most of the information on severance packages is typically laid out. Often the employee handbook is included with the job offer.

Negotiate your severance package as part of your job offer.

Severance is one important variable that you can and should negotiate as part of your job offer. Tessa White, a career-navigation expert and founder of The Job Doctor, says she negotiated a six-month severance package for herself upfront in a previous role. Although she and her employer didn’t think they would ever use itwhen she accepted the job offer, the agreement ended up coming in handy when she negotiated her departure amid a headquarters relocation. “The time to negotiate a severance, especially in this climate, is when they love you, when they’re in the honeymoon period and they’ll never think they’d have to use it,” says Ms. White.

Be creative when negotiating your severance package. If the job requires you to relocate, for example, you can ask the employer to pay to move you back home if things don’t work out. Depending on how far you have to move, this could be a huge benefit and make you feel a lot more secure about moving across the country or internationally for a new job.

Severance negotiation is all about leverage.

How successful you are in negotiating a severance package upfront depends on how much leverage you have. If you are planning to leave a secure job that you like, then it is in your best interest to negotiate a proper severance package for the new job. You are taking a substantial risk by going from a situation that you know well to one that you don’t. In this case, you have more leverage than you might think. “If you’re thinking of moving from one company to another, you want to get an idea of the risk associated with the new position,” says Mr. Outten. “Get some protection.” If the employer approached you with a job, you have even more leverage to negotiate a proper severance package. “No matter how much research or due diligence you do about the new job, it may not work out,” says Mr. Outten.

Resources

 

WSJ.com – December, 2020 – Deborah Acosta

#CareerAdvice : How to Negotiate a Better Severance Package If You Are Being Laid Off. A Severance Package can be Negotiated. Understand your Options and Focus On What Matters Most to You. A MUst REad for All!

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Once your employer has given you a termination notice, the chances are your tenure is over. Although there are a few exceptions, it would be difficult to save your job. “I’ve represented probably 10,000 people who have lost their jobs,” says Wayne Outten, the founding partner and chair of Outten and Golden LLP, an employee-side law firm. “The number of people where the company reversed their decision and unfired them is extremely rare.” 

Although you might be overwhelmed, the most important thing to do right now is to focus on negotiating the best terms you can and to be aware of all the options available as part of a severance package. Don’t waste time passively waiting for things to happen to you. This is an opportunity to negotiate something that is fair and equitable for both you and your employer.

“Negotiating a severance package is a difficult moment in everyone’s life, but it can be an opportunity to carve out an agreement that everyone benefits from, and it can be the next step in somebody’s career,” says career coach Paolo Gallo. “It’s not necessarily a funeral.”

Determine what is most important to you and ask for it.

Think about your goals and the employer’s needs, and where the two align. “An organization has the duty to listen to what is important to people, and people have the duty to find out what’s important to the organization, and then find a compromise,” says Mr. Gallo.

If you have considered starting your own consulting business, for example, you could negotiate an arrangement that allows you to stay on as a consultant while pursuing other opportunities. “As an HR director I signed dozens of these kinds of agreements,” says Mr. Gallo. This can help a company to decrease its staff and benefits costs, while retaining your services and institutional knowledge. At the same time, your association with the company can help you attract new clients while you set up shop.

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What Skill Sets Do You have to be ‘Sharpened’ ?

Article continued …

If you need time to find a job and don’t want to be unemployed while looking, you can request that your severance be paid out in installments over a period of time and that your name stays on your employer’s website until you find your next job. The vesting period on your 401(k) is the amount of time you must work for your company before you gain access to its payments to your plan. Your payments, on the other hand, vest immediately. If your plan hasn’t fully vested, you can ask your employer to pay you the difference between the full and vested balances, or you can request to delay your termination date until it vests. You can also ask your employer to cover your health-insurance costs until you find a new job.

“Don’t think about how much money you can squeeze out of the organization,” says Mr. Gallo. “Think about what else might be important to you.”

What you can negotiate in a severance package:

  • More money. You can ask for more money, although you should keep in mind the amount is often tied to how long you have been working for your employer.
  • How the severance is paid. You could request that it be paid out in installments so that you continue to get paid regularly while you look for your next job. Or if you are worried about the company’s future performance, you can request one lump sum.
  • Remaining tied to the organization. You may ask to stay on as a paid contractor while pursuing other opportunities in lieu of taking the severance.
  • Retirement plan contributions. You could request that the employer pays you the unvested amount of your retirement plan, or if you are close to fully vesting, you can ask to move your termination date until that happens.
  • Stock options. Unlike 401(k) plans and defined-benefit pension contributions, which are regulated by the Employee Retirement Income Security Act and the Internal Revenue Service, you can request to accelerate the vesting period of your stock options or to have them continue to vest after you leave.
  • Health insurance. If you are concerned about health-care costs, you could ask your employer to cover your health insurance until you find your next opportunity.
  • References. You could include a clause in your package that stipulates how your employer will describe your period of employment if asked for references about you.
  • Outplacement services. You can request access to services, such as career coaching, training or help with your resume and cover letter until you find your next role.
Check your contract or employee handbook—and the law.

While companies are usually not legally required to provide severance pay, some employers do, and they have policies for how it works. Read through your contract or employee handbook to make sure your employer is following its policy. If there is a discrepancy, point it out during your negotiation.

Keep in mind that employers usually pay severance benefits only after the employee signs a release not to bring claims against the company, so it may make sense to consult with an employment attorney if you have any concerns.

Negotiate with the person who has the power and inclination to help you.

In negotiating your severance package, it is important to take stock of how long you have been with your employer, what your position is within the organization and what your contributions have been. Severance pay is usually reserved for salaried employees, and those who have served the longest reap the greatest reward.

However, don’t underestimate the three P’s in this equation: power, personality and politics. In particular, you should aim to negotiate with someone who has the authority and the willingness to help you. “Talk to the right people,” says Don Wylie, a managing partner at the recruiting firm Lucas Group. “Sit down with those people that have been your mentors, your allies.” Describe why the package is inadequate, and point to everything you contributed to the company during your tenure. If you can quantify your contributions—such as saving the company a lot of money due to an innovation you contributed to, or the additional sales you brought in as a result of you winning an important client—even better. When companies lay off a large group of employees, they sometimes swipe with a broad brush and forget about the individual contributions that you have made.

Don’t hesitate to explain your personal situation if necessary. “As a general rule, nobody wants to see another human being suffer,” says Mr. Wylie. “Look at your personal financial situation and how that’s going to strain. If you don’t ask and you don’t explain, obviously you’re not going to get anything.”

Resources
  • Excerpt on Severance Negotiation.This excerpt from Wayne Outten’s book covers many of the legal and strategic aspects of severance negotiation.
  • The Compass and the Radar. In this book, Paolo Gallo offers practical tools as well as insights on the trade-offs and difficult choices everyone needs to make at some point in their careers.
What to read next

WSJ.com | December 16, 2020 | Deborah Acosta