Exit Packages
Sometimes things just don’t work out. On-going conflict in the workplace is not good for employees or employers.
When a relationship breaks down between you and the boss, or others in the workplace, continuing to work for that employer can be very difficult.
Often in these situations both sides know that things need to end but aren’t sure how to go about it. The best way can be for us to help negotiate an exit package for you.
An exit package, also known as a settlement agreement or severance package, is an agreement that you will resign in return for payment or benefits. The agreed terms will be recorded in a “Record of Settlement” document which both parties sign.
Your exit package is confidential and may include money, a reference, agreed wording of your leaving announcement or anything else you need to effectively transition out of your job and retain your professional reputation.
The amount paid in an exit package will vary greatly from case to case. There are many factors that determine what may be a reasonable amount for an exit package.
These can include but are not limited to:
- Your notice period length
- Your salary
- Any other benefits you may get
- How quickly or likely you are to find your next job.
Often it comes down to how motivated each party is to end the relationship.
It is important that you do not attempt to negotiate your own exit package without seeking legal advice first. If this is done in the wrong way then your employer can use it against you or say that you wanted to resign.
Involving an employment advocate will increase your chances of success and will typically increase the amount that your employer will offer.
If you think your employer may be willing to negotiate an exit plan with you, or if you are considering resigning due to a broken employment relationship, please contact us, one of our employment advocates may be able to negotiate an exit package for you.
