How can I negotiate my severance package best?
May 20, 2023 | 40,00 EUR | answered by Fanni Siebert
Dear tax consultant,
I am Lorenzo Köhler and have been working in a medium-sized company for 10 years. Due to restructuring, I am now facing a severance payment. This severance payment is intended to terminate my employment relationship and the conditions of the payment have not yet been determined.
I am concerned that the severance payment may not be fair or that I may not be able to maximize it. Therefore, I would like to know how to best negotiate my severance in order to receive an appropriate amount.
My goal is to achieve an optimal severance through negotiation skills and a solid understanding of my rights and entitlements. Therefore, I am turning to you with the question of which strategies and tactics I should best apply to strengthen my negotiation position and enforce my right to a fair severance.
Thank you in advance for your support and expertise.
Best regards,
Lorenzo Köhler
Dear Mr. Köhler,
Thank you for your inquiry regarding the negotiation of your severance payment. It is understandable that you are concerned about whether the severance will be fair and if you can maximize the amount. It is important that you go into the negotiation well-prepared to strengthen your position and achieve an appropriate sum.
Firstly, it is important that you inform yourself about your rights and claims related to the severance. This includes the Employment Protection Act, which contains regulations regarding severance in cases of redundancy. Additionally, you should research typical severance amounts in similar cases to have an idea of what would be appropriate.
To strengthen your negotiation position, it is advisable to prepare well for the conversation. Gather all relevant information about your past work in the company, your achievements and successes, as well as any special circumstances that could justify a higher severance. Prepare a list of arguments in favor of a higher severance and be ready to bring them up during the conversation.
Furthermore, it is important to remain calm and composed during the negotiation. Show understanding for your employer's position, but remain firm in your demand for a fair severance. Aim to create a win-win situation where both sides are satisfied.
If you are unsure of how to negotiate effectively, it may be helpful to seek advice from an experienced tax consultant or lawyer. An expert can support you and help you represent your interests effectively.
Overall, it is important that you approach the negotiation confidently and clearly communicate your demands. With good preparation and a smart negotiation strategy, you have a good chance of achieving an optimal severance for you.
I hope these tips are helpful to you and wish you success in negotiating your severance payment.
Best regards,
Fanni Siebert
