At work, there are only two really important meetings: your job interview and the negotiation of your departure.

Earl Nighingale said “The biggest mistake that you can make is to believe that you are working for somebody else. Job security is gone. Remember: jobs are owned by the company, you own your career.”

As of a certain level in your career, it is normal to negotiate a departure rather than finding a new job first and then resigning from the old one. No future boss will be surprised when you say that you have negotiated a severance package because you had different views on the future strategy, because you had been appointed a new boss or for any other plausible reason.

At this point of time, all that both parties want, is to get out of this as quickly and smoothly as possible. After all, you have been working together in trust for years and have achieved solid results together, right? No employer wants to be sued and no employee wants to get a bad reference.

Apart from the salary negotiation before signing the work contract, this is probably the toughest negotiation you ever have with an employer. Manage it well.

Which are the elements you can negotiate?

  • Indemnity: This is the most obvious one. It has not been your decision to leave and thus, your company will pay you an indemnity in many countries. How much? This highly depends on where you work and in Paris, France, you would probably leave with more money than in Denver, Colorado. Rule of thumb: whatever they offer, ask for 50% more
  • Stay on the pay roll: Sadly and wrongly, you will often be considered a candidate second class by future employers or executive recruiters if you are not in the job anymore. It can be advantageous to remain on the payroll even though you do not go to work any more. Tip: If they tell you „we would like you to leave on 31 March“, answer „Let’s say 30 June, I will stay at home and won’t bother you any more“
  • Stay at home: Once you know that you will be leaving, the company strategy will be made without you. Your thoughts and your words will not count any more. Why not leave right away then? Try to negotiate an early leave. Searching a new job is a new job in itself and you can spend the time earned wisely
  • Executive Education: There is no better unemployment insurance than solid education. If you have done the last meaningful education more than 7 years ago, you risk not being competitive any more. Do you fall short of strategy or leadership? Take transformation or digitalization and you cannot go wrong neither. Most of the top tier business schools offer senior management programs. Your employer can deduct these programs from their taxes so let them help you polish up your profile and find a better job tomorrow than the one you had here. Again: Nobody else cares as much for your career than you
  • Housing, insurance, company car…: Which extras did you get during your time as an employee? Try to get these for as long as possible, even small things like a gym membership can help you to go through the phase of the job search. Squeeze out a maximum, analyze your current situation well and if in doubt, ask for it!
  • Outplacement: Yes, an outplacement firm can help you to get ready for the job search, define a strategy that makes sense and then guide you through the interview process. Tomorrow, you have to sell yourself, it is a fierce market out there and you have many competitors. A good preparation and insights are key to leave these competitors behind you and professional coaches can help you with this. Here in Paris we offer outplacement too and we will not talk about theory someone wrote somewhere we don’t know when. We talk and share how the job market ticks at the beginning of 2025. Contact me HERE via our contact form or on LINKEDIN should you wish to talk to us
  • Other: There is this one thing you and I don’t know about. Once you have finished your negotiation, ask what else you can get. What flexibility does your (ex) employer have? There is one more easter egg. Find it!


Conclusion:

Negotiating your departure is not like playing in the lottery. You can influence what you get. Never accept the first offer and use the „salami technique“ for the above: negotiate the indemnity first and step forward only once this is done. Your former boss will think „OK, I have a total budget of XYZ. The indemnity s/he is asking is exactly that amout, I can accept it“. If you say from the beginning „I want an indemnity, executive education and outplacement and furthermore, I want to keep my company car for another 6 months“ the very same amount might be divided to cover all parts you ask for – and finally you will leave with less. If you need further advice, contact us