#downsizing #buyouts #JobLoss #SeparationIncentives
Your company has decided to downsize.
Perhaps it wants to eliminate a division(s) that it doesn’t see as part of the future.
It “generously” decides to offer some qualified employees a separation package, or buyout, to encourage them to leave.
Let’s say you are among those employees.
You want to keep working a few more years, but they have given you what you consider a generous offer. What should you do?
Most buyouts have certain things in common. First, what they are offering initially is probably the best you are going to get. There’s usually no negotiation for a sweeter package. More or less, it’s take it or leave it.
Secondly, you have to make this decision without all the information. You don’t really know, and no one will ever tell you, what YOUR future is if you stay.
There is usually a company option to reject certain employees’ applications for the buyout, but that rarely happens to an individual. If you thought you were indispensable, think again. If the company does not want a certain group of employees to take the buyout, it will not qualify them.
Thirdly, the decision rests on YOUR individual position in life. If you are financially able to take it, you may well be advised to do so. If you want to do something else, worry about that later.
If your job is eating you alive, or your boss is not treating you the way you believe you deserve to be treated, you may be advised to take it. Your life is not going to get any better, and could very well get worse, if you stay.
If you are not financially able to take it, you will probably have to suck it up and stay, and deal with what happens next.
Now, what if you could prepare for such an event ahead of time? What if you could spend a few part-time, off-work hours doing something that could potentially build your current and future wealth?
Though we are not talking about a second traditional job here, the concept involves a more pleasant form of work.
It turns out that there are many such vehicles out there for those who are willing to look for them. If you are open-minded enough to want to check out one of the best, message me.
Buyouts, downsizings etc. almost always come without warning. You walk into work one day, and an announcement is made.
If you could prepare ahead for it, you could walk away with a sweet deal and a smile.
If you don’t prepare for it, the decision can be much more difficult.
We used the term “generously” when we talked about such offers. Many workers simply get thrown out the door with nothing.
You can prepare for that, too. If you do, you could accept that situation with a smile, too.