Prior to the consultation process the employee should be afforded a reasonable time within which to consider the retrenchment notice and formulate representations and proposals. For example, if you offer to come back to do per diem, freelance or outside consulting work, where it will save the company money in the transitional period, this could help your case for a better severance package. If you are being offered voluntary retrenchment, listen to this first. How to negotiate a severance package? Protecting Your Rights During Retrenchment. Have you been laid off due to the covid crisis? Here’all you need to know about severance packages. They can do this by themselves, through their trade union or with a labour lawyer. The post Listen: How to negotiate your retrenchment package appeared first on Maya […] Retrenchment packages must be put in writing and discussed in private with each affected employee. Severance packages can be negotiated. Another negotiating tactic is to make it appealing for your employer to give you the best severance package available at the company. Read Next: 9 Must-Do Tips to Find a Job ASAP Share; Tags Fired Layoff Layoffs Salary Negotiation Severance severance package. actual retrenchment, if any, will take place. They can do this by themselves, through their trade union or with a labour lawyer. My Money, My Lifestyle, 10 Dec How to negotiate your retrenchment package - In this podcast, Maya Fisher-French speaks to labour lawyer Michael Bagraims about your rights when it comes to voluntary retrenchment, including the benefits you receive and what rights you give up. This doesn’t guarantee that they’ll be successful, but employees are entitled to negotiate for a fair package, which minimises financial hardship. Tune in to get all your queries answered by Pooja Ramchandani, Partner, Shardul Amarchand Mangaldas. ... about intended retrenchments.Merely to negotiate about the packages and conditions of dismissals is not sufficient anymore.The Act is Employees are legally entitled to negotiate a better package. Be Part Of A Trade Union. Laid off during covid crisis? When you get the offer, ask questions like "What kind of flexibility do we have here?" To negotiate a severance package, start by calculating how much paid vacation, sick time, or holiday pay you have unused to give you an idea what you might be offered. The employee is in an especially favourable position to negotiate if it is a voluntary retrenchment process, in other words the employee is first given the choice to accept a severance package and therefore to be retrenched voluntarily. By joining a union, the union is able to negotiate for your rights, as well as offer training and re-employment services when you lose your job. o negotiate the severance pay for retrenched employees. Below are some examples of the benefits you may receive in a trade union. What compensation are employees entitled to? However, in working out severance packages, Section 41 and Section 35 of the Basic Conditions of Employment Act must be read in conjunction with one another. Section 35 lays down the exact criteria for calculating the legally correct package. Take advantage of the tax benefits and invest your lump sum in a preservation fund for your retirement, writes Maya Fisher-French. In this podcast, Maya (@mayaonmoney) speaks to labour lawyer Michael Bagraims about your rights when it comes to voluntary retrenchment – the benefits you receive, and what rights you give up. Staggered severance or lump sum? This usually happens before a forced retrenchment … How to negotiate your retrenchment package | Citypress. Severance packages can be negotiated. to start the negotiation process. Home > How to Negotiate Your Way to a Golden Parachute. Employees are legally entitled to negotiate a better package. An employee will likely be at a disadvantage if s/he is negotiating a package for the first time,” Rassas says. This doesn’t guarantee that they’ll be successful, but employees are entitled to negotiate for a fair package, which minimises financial hardship. 1.

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