You've been let go by a drone company. How can you negotiate a favorable severance package?

1 Know Rights

Understanding your legal rights is the first step in negotiating a severance package. Research labor laws in your region to ensure that your employer is meeting the minimum requirements. If you have an employment contract or union agreement , review it for any stipulated severance terms. This knowledge serves as a baseline for negotiations and can empower you to make informed demands. Remember, severance isn't just about money; it can also include extended benefits, outplacement services, and other support mechanisms.

3 Prepare Case

Preparation is key to a successful negotiation. Document your achievements, particularly any that have positively impacted the company's bottom line or advanced its drone technology. Create a clear and concise argument for why you deserve a favorable severance package, including any unique skills or knowledge you brought to the team. This preparation will not only bolster your confidence but also show your employer that you are serious and have put thought into your request.

4 Negotiate Terms

When negotiating your severance package, focus on both financial and non-financial terms. While salary continuation is important, consider asking for extended health benefits, especially if you've been working on drone-related projects that could affect your health over time. Also, negotiate for outplacement services or career coaching to help you transition into a new role in the drone industry or elsewhere. Approach the negotiation as a collaborative effort to find a mutually beneficial solution.

5 Leverage Network

Utilize your professional network during this time. Reach out to colleagues within the drone industry for support, advice, and potential job leads. Your network can be an invaluable resource, providing insights into market trends and connecting you with new opportunities. They may also offer perspectives on severance packages from their own experiences, which can guide you in setting realistic expectations for your negotiation.

6 Stay Professional

Throughout the negotiation process, maintain professionalism. Keep emotions in check and approach each discussion with a clear, level-headed manner. Even if the separation from the drone company is under less-than-ideal circumstances, preserving a positive relationship can benefit you in the long run. A professional demeanor can lead to better negotiation outcomes and help maintain valuable industry connections.