Business & Investing

Despite the present economic scenario, many employees, including six-figure managers and executives, have expressed that they feel powerless in negotiating with their employers. This is true whether the topic of negotiation is a raise, a promotion.

Here are five tips for cutting the best severance deal for you, despite the recession: 1. you can always negotiate a better deal. Even if your company has a policy that says every employee at a certain level, with certain tenure, receives X weeks or X months of salary as severance, decisions ultimately are made on an individual basis. All severance packages are not created equal. This is the most important thing for employees at all levels to understand.

2. Know your leverage. Remember that Leverage is the currency you have to trade with your employer in severance negotiations, so valuing it properly in advance is critical.(1) the employer wants to protect against you criticizing the company after you’re gone;(2) the employer may need you for something later, such as testifying in a lawsuit or providing information to a replacement; or (3) the employer wants to protect against being sued, particularly if you’re an older worker, a woman, or in a racial minority.

3. Severance is the toughest kind of negotiation – because it’s not just business, it’s personal. The key is to bring up the leverage you have without sounding threatening. For example, if you say, “I think this could be age discrimination,” the negotiations will immediately be over. But if you say, “Are you getting rid of me because you think I’m over the hill?” it raises the same issue, but in a way that isn’t an accusation. It can even induce sympathy from your boss.

4. Be creative and look at whether you’d be better off converting some of your non-cash severance benefits to cash, or vice versa. If you are interested in going back to school, you might ask the employer to convert part of your cash payment to a tuition benefit, which will reduce the amount of taxes you have to pay on your severance check. Many employers offer outplacement services. If you are planning to start your own business or already have a new job lined up, you might ask your employer to convert this benefit to cash. Use creativity to customize the deal to your needs.

5. 401(k) vesting is negotiable. At most companies, you have to work there for a certain period of time before your employer’s 401(k) matching contribution vests – meaning you can take it with you. Employees have successfully argued in lawsuits that they were fired so their employer wouldn’t have to vest them. You can use this fact as leverage in your severance discussions. I have a friend who was three months away from his 401(k) vesting when he was laid off. In his severance negotiations, he asked if he could be kept officially on the payroll until his vesting date. The employer agreed – resulting in an additional $20,000 in his 401(k) account that would have gone away if he hadn’t asked.

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A suggestion I would like to share with everyone – from recent college graduates to executives who are earning over $100k -is use social media and start a proactive job search. Over the past year the recruiting industry has changed dynamically; use social media and start a proactive job search. Posting ads on the traditional job boards or hiring headhunters is replaced by searching through candidate’s profile on linkedin and doing online their own diligence. If you haven’t done this than create an linkedin facebook and twitter accounts by taking some time out. In today’s competitive era the basic rule is to grow up or you will be left behind.

One way of extending your personal brand is to join and participate in discussions on facebook and linkedin. LinkedIn has Q&A sections and both sites have specialized groups. Participate in discussions leave your signature with your email address at the bottom of your message with the other media information so that people who enjoyed your posts and the web scouring headhunters can add and make connections with you. The only way is the sincerity and consistency. The great way to start is the jobconcierge facebook if you have not started. People quit in frustration people who get success are the ones who give proper time to this on weekly or monthly basis.

Merging social networking with the job applications is the second step of differentiating the application of your job. The very time consuming and tiring which can call job itself. Start from the best job board. This is a must if you want to maximize your chances for getting your next job and want to be thorough. When you start finding jobs accordingly by online job search than you must classify the job results in the following categories: (1)ideal job or (2) willing to work there. The chance of getting more interviews totally depends on the numbers of the jobs you applied for as it is a game. I know people who applied to 100 jobs in a week have only been getting interviews regularly. In this you get an assigned HR recruiter who search jobs and apply it for you what the Jobconcierge helps. The executive search services really works.

The search can be more refined by using the search box which is their in linkedin in right upper hand side. The members within 1st and 2nd degree connections are contacted by the clients , I suggested. You can make a basic ground by joining the same interest groups in which the person is to whom you want to contact and in which there is no basic ground. By messaging people and talking them on phone is the best way to know more about the company what we suggested. The surprising thing is the results that how many people are willing to help. Whether they have any information on the posting can be judged through the conversation if you know anyone in a particular division can bring you a HR contact or you can send your resume directly to HR attached with a suggestion.

Take things one step further and thing strategically now. Two Job concierge members have thanked me for receiving job offers each in past seven days. How did they do it? It’s not by chance. Relevant jobs were founded by their jobconcierge online each week for them. On linkedin for ideal level jobs they reached out and connected with people. Their applications were filled out and submitted by their Jobconcierge for the other level jobs. Job search is itself a job of full-time. Using your time more efficiently and result maximization. Online spending 50 hours in a month and getting is nowhere what is done by an average job-seeker. Taking things one step further can be done by classifying jobs you find online, starting a proactive job search and reaching out to various connections on LinkedIn. What you get will really surprise you .

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Resume is not designed to get you a job. A resume can’t make you qualified for positions outside your area of expertise. When we compare between entry level or mid level resume executive resume’s tend to be longer (two or even three pages is the norm) or even a bit more detailed, and emphasize strategic contribution. The resume along with other documents should present a sharp, focused, cohesive picture of whom you are and why you are valuable.

1. Start your resume with a summary rather than an objective, it should highlight your strongest selling point or say your USP. It would enable a reader to consider you as asset. The main point to note here is that through this you should be able to convey the type of profile you are searching for and your major career contribution.

2(c) Work History should be shown chronologically. While presenting your work profile in your resume it is always good to display it properly in a reverse chronological way or it may confuse the reader. This format way finds an easy acceptance by most of the employers when they try to go through the resumes. Moreover, even when trying to show any less-than-stellar experience of yours in your work profile, make it a point to include the job title, employer details and dates of employment. In case, you are not following these standards, the chances of your resume not making an impression and going through elimination become quite probable.

3 Resume should be in proper order starting with your scope of responsibility then your achievement and your contribution. Contributions that improved the productivity, profitability, revenue, customer satisfaction or other things that contributed to other business activity. An Executive should be more focused on the strategic contribution rather than the administrative task that he has done. Always keep in mind that the resume readers are very smart they can make the assumption on the job title and general description. They don’t need everything to be spelled out for them.

4(a) Your accomplishments will have even more impact if you present them in context or in relation to a specific challenge. Instead of writing that you have increased the revenue by 23 percent you should write that you reversed a five year declining revenue trend by focusing business development efforts in niche market. You achieved the profitability for the first time since 2002. You should make the reader to skim through the resume to pick the important information. Use of enhancement, bullets and indications make your information easy to absorb. It’s important to keep in mind that you don’t make any spelling, punctuation or grammatical error.

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