Asking for severance in exchange to quit

[harkdh]

Hi, I am ready to retire from a medium size publicly held company that I have been with for over 8 years, I am salaried and live in a Right-to-Work state. But wonder if instead of just quitting, can I approach HR and ask if they could offer a severance package in exchange for my exit. I sometimes wonder if I am being "Managed Out", a new term I learned that involves making one's life miserable so they will voluntarily quit... but that is just a guess. Regardless, I'm ready to retire anyway. I'm perfectly aware that they have no obligation but as far as I know they may very well practice this type of arrangement and it can't hurt to ask. But I suppose once you start down that road there's no turning back regardless of their response. Just curious so as to not leave money on the table. Anyone have good advice from experience on the subject and proper steps to to that end? Thanks.

 

[RetiredAndLovingIt]

Here's recent thread on the issue.

Anyone negotiate a "severance" in non-RIF times?

I introduced myself years back, but I didn't know which sub-forum to post this question. If the admin needs to move it, I thank you in advance. I turned 63 in January. First child is now out of college with a good job (just got promoted yesterday, as a matter of fact) and he's still living at...

www.early-retirement.org

 

[Koolau]

I guess you first have to ask yourself what's your main goal. Is it to get out or to not leave anything on the table. That may affect your strategy. You also may want to decide if it's worth "tipping your hand" that you are ready to leave - if you really aren't ready to leave.

In my Megacorp, there were no negotiations regarding Early Retirement. You stayed or your left and the numbers were rigidly calculated from there. There was NO one to ask for a package. If Megacorp offered one (which they occasionally did) you could take it or not, but you couldn't change the package or the timing nor could you create your own. Good luck as YMMV.

 

[bloom2708]

Can't hurt to try. But, be prepared to be escorted to the door that same day.

If that is fine, then let us know how it goes.

 

[Jerry1]

Our company would have staff reductions from time to time. I was ready to retire when one came up and I volunteered to leave. I’m sure it happens but I don’t recall someone getting a package during normal times, only during reductions or when people were let go (fired). My company had a formula and if you got fired or let go during a staff reduction, you got a package. Any other time/situation, you did not.

If I was looking to get a package, I’d approach my next in line manager and discuss it. Certainly that a call only you can make based on you relationship with that person but if you go to HR, it not like your manager isn’t going to hear about it. Best to work directly with him/her. There may be some desire to cut staff if they’re managing people out.

 

[RetiredAndLovingIt]

If you legitimately feel you're being singled out and treated unfairly then that may be something to bring up especially if you can prove it's happening with actual examples. Have you taken any sick time due to the pressure that you feel they're putting you under? Doubtful you'll get a package just because you want to leave but if you feel that they're trying to push you out the door that may be an issue you want to bring to managements attention and let them deny it's happening and see where the conversation goes from there.

 

[harkdh]

If you legitimately feel you're being singled out and treated unfairly then that may be something to bring up especially if you can prove it's happening with actual examples.

Life is too short to deal with anyone that would apply these underhanded tactics, it would be me against Megacorp, not up for that nonsense... if were even the case.

So many good responses and so quick! The other posted thread was a good read and held no big surprises for me... I acknowledge have not a hand to negotiate with and they have no obligation to offer anything. We've had a couple RIFs ove the past couple of years and I'm quite surprised I was not selected. I sometimes wonder if a medical condition I acquired some years ago... that I did apply for FLMA for a very short period, gives them pause to lay me off, does that hold any water? My line in the sand is 2 more months... if they don't add me to a RIF, maybe my first step is to suggest to my manager to put me on a list if a RIF is forthcoming. If nothing 30 days after that, make my exit. But I can tell you, I have one of those managers that does not throw support behind his reports so I wouldn't expect much from him. But anyway, which is a better route, going to my manager or HR as a first step?

 

[Midpack]

Can't hurt to try. But, be prepared to be escorted to the door that same day.

If that is fine, then let us know how it goes.

I'm not sure why the employer would grant severance, especially if the OP thinks he/she is being "managed out" (something I did a couple times), but you could ask. Just be prepared to be let go the same day, or some date not of your choosing (it could "hurt to ask") when they have your replacement ready and waiting.

With a few rare exceptions, if any of my employees, no matter how old and/or valuable asked me for severance, I'd politely decline - and probably chuckle after they left. And I'd be getting my plans for a replacement underway.

 

[Aerides]

If you try, and don't get the right answer, be prepared to leave with the year, or far less. You will be considered dead man walking. Your boss won't give you good assignments, or fight for a good review/raise/bonus for you anymore. I mean...why would they at that point?

But sure, can't hurt to try if these things happen.

 

[Texas Proud]

My question would be why would they want to give you a package? Are they having a RIF? If not, then they have no reason to give you anything.

If they are trying to get you to leave.. then why? They can just let you go... for no reason at all..

As mentioned, you can always ask but I doubt they would do anything.

 

[Flieger]

I'm not sure why the employer would grant severance, especially if the OP thinks he/she is being "managed out" (something I did a couple times).....

I once had a manager like that. I won't go in to details, but I had the opportunity to ruin his career, and took it. Wouldn't have if he had been up front and worked the proper way to get the performance he expected. The expectation was made clear with the next VP I reported to, and I was with that company for 14 years. That tells me the guy I torpedoed was incorrect in his assessment.

For the OP, if you are ready to leave anyway and feel you are not being treated properly, what could it hurt? If you plan on retiring anyway, I would do it now. If you plan on working somewhere else, I would start that process and then go to them. Either way you win! Good luck!

Flieger