Getting laid off is a worst-case scenario for many people in the current economy, but it doesn’t have to be. For some, it paves the way to a new life–as an entrepreneur.
In “How to Start a Business: First, Get Fired,” our latest story for the AARP’s Work Reimagined site, we offer tips from experts ranging from employment lawyers to a seasoned HR pro on how to negotiate a severance package.
Many people are blindsided by a layoff announcement and don’t even think of asking for terms in their severance agreement that might leave them in a stronger position to move on to the next chapter of their lives and prevent them from dire scenarios like losing their house. Sometimes, laid-off workers are hesitant to negotiate at all, for fear that their employer will hold it against them and avoid giving them a good reference in the future.
But, as these experts point out, many employers are prepared to treat you fairly after a layoff, as long as you are clear in asking for what you want and are willing to negotiate a bit
If you’re worried about issues like continuing your health coverage or whether you’re free to compete with your employer going forward, we encourage you to read these tips. They could help you get off to a stronger start on your entrepreneurial dreams.