Pre-Lay Off Full Guide. Part 3
Outline the most advantageous exit strategy for yourself.
Consider how much severance you expect and under what terms. While not always guaranteed, it's definitely worth preparing for this discussion. Details will depend on your personal situation, reputation, and relationship with your manager.
In Canada, severance payments are based on factors like tenure, job position, type of termination (voluntary, involuntary, etc.), as well as the province and, of course, employment contract.
For instance, under the Employment Standards Act of Ontario, the minimum notice period is 1 week for employees with 3 months to 1 year of service, with the period increasing with tenure. However, actual severance pay can exceed the minimum if stipulated by the employment contract or case law.
Prepare your case thoroughly.
Especially by showcasing your achievements throughout all your time in a company — how the business has benefited from your contributions in terms of profits, sales, new hires, leads, and employer branding. It’s always crucial to quantify these achievements in figures and percentages. Ideally, if your company or projects have been mentioned in the media, keep track of these and be ready to defend your position in negotiations.
Because all our achievements are a result of what we’ve been able to negotiate.
Be ready for negotiations to take time, or conversely, for a quick resolution in your favor. Each case involves multiple individual factors.
Above all, stay emotionally strong — focus on clear facts, and ensure everything is documented in writing in case you need to take legal action.
Unsure or anxious about how to proceed? Refer to point 7.
Seek support of trusted friends or advisors...
who can accompany you or offer guidance on handling prolonged or difficult negotiations. In stressful moments, an outside perspective helps prevent hasty emotional decisions. A reliable confidant can objectively evaluate offers, ask the right questions, and even act as an intermediary if necessary..
The more confident and composed you appear, the more power you demonstrate and the greater respect you’ll command.
Keep in mind:
Business always prioritizes profit, followed by reputation and ethics, and only last - your personal situation.
The more clear-headed, consistent, and strategic you are in negotiations, the higher the likelihood that your terms won’t just be heard but taken seriously. Because typically, once a decision about you has been made, the company will want to move quickly to part ways without much fanfare.
Know this, and stand firm. Leave all emotional responses, concerns, and tears for therapy and calmants.
Review your employment contract, refresh your knowledge of labor laws.
It’s a must. What government support are you entitled to after leaving the company? How much vacation time remains? Were there any overtime hours worked? Do you have additional corporate benefits you can utilize before your departure (insurance, bonuses, pension contributions)? The more information you have, the more confidently you can defend your interests.
Retrieve personal files from your work computer.
This may seem obvious, but time and again, I hear people forget or fail to do this. It’s better not to store personal files on your work computer at all, despite the inconvenience. In the West, they fire people in 15 minutes, and your work laptop could be locked just 10 minutes after your position is cut. Whether you’ve been in the role for 3 years or 30 doesn’t matter.
I won’t even mention updating your resume — it should always be up to date and ready for distribution.
Agree with your manager on the official legend of your departure if your role was significant and your leaving will be unexpected.
It’s often assumed that employees don’t leave large companies voluntarily — they are usually let go. But that's not always the case. However, people love rumors and gossip.
So, if you have trusting relationship with your manager and you’ve agreed on a professional parting, discuss how you’ll communicate this to your team and partners. This will help avoid unnecessary speculation and protect your professional image.
Be prepared that your former manager may break this agreement. Even the most trusted individuals can betray.
Your reputation, both inside and outside the company, belongs to you. People will talk, but they’ll remember you not for the gossip but for your achievements and real contributions.
I hope these 11 points will never be useful to you. But as Ray Dalio said:
"To be successful, you must first become a hyper-realist."
And I agree with him.
Wishing you smooth and successful transitions.
February 9, 2025.