In the current economy, it seems as though week after week we are hearing about more layoffs. From Amazon to Meta, to Google: layoffs are part of the current state of affairs.
Maybe you work for a company that has been going through a lot of changes and upheaval. Word is going around about lay-offs and you worry you will be next. If you’ve been an excellent employee and the lay-off is not because of anything you’ve done, be sure you ask these three questions as you are being handed your Pink Slip:
1. Ask for a Letter of Reference. This can be used to help you land that new job. It can be hard to find a new job when you are unemployed, but a letter that praises you and your accomplishments can go a long way in helping you find a new opportunity. This will show future employers that your termination was a business decision and not because of any wrongdoing on your part. Most people forget to ask about this, and it is difficult to try to go back later and ask for one, once you have received your marching orders.
2. Ask about severance pay. You’re not automatically guaranteed this unless it was stipulated in your employment contract when you were hired, but many companies do offer severance pay when they lay off employees. Typically, one week of severance is given for each year of service to the company, but this can be negotiable. If If you’ve recently finished an important project, received a reward, been honored, or achieved a major goal, be sure to remind them of the value you brought to the organization during your tenure. It may buy you another week of severance pay they weren’t planning on giving to you.
3. Are you entitled to your unused vacation pay? In some cases, the answer is no. Some companies allow you to roll over your unused time from one year to the next, while others have a use it or lose it policy. With unlimited vacation time in some companies, this will likely not be an option. Most companies will explain their rules in the employee handbook, but asking to be paid for any of your unused vacation pay just may earn you a few extra dollars you could use while searching for your next opportunity.
You may not get any severance or vacation pay, but there’s no harm in asking since the worst they could do is say no. Don’t forget, this is a very difficult situation for your boss, too, so they may be willing to give you more than had been planned. If the moment passes, chances are you won’t have another opportunity to ask these questions again. Knowing ahead of time what to ask for may give you the confidence to speak up for yourself at this difficult time.
Good luck!