Photo: Alex Barth via flickr
It can be uncomfortable enough negotiating your salary and benefits, so throwing in a severance package can be intimidating. This is especially true if you’re a woman.
Joey Reiman at LittlePinkBook reports that women are so fearful of the severance package negotiation that they’ll end up losing nearly $500,000 by the time they get ready to retire.
The best way to get fired like a man is to get hired like one. That means knowing the market value of the position so that you can position yourself from the start. [Negotiating your severance] should happen as salary and benefits are negotiated too, ideally before you even take the job.
Rhonda Parish, executive vice president of The Denny’s Corporation, agrees that you should conduct this negotiation at the beginning and definitely not wait until leaving the company, but women don’t always ask because they’re afraid of setting an unappreciative or awkward tone with their new bosses. They’re also “unaware of opportunities and their rights” to a severance package.
“Women are their own worst enemies,” Kathy McGinnis, former executive vice president of human resources for Wendy’s International, told Reiman. “Women tend to be accommodators, looking for how to find win-win solutions. They don’t enjoy conflict or an adversarial approach. If men do battle, it’s seen as aggressive. When women do the same, it’s seen as bitchy.”
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