Packages only are paid out for some WFH if you stay a long time to train a replacement. They are pulling strings on us puppets by the payout of sums of money that, to long timers, it seems worth it. Is that the general opinion? Undecided
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I would get the max 26 weeks since I've been with the company more than 30 years.
I'm not relocating so when I leave, I want the 6 months pay to cushion the blow. I doubt a new employer would want to give me that as a signing bonus.
If the end day isn’t locked down then it’s a crapshoot and I’d go with the assumption to find a new job and try and negotiate a sign on bonus in lieu of what severance you’d be getting if you hung around for 6 months.
Unless you were at Fiserv 10+ years it’s not going to be a huge amount and at some point mental health is more important than a few K.
@wvn+1dEKtebo Thank you for this very sound advice! Fingers crossed the job market continues to stay strong through the next year!
@OP+1dEKtebo My manager told me it would be several weeks before she got back to me with the details in writing and that HR would be working on putting together the package. It’s been 2 weeks so far since we’ve talked. Could take a while to fill these positions, and then you gotta hope they stick around. End date could be a moving target in my opinion.
Anyone received a work agreement in writing around training and a package? If FSV can’t backfill in NJ, will they still give a package? Important to see that in writing, otherwise they could easily “change the policy”
They are pretty confident that they will even be able to find people to train as replacements.
@wvn+1dEKtebo - " if they want you sooner, then they will need to buy you out of your severance with a cash bonus, make sure there is no clawback period. "
What an excellent suggestion - never thought of a cash bonus as a buyout for the severance.
@mxr+1dEKtebo here is what I recommend:
- wait around to hear your end date and package. At that point you are there to help transition and your #1 most important task is to find your next gig. Update your resume and start connecting
- once you are within 3 months, start aggressively looking. Between interviews and background checks that will take a minimum of 6-8 weeks
- if you get an offer before your end date, try and set your start date for a week after your end date (take a week off to breathe)
- if they want you sooner, then they will need to buy you out of your severance with a cash bonus, make sure there is no clawback period. If it’s high enough companies will be happy to wait a few extra weeks
Timing is everything in a strong market, and there is no reason why you can’t cash out of Fiserv and use the transition period to find a great next job
Im waiting to see what my anticipated end date would be. I’ve been asked to stay on and train. The bonus pay to do so would be nice and I’ve been around long enough to almost reach the max severance amount. I don’t know if I should jump ship beforehand or not. If I have an end date, I can plan to hit the job search hard right before that time. In a perfect world, I could get severance and then find something else shortly thereafter. But I know life is not always perfect (as this mess has shown me). Just taking it one day at a time.