One of the most complicated decisions a person has to make is whether to accept the package this can bring their job to an end. These are a few things to take into consideration.

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Jeff Altman, The Big Game Hunter, I'm a job coach who helps people, not just simply with a career change, but with hiring, managing and leading, being more effective in the workplace, in general.
So, there rumbles about a buyout. It's exciting or scary, but you're going to have to make a decision. A decision whether to take the package or turn it down. And they're telling you that, maybe, the next time, if there is going to be a next time, the buyout will be less generous. Whoo! That's pressure. What do you do? How do you decide if it makes sense?
And age is a part of this because, when you're younger, it's easier. When you're older, you're fearful and it's perfectly understandable, because the data is there. If you're over 50, it's hard to find work. So, I just want to point that out because no matter what you do, there's gonna be a leap of faith involved with it.
In evaluating whether to take a buyout, here's a couple of criteria to make it more worth considering. Number one is you're approaching retirement, a couple years away. Thepackage is large enough for it to make sense. Maybe you can move up that retirement date. Maybe what you do is accept the lower offer, use this as bridge money to up yourself to the current salary, and then you'll have extra towards your retirement. That's one option for you.
And that, like all these options, assumes you're marketable. If you're not marketable, it's hard to make this choice unless you're prepared to surrender at this stage, and that is absolutely fine.
Number two is if you've been passed over for promotion, or you've lost clout in the organization, and those two could be linked to one another, but it's time to pay attention to it. You're unhappy in the work that you're doing, you're unhappy at the firm and, again, I'm going to remind you, and you're marketable. Not marketable? Don't have the right skills or experience? Not so good to move.
If you're thinking about making a career switch, and this helps you with bridge money to dive into this, maybe, you're doing training, you're going for an advanced degree or some version of certification program that allows you to do a transition, it may be time to do this.
But I just want to remind you that you don't have to accept the first offer some things can be negotiable for you, especially as an older worker. Like, they're going to say, "we're going to give you X number of dollars per year of employment." But, let's say, you're in a situation where you've lost clout. You want to negotiate your references and how they're going to be handled.
Can you negotiate the appearance that you still have an office there where you can pick up voicemail at that number, so that you give the illusion that you're working now? Can you take the buyout over time, which is better for you for tax purposes? You know, there's lots of little details, including talking to former colleagues who took packages, or current people and what they're negotiating for to give you ideas of things that you can do to advantage yourself in the negotiation.
People tend to be closed off from one another in these situations for fear that someone could "FIND OUT." It's kind of like when employees talk about salary, no one discusses it, which is what employers want you to do. Because, then, they're bidding with all the information, you with none, versus a number of you collaborating with one another, to support one another and getting the most.
I don't have the answer for what's right with you. There's lots of variations, including whether you have a wife, husband or partner with additional income that's going to help you financially. No matter. These are some things that you ought to take into consideration when you're evaluating whether you accept the buyout.
I'm Jeff Altman. Hope you found this helpful. My website is TheBigGameHunter.us. You can go there and go exploring; there's a lot there to help you.
In addition, if you're interested in a one on one coaching because you made a decision to to accept the buyout, at the website, there's a button there that says SCHEDULE on a bunch of the pages. Schedule time for a free discovery call or introductory call, or schedule time for coaching. I'd love to help you. I've got a program with a 90 day immersion with me. That will help you by getting into the job search swing much more quickly.
Also, if you want to subscribe to my channel on YouTube, do it by clicking the little icon in the lower right or the picture of me in the upper left to get notified whenever I release something new. And, you can also watch me on Amazon fire tv or, and then you can do that by downloading the Job Search TV app for FireTV, or on BingeNetworks.tv. That's an app for Apple plus or for Roku.
Have a great day and take care

ABOUT JEFF ALTMAN, THE BIG GAME HUNTER

JeffAltman, The Big Game Hunter
JeffAltman, The Big Game Hunter

Jeff Altman, The Big Game Hunter is a coach who worked as a recruiter for what seems like one hundred years. His work involves career coaching, all as well as executive job search coaching, job coaching and interview coaching. He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 2000 episodes and is a member of The Forbes Coaches Council.

Are you interested in 1:1 coaching, interview coaching, advice about networking more effectively, how to negotiate your offer or leadership coaching? Schedule a discovery call at my website, www.TheBigGameHunter.us

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