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WWYD - try and stay or take the money and run?(10 Posts)
I've been working for a fantastic company for the last couple of years. Great work, brilliant colleagues, company makes products that save people's lives. Unfortunately we've never turned a profit in 6 years and there have been redundancies. The third wave in two years, my head ison the chopping block.
Now the co is offering me a very decent severance payout (4.5 months salary net) if I stay till the end of March so I can do a good handover, which I'm more than happy to do. However, my workmate who will take on a load of my work is looking to leave asap. I would happily take on her job if she left, but for this issue of the payout.
WWYD? For context, the job is a very short commute, I have a baby and child at school, I can fit drop-offs/pickups around it and I can work there part-time. Workmate is 10+ years younger, no dependents, wants to move to another city. There is no guarantee the co will even accept the idea of me replacing her, and I've already signed the termination contract.
To avoid dripfeed, the jobmarket is buoyant in this place and my field, but my options are severely limited by not speaking the local language fluently.
Four and a half thousand sounds like a lot of money but in context it's bound to only be 3 month's pay at best. Would you definitely have a job after 12 weeks of looking?
Take the money now and escape while they've got money to pay you!
It doesn't matter that the job is convenient, that's a red herring in this situation, the fact is the company hasn't made a profit in 6 years, that isn't a good long term option to rely on for your own personal finances.
Get them to put their offer in writing, 6 months is a long time. If it was me I'd bargain with them to pay me 3 months salary and leave by end January and go quicker. Bird in the hand and all that! You'll get another job by the sounds of it
Sorry just noticed you've already got it in writing, which is good. I'd still try for an earlier release, if they accept that you can handover in 3-4 months, that seems reasonable (are you on a long notice period contractually?)
Why would I leave sooner?! I have a compromise agreement in writing and checked by my own solicitor that states I get the payout (which is 4.5 months salary net, not €4.5k) only if I stay to end March. The payout reduces for each month sooner I go, if I go sooner. I've signed the contract already. The long handover is because I work in finance and they need me to do year-end close, then assist with the annual audit, and then train whoever takes over what's left of my role. I don't want to leave sooner, I don't want to leave at all! But the payout is very generous.
My dilemma is whether I just accept the money and go, or suggest to the co I take my colleague's job when she goes and potentially lose the money.
It's a big multinational company, it's only the European part that's doing badly. There is zero chance they would go bust in the next 6 months and I wouldn't get the money.
But your section has never made a profit yet - is that likely to change, honestly? Start learning the language properly so you are up to speed before you'll be job searching next year.
You may not want to leave, but if they haven't made a profit then it's a high risk situation over the long term and the choice is unfortunately not yours to make.
Under the circumstances you've described, I would take the money according to your SA and realistically start to get your CV ready. If you get a firm job offer in the early new year, you'll be able to complete the notice period as it sounds like you're skilled enough that a new employer would not be surprised by a 2-3 month notice period.
Tricky. The fact you are part of a bigger group complicates the issue.