Performance plan and severance

[Possiblyoutofjob]

I'm looking for some support / hand hold.

I was promoted to Manager during maternity leave. Since I was back I had several health issues and my DC kept falling sick at the nursery which impacted my life and especially work. Due to series of events I'm now standing at the cusp of being either fired with pay for notice period or take a severance package and leave respectfully.

I'm at a Big4. I've been offered 4 months pay as well as garden leave to cover my notice period.

I have asked for a demotion and lower salary (to keep inflow of salary to cover mortgage payments) but that's not an option. I'm very disheartened.

I’d negotiate for more pay. You can then have some time off and reconsider. It’s big 4 so to them a few extra months pay won’t be a big deal. There’s definitely room to negotiate.

If you are keen to stay it's worth while going to talk to a variety of engagement managers and asking if they have openings. If you get billable the problem might go away.

It's all about relationships so being flexible, easy to work with and a strong skill set will really help.

Is your internal CV up to date? Do you have different versions to match you various skill sets and client jobs?
Are you able to see the types of client roles coming in? Do your skills match?

Have you looked outside of your immediate team for opening?

It's tough in consulting at the moment (assuming you are from consulting side of big 4) Everyone hired at pace during Covid when demand was super high and now demand is back to where it was before but with a surplus of staff.

>I've been offered 4 months pay as well as garden leave to cover my notice period.

How long is your notice period? 3+ months?

I would take the money. It's seven months pay in exchange for zero work and it's the least stressful option. If they've decided you've got to go, there's no staying.

Sorry if I was not clear before. My notice is 3 months. I was getting only 1 extra month pay. I got a lawyer. He said that Big4 won't normally pay more than 1-2 extra months.

I went back asking for 6 months. They have responded back with only 2 months extra (plus notice) or they will withdraw their offer.

Other things offered - I can keep my number, cover legal fees , recruitment specialist and reference letter.

You just need to take it and leave. That's 5 months' pay while you find a new post because you're not having to work the notice period.

They have been crystal clear that they are using the PIP to get rid of you, which is what the Big4 do - you can't change that outcome and you've negotiated the best exit possible.

Leave with your head held high.

That's not a bad offer Op. I'd take it and move on. There is no real way to fight this but even if there was a way, would you want to!

Take it and walk out with your head in the air .

Their offer is very decent.

I would def take it

I would take it too. You will be pushed out regardless, as upsetting as it is and I'm sure you want to stay. I'm sure you'll find another job soon.

Agree with others this is probably the best you will get. Bear in mind the first £30,000 is generally tax free. You are going to be going no matter what - this buys you done time to regroup & start again.

Take it, you are going whether you like it or not, so take the offer.

https://www.gov.uk/termination-payments-and-tax-when-you-leave-a-job/what-you-pay-tax-and-national-insurance-on#:~:text=You'll%20pay%20tax%20and%20National%20Insurance%20on%20the%20part,re%20asked%20not%20to%20work)

Re tax on your severance I would check this on link provided.

If you are getting legal advice funded by your employer for your final payment use them to help clarify tax implication.

The legal advisor made it clear from the beginning that they will only cover the employment termination contract and discuss as required. They will not help with tax.

Thanks for your note though, I'll have a look into this.

Update: I accepted the offer with 2 months additional pay.

The funny thing is that I'm put on garden leave but my HR contacted me to say that due to resource crunch I have to work for a few weeks and complete projects that my colleagues are working on. The contract only said about handovers.

Suddenly they have too much work. 🙄