5 Tips for Making the Most Out of Getting Fired

You need to think about your exit before you join a company. The best time to negotiate fair terms upon your departure is when the company wants you most. Normal severance terms can include 3-12 months of salary and COBRA (US Healthcare coverage is insane). 

If you didn’t negotiate in advance, don’t despair, negotiation is still an option. If you have a strong relationship with your boss, you may be able to negotiate for an extension of your health insurance and/or a role on an advisory board. If you remain as an advisor, you don’t need to signal that you’ve left your job on LinkedIn (but you can set yourself as open to new opportunities). And if the company wants you to sign a release in order to receive your separation offer, that’s another negotiation opportunity.

If you can afford an employment attorney, engaging one while negotiating your offer is a very effective way to ensure your exit is fair and unemotional.

You need to think about your exit before you join a company. The best time to negotiate fair terms upon your departure is when the company wants you most. Normal severance terms can include 3-12 months of salary and COBRA (US Healthcare coverage is insane). 

If you didn’t negotiate in advance, don’t despair, negotiation is still an option. If you have a strong relationship with your boss, you may be able to negotiate for an extension of your health insurance and/or a role on an advisory board. If you remain as an advisor, you don’t need to signal that you’ve left your job on LinkedIn (but you can set yourself as open to new opportunities). And if the company wants you to sign a release in order to receive your separation offer, that’s another negotiation opportunity.

If you can afford an employment attorney, engaging one while negotiating your offer is a very effective way to ensure your exit is fair and unemotional.

LinkedIn and your resume (or CV) should always be up to date and full of quantifiable impact. Set notifications so that your network is NOT alerted when you update your profile. You don’t want to tip anyone off that you might be looking for a new opportunity. Make a quarterly appointment with yourself to update your LinkedIn and CV. You won’t be caught flat-footed when you are fired.

Getting fired is not personal, it’s business. It doesn’t mean that you’re a bad person or that you’re not good at your job. In most cases, it has nothing to do with you. Companies are constantly evolving and changing direction. As a result, the team that was brought in to achieve one set of objectives is often different from the team that’s needed to achieve the next set of objectives. If you take it personally, it will be harder for you to move on and find your next opportunity. The vast majority of hiring managers in high growth industries have themselves been fired for reasons they could not control.

The way you tell your story about getting fired leaving a company matters. When you’re interviewing for your next role, you’ll be asked about what happened at your last company. For the most part, companies cannot and won’t disclose the circumstances under which you left the company (unless you broke the law or are accused of doing so – then you should engage legal counsel ASAP). Prior employers will confirm your dates of employment and often nothing else. You can frame the story to reflect what you learned, why you want a new challenge and what you will bring to a new venture. Be sure to focus on the positive and highlight the impact you delivered. Expect people to do “back-door” references so be precise and accurate about your contribution and don’t embellish. You did enough!