Employment relationships end all the time–especially now, during the Great Resignation, when a record number of workers are choosing to leave their jobs. But even during this tidal wave of voluntary departures, involuntary or acrimonious separations occur every day.

For C-suite executives, managers, and other high-ranking employees, the unexpected, unwanted, or unjustified end of their tenure can be a time of anxiety and uncertainty. But, it can also be a time of great opportunity—if they know how to seize it when negotiating the terms of separation from their soon-to-be-former employers. Unfortunately, too many otherwise business-savvy individuals take whatever their employer offers them in a severance package—if their employer offers anything at all.

Departing employees often think they have no leverage to ask for a better deal, or that pushing back will result in an even smaller severance package. That’s a fallacy, and it’s one that employers will take advantage of.

If your employer is pushing you out the door, signing on the dotted line of a severance agreement without understanding the power you have to obtain better terms and without consulting an attorney are costly—and avoidable—mistakes. You have cards to play, and if you play them correctly, you can obtain greater financial security and more robust benefits. This will better position you for success as you move forward in your career.

The leverage you may not know you have

Many employees enter severance...

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