Leaving on the Best Terms: The Power of a Well-Negotiated Exit Package
An exit package is a negotiated agreement between an employer and an employee to bring an employment relationship to an end. It often includes financial compensation and other benefits in exchange for the employee’s resignation and waiver of future legal claims.
In New Zealand, a severance package, also known as an exit package, is a financial compensation or benefits offered to an employee when their employment is terminated by their employer, or by negotiation when they resign under a mutual agreement.
When an employment relationship breaks down, an exit package can provide a dignified and practical solution. Whether initiated by the employer or the employee, it offers a mutually beneficial way to part ways without the stress of lengthy termination processes or legal disputes.
Sometimes, it becomes clear that your role is no longer needed or valued—through no fault of your own. In such cases, negotiating an exit package is often a far better alternative than simply resigning. Many challenging workplace situations are resolved this way, allowing both parties to move forward on positive terms.
A well-structured exit package is confidential and designed to support a smooth transition. It may include financial compensation, a strong reference, a carefully worded departure announcement, non disclosure agreement or non-compete clauses. The exit package may incude other key benefits to protect your professional reputation and future opportunities.
Our experienced advocates specialise in identifying opportunities for exit packages and negotiating the best possible terms. Engaging us early in the process allows us to work with you to develop the right strategy for the best outcome.
If you are offered an exit package you do not have to accept it. It’s a good idea to seek legal advice to ensure the terms are fair and reasonable.
Need help negotiating your exit package?
Call us today at 0800 669 466 or provide us with the details below, and we’ll guide you through the process.
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