What benefits and perks should you negotiate for as an executive in a company that is restructuring?

1 Base salary

One of the most important benefits to negotiate for as an executive is your base salary. This is the amount of money you earn before taxes and deductions, and it reflects your value and contribution to the company. Even if the company is restructuring, you should not settle for a lower salary than what you deserve or what the market rate is for your position and industry. You can research the salary ranges for similar roles and companies, and use this information to justify your salary expectations. You can also highlight your achievements, skills, and experience that make you a valuable asset to the company, especially during a time of change and transition.

2 Bonus and incentives

Another benefit to negotiate for as an executive is your bonus and incentives. These are additional payments or rewards that are based on your performance, goals, or results. They can be in the form of cash, stock options, equity, or other forms of compensation. Bonuses and incentives can significantly increase your total income and motivate you to excel in your role. However, they can also be affected by the company's financial situation, strategy, and objectives. Therefore, you should negotiate for clear and realistic criteria, metrics, and timelines for your bonus and incentives, and ensure that they are aligned with your personal and professional goals. You should also ask for a written agreement that specifies the terms and conditions of your bonus and incentives, and how they will be calculated and paid.

3 Severance package

A third benefit to negotiate for as an executive is your severance package. This is the compensation and benefits that you receive if you are terminated or laid off from your job. A severance package can help you cope with the loss of income and benefits, and provide you with some security and stability while you look for a new job. A severance package can include several elements, such as severance pay, continuation of health insurance, outplacement services, references, and non-compete clauses. You should negotiate for a generous and fair severance package that reflects your seniority, tenure, and contribution to the company, and that covers your expenses and needs for a reasonable period of time. You should also review the details and implications of your severance package, and consult a lawyer if necessary.

4 Flexible work arrangements

A fourth benefit to negotiate for as an executive is flexible work arrangements. These are options that allow you to adjust your work schedule, location, or hours to suit your preferences and needs. Flexible work arrangements can include working from home, telecommuting, flextime, compressed workweek, job sharing, or part-time work. Flexible work arrangements can offer you more autonomy, convenience, and balance in your work and personal life. They can also help you cope with the stress and uncertainty of restructuring, and improve your productivity and performance. You should negotiate for flexible work arrangements that suit your work style, responsibilities, and goals, and that are compatible with the company's culture, policies, and expectations. You should also communicate clearly and regularly with your manager, team, and stakeholders about your work arrangements, and demonstrate your commitment and accountability.

5 Professional development

A fifth benefit to negotiate for as an executive is professional development. This is the opportunity to learn new skills, knowledge, or competencies that can enhance your career and performance. Professional development can include training, coaching, mentoring, certification, education, or networking. Professional development can help you stay updated, relevant, and competitive in your field and industry. It can also help you prepare for new challenges, opportunities, or roles that may arise from restructuring. You should negotiate for professional development that matches your interests, strengths, and aspirations, and that supports the company's vision, mission, and values. You should also seek feedback, guidance, and support from your manager, peers, and mentors, and apply your learning to your work.

6 Recognition and appreciation

A sixth benefit to negotiate for as an executive is recognition and appreciation. This is the acknowledgment and reward of your efforts, achievements, and contributions to the company. Recognition and appreciation can be in the form of praise, feedback, awards, gifts, or other forms of expression. Recognition and appreciation can boost your morale, confidence, and satisfaction in your job. They can also reinforce your relationship and trust with your manager, team, and company. You should negotiate for recognition and appreciation that are timely, specific, and meaningful, and that reflect your values and expectations. You should also recognize and appreciate others who support you and help you succeed in your role.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?