Layoffs considering an Alternate Offer at the same Company
So you got notice that the company is going to be doing some layoffs? You found out that your prized position is now vulnerable? You were given notice for a layoff in your position? You might want to consider an alternate offer at the same company. There are several benefits to considering an alternate offer at the same company.
BENEFIT #1: If you can find another position within the company you do not lose seniority in most companies. You might have to switch departments. The majority of companies will allow you the same seniority status even if you switch departments. Seniority status then means you have the advantages you have worked for by sticking with the company so long.
BENEFIT #2: Considering an alternate offer at the same company means being able to keep your health benefits. The monthly premiums you pay for health insurance will continue if you are still an employee of the company. Changing job positions or job titles should not affect your being able to keep your health insurance benefits.
BENEFIT #3: Considering an alternate offer at the same company means being able to keep your 401K. You have put a lot of time and planned for your 401K. If you stay within the same company, you can still benefit from everything that the 401K has earned and saved for you. The company will more then likely keep matching the percentage that was already set up.
BENEFIT #4: Your time toward retirement still keeps adding up. There are many companies that offer a wonderful retirement package. The retirement package is based on the number of years served with the company. If you consider an alternate offer at the same company, your retirement time is still adding up for you. Going with a new company will cause you to lose the retirement time that you have built up.
BENEFIT #5: Considering an alternate offer at the same company means that you keep your vacation time. Some companies have roll-over of vacation. You can save vacation from one year and have it go to the next year. Also, some companies offer vacation time by the amount of time you have worked for the company. After x number of years you get one week. After another x number of years you get two weeks of vacation. Taking an alternate position with the same company means that you will not lose the vacation status that you have worked so hard to build up.
BENEFIT #6: Since you already work for the company, they know what a great job you do. Getting transferred to another position is easier then hitting the pavement or the internet to find a totally new position with a brand new company. The transition from one position is easier if you choose to take an offer from the same company that did the layoffs.
BENEFIT #7: Considering an alternate off at the same company means keeping familiarity. Familiarity is how comfortable you are with a situation. You already know the layout of the buildings. You know the general expectations of the company. It is less stress with job transitions if you already have familiarity with a company.
BENEFIT #8: You can continue to build up personal days and sick leave days. Many companies let you carry sick leave and personal days over to the following year. If you stay with an alternate offer from the company you can keep the sick leave and personal days that you have worked so hard to build up.
BENEFIT #9: You will not lose merit raises status. When you start with a new company, you start at the bottom of their pay raise system. Considering an alternate offer at the same company means that you will already be in the pay raise system. Most companies follow the same pay raise setup even if you transfer to a new department. Instead of being eligible for say a ten cent raise you would still be eligible for a say a seventy-five cent raise. Starting with a new company means that you are essentially starting fresh for merit raise status.
BENEFIT #10: With a new company, you will have to work through a probation or trial period. Not only are you having to adjust to new work demands, new people but you are on trial. Your job security isn't much better than with the previous company. If you are able to accept an alternate offer, you will not be on probation status. The company already knows how hard you work and that you are an asset to the company.
Considering an alternate offer with the same company means that you can keep your seniority status. It also means you will keep your health, retirement, 401(k) and merit raise status. Vacation time, personal time and sick days are less likely to be lost if you consider an alternate offer with the same company. Even though being part of a layoff is challenging, try to find out if you can work a different position within the same company.
