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HR RIF
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HR RIF
Discuss your job search, the interviewing process, creating the right resume, how the HR profession's changes require new job-search approaches and related topics.
I’ve been told that my position as HR Manager is being eliminated. Thankfully, the time frame is going to be in the next 5-6 months. I have been told that I will receive my severance and I have
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Forums » Topic Forums » HR Career Forum » HR RIF
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HR RIF
posted at 11/13/2006 4:04 AM EST
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Posts: 91
First: 5/20/2003 Last: 11/13/2006 |
I’ve been told that my position as HR Manager is being eliminated. Thankfully, the time frame is going to be in the next 5-6 months. I have been told that I will receive my severance and I have asked for a stay bonus as there are several projects that will require my full attention in the months before my departure (i.e. department closings, position eliminations, etc.).
My concern is that I have not received a clear answer on my final date of employment as I’ve been told around the April - May timeframe and they really will not know until it gets closer. I would like to make sure that my stay agreement is worded so I am protected. Without knowing when my final date is I will not know when to really start looking for a new position, which can put me in a bad position personally. Any advice? Also, what is considered reasonable for a stay bonus? I’ve been with the company 4 yrs. |
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HR RIF
posted at 11/13/2006 6:54 AM EST
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Posts: 38
First: 9/29/2006 Last: 3/10/2008 |
Dear Busybusy:
Perhaps some HR readers can tell you the stay bonuses they have provided employees. At the very senior level, a stay bonus could even equal fifty percent of a persons base earned during the stay period. It is paid after the person leaves and is not paid at all if the person leaves before the stay period or is fired for cause. As far as your job search is concerned, whether your end date is April or May will not affect when you start to search. I dont know your salary level or the job market for HR in your geographic area, but there are still certain things you should be doing now regardless of the end date, such as: · Get your resume and cover letter ready. · Become more involved with the HR community so you know everyone and they know you. · Develop a target list of perhaps 20 organizations you would like to work for a very important part of the job-search process. · Get to know key people in each of these organizations whether or not they have an opening right now. Make sure you are the favorite of the HR team in those organizations. Let them know your work situation so they will keep you in mind if they have a need that occurs anywhere around that time. · Research job postings to see which companies are in a hiring mode right now. This kind of search gives you the freedom to explore employers you would love to work for and be considered for jobs before they are posted. They you wont have competitors to deal with you will be the chosen one every job hunters dream. If they are desperate to hire you before your stay period has ended, they may offer to make you whole and offer you the equivalent of your stay bonus as a sign-on bonus. Kate Wendleton, President The Five O'Clock Club A national career coaching and outplacement organization www.fiveoclocklcub.com |
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