Friday, August 3, 2007

Severance Insurance

It would be pretty interesting to know how the average worker rated financial severance insurance vs. service severance insurance. My sense is that those who have gone through the drill and think that service severance is like outplacement would rate service severance pretty low. I'm not real objective on this subject because the outplacement "assistance" that I was given as a displaced senior executive was absolutely WORTHLESS. And to think my employer actually paid for it...scary! The fact that HR executives think it has value...even scarier!!

My vision of service severance is very different. First, it's actually accountable to its client(s). If they don't help you find a new job, they don't get paid. Second, they actually become an advocate for the displaced worker. Third, they have the ability to reach deep into the world of available jobs and match up opportunities that actually fit...your age, your skills, your experience, your location, etc..

I really think there's a void in this space, and without a whole lot of imagination I think we are beginning to see that there is a lot of "loose" money kicking around in the world of severance that could be better applied to not only provide a financial bridge during unemployment but also provide active advocacy with a clear goal...finding a new job.

Let me know what you think.


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