Scotts Valley, California / February 21, 2013–JobEscrow, Inc., pioneers and inventors of the Employment Escrow industry, has introduced their latest solution for the mortgage and banking industry. The solution is called Outplacement JobEscrow(TM) and is the first pay-for-performance outplacement service that helps laid-off employees find jobs.
The new outplacement system creates an accountable way for lenders to assist homeowners who are in default due to job loss. The employment escrow technology provided through the site www.JobEscrow.com gives lenders the ability to place a financial reward, in escrow, on the resume of the borrower in default. The reward is then made available to a network of recruiters and employers who help the job seeker obtain their next job. If the reward is unpaid, the employment escrow closes and the reward is returned to the financial institution.
Unfortunately there are still millions of individuals out of work in the U.S., many of whom are homeowners in trouble. JobEscrow’s new Outplacement JobEscrow service gives lenders outplacement insurance that ensures their sponsored reward will help laid-off homeowners find their next job sooner and more effectively, hence keep their homeowners in the homes and making their payments.
JobEscrow works with the unemployed homeowners who opt in to the lenders offer of assistance with linking their résumés to the escrow reward account. Lenders set the term date on the reward in escrow so any unclaimed rewards are refunded to the financial institution. JobEscrow enables lenders and companies to deliver affordable outplacement with their “employment escrow” pay-for-performance business model.
Outplacement rewards come from all types of sources and are confidential, as such the JobEscrow recruiter and employer network is never given visibility to know if a job seeker, ex-employer, lender, government agency, non-profit, or corporate donation sponsored the reward. This designed layer of confidentiality ensures that the reward circumstances is not disclosed.
“Job loss is traumatic, but in combination with the loss of a home, it is devastating to families. Lenders have a vested interest in helping their homeowners in default obtain work and we have customized a familiar process (escrow) with a system that increases the chances of return to work and resolution of default. We are in a new economy and lenders are looking more constructively about preventing foreclosure and JobEscrow is designed to be a part of this new mortgage industry trend,” said Ken Winters, Co-Founder and CEO of JobEscrow.
JobEscrow is the first to market with innovative and patent pending online marketplace applications and services that will transform the outplacement industry by introducing escrow as the new standard process for most outplacement and contingent recruiting.
JobEscrow launched Standard JobEscrow(TM) last fall. This ground-breaking service creates an online marketplace for employers and recruiters to do business in, where the recruiter fee is paid in installments, over time through an escrow account, contingent on the tenures of the new hires they place.
Pioneers and inventors of the new “Employment Escrow” industry, JobEscrow creates an online marketplace for employers and recruiters to do business in, where a monetary reward can be offered to those who help laid off employees get their next job as well as providing a new system where the recruiter fee is paid like an annuity, over time through an escrow account, contingent on the tenures of the new hires they place.. The first two patent pending services, Outplacement JobEscrow(TM) and Standard JobEscrow(TM) create trusted, social “business” networks where employers and recruiters can do business together in a fiscally responsible way and with hire expectations. For more information, go to https://www.jobescrow.com