Scotts Valley, California / April 19, 2013 — JobEscrow, Inc., pioneers and inventors of the Employment Escrow industry, has moved the individual job seeker system “Outplacement JobEscrow” out of beta testing. Individual job seekers no longer need an employer, government agency, or non-profit to sponsor their reward in escrow, now job seekers can open and admin their own reward escrow account through the patent pending Outplacement JobEscrow system.
The Outplacement JobEscrow system provides traditional help such as resume review, social media facelift, and search strategy through independent career coaches and also offers a licensed, insured, and bonded escrow processing service which administers a reward in escrow tied to an individual job seeker’s resume. The reward in escrow, which typically is in the range of $500 (minimum of $100) is made available to JobEscrow’s national network of recruiters and employers and is payable to the recruiter who helps, or employer who hires, the job seeker. In the event the job seeker obtains a job without assistance from the JobEscrow network, the escrow closes and the reward is refunded back to the job seeker.
Ken Winters, Co-Founder and CEO of JobEscrow stated, “Back in 2002 I was responsible for laying off 112 out of a department of 120 employees and then laid myself off, all due to the dotcom bubble. The company had nothing to offer those impacted and I’ve searched for a way to provide a guaranteed pay-for-performance system for employers to offer, or job Seekers to obtain, traditional outplacement coaching services along with an accountable way to engage recruiters and employers help in the job search. This lead to the creation of JobEscrow, which first offering was employer focused.”
Winters continued, “We have been talking daily with companies across the United States about their outplacement needs and just like my situation in 2002, it is typical that the person at the company we are talking with is also being impacted. This led to individuals requesting a system in which they could sponsor their own reward in escrow if the company is not funding outplacement benefits. As a result, we focused our development team on building out our individual job seeker system and are pleased to announce beta testing on the system is complete.”
The Outplacement JobEscrow system is easy to use with a free, quick, and private registration. Once registered, a Job Seeker can purchase a token for $410 to open an escrow in which they specify the reward amount, minimum of $100 and typically set in the $500 – $1,000 range with and expiration date. The escrow reward is then funded by the Job Seeker through JobEscrow Processing Corporation, a licensed, insured, and bonded internet escrow company that holds the reward amount in escrow. Concurrently with the escrow set-up, the Job Seeker starts receiving traditional outplacement services through a career coach including resume review, social media facelift, and search strategy.
When the resume is ready for distribution to the network, it is linked to the escrow reward account and published to JobEscrow’s national network of recruiters and employers. The recruiter who helps, or employer who hires, the job seeker can claim the reward if they have documented their assistance through time stamped notes logged in the escrow. Rewards that are not paid due to either the job seeker obtaining a job outside of the JobEscrow system, or the reward expiring per the expiration date the Job Seeker selects, results in the escrow closing and 100% of the reward in escrow being refunded to who funded the reward (e.g. back to the job seeker if they paid in, back to the laying off employer if they paid in, back to the government agency if they paid in, etc.)
Ken Winters went on to say, “We surveyed job seekers each month last year and consistently that they would rather obtain a new job quicker by paying the reward than continue with their job search status quo. The explanations were consistently the same ‘the reward money won’t cover the rent/mortgage but investing it to obtain a new job will pay the rent/mortgage.'”
Additional information can be found at https://jobescrow.com/services/job_seeker
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. The patent pending Outplacement JobEscrow(TM) web app creates 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