The lure of short-term employment
By Gordon Powers, Sympatico / MSN Finance
If you live in Ottawa, it’s almost impossible not to too be touched by the fallout at Nortel. If it’s not your friend or neighbour hitting the pavement, then it’s certainly one of their acquaintances.
Among the hardest hit are those Nortel employees who got laid off last year. Despite howls of protest, CEO Mike Zafirovski recently confirmed that severance payments still owed to them are frozen by the bankruptcy filing and will be added to the company's debts. Legal, sure, but it hardly seems fair.
Unfortunately, that’s one of the dangers of taking salary continuation payments (assuming you have a choice) over a lump sum. You never really know whether your employer is going to hold up its end of the bargain.
The other problem, of course, is what happens when a job prospect does surface. Increasingly laid off employees in knowledge industries are wondering if shorter-term contracts, despite the impact they may have on severance, could be the way to go. Or should you hold out for a full-time gig if you can?
Here’s what Mark Swartz, author of "Get Wired, You're Hired," thinks of interim employment and his advice on how to position yourself when explaining why you really do want the job.
By the way, if Nortel’s woes are close to your heart, Mark Evans, a blogger who used to cover the company as a reporter at the Financial Post, tracks company developments at All About Nortel.
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