TEXT OF STORY
Steve Chiotakis: Everyday, it seems there’s another round of lay-offs. Most employees are lucky to leave with a couple weeks’ pay. But one ad agency is investing in its workers, even as they exit involuntarily. Here’s Marketplace’s Stacey Vanek-Smith.
Stacey Vanek-Smith: How’s this for a resume enhancer: Your old employer pays your new employer half your first month’s salary.
That’s the deal being offered by The Martin Agency, a Virginia-based advertising firm. It will pay up to $4,000 to companies that hire one of the two dozen workers it just laid off.
Beth Rile-Kelley: It seems like it’s working very, very well.
Beth Rilee-Kelley is Partner at the Martin Agency:
Rile-Kelley: We’ve gotten so many calls from employers who are bringing to our attention positions that they have at their companies that they think might be a might be a match for our employees.
And there’s more than money in it for prospective employers, says John Challenger, CEO of global outplacement firm, Challenger Gray and Christmas:
John Challenger: It says to a hiring company, I can take a look at this person, it’s not going to cost me anything, and if it’s everything I thought it was going to be, then we can go ahead and turn it into a full-time job.
Even though it might make things more competitive for its ex-employees, The Martin Agency says it hopes other companies will follow its lead.
I’m Stacey Vanek-Smith for Marketplace.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.