I've heard a couple of their local "consultants" (er..definition used loosely) have left for better opportunities since they were given the 6 month Intel contract.
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My outplacement firm offers a similar service to LHH however we help older workers transition to owning a franchise business as alternative career path. We do this because of the "gray wall" problem faced by older workers. Skyrocketing healthcare costs and a perpetually weak economy means employers are trying to shift more risk/cost to the employee. At a certain age we just represent too big a liability and taking a different path becomes the only viable option to maintain income.
You should request your HR department offer alternatives to LHH given the economic reality of the current job market.
The very first meeting I had, they recommended I take out the URL to my portfolio. That seemed very odd since it's more valuable than a resume in my field.
I asked why she gave this advice and she told me she thought it was a second email address.
LHH has been a huge waste of time. I wish my company had let me choose a training program. For what LHH makes to do nothing and send me podcasts links that they've googled (I'm serious), I could get certified in a top 10 program. It's really depressing. I wish I had known to try to negotiate this during downloadbesttorrentblog.ru.
LHH won't get you a job. I would say what i got from them was mostly psychological benefits. I went to their sessions for only ex-intel employees and it felt good hanging out with people I knew and also that could relate to what I was experiencing internally. The linkedin info was new to me so I would give that a plus. The softskills software looks good. I will start taking some minor certifications by studying their courses. But do not expect them to hold your hand and get you the job you want.
Nope, complete and total waste of time, they're USELESS! (And annoying)
I stopped by my local Fidelity and did the paperwork, getting almost 200K.
Thanks fellow Intel employees for BK's wonderful package; 56 weeks salary, two years health care,
I would have never left but now have offers from every major intel competitor and salary range from 10% below my total comp last year to 50% more, what a bountiful set of options.
Recommendation to those still there: Get out and look before the ship sinks, BK is totally BKing it!
What 1ibj says is correct. The lag isn't from ineptness, it's just how long these things take for various behind the scenes things.
Found this on the web (which is basically what my Fidelity rep told me):
It typically takes between 4 and 12 weeks to process a retirement fund pay-out (21 business days at 10X Investments), from the time your last contribution is invested or the required instruction forms are received by the administrator (whichever is the later).
Yes you do this by taking lump sum snd rolling it over into an ira. This has 0 tax liability snd you get thr lock. Fidelity will do this for you talk to them.
I have a question for those who have decided (or researched) taking the lump sum pension payment.
First - I do not want to have any more taxable income in 2016. I want any tax liability to come in 2017. That being said, I would also like to "lock in" at the current interest rates to avoid the risk of a reduced lump sum in the future,
Is there a mechanism for locking in now, yet still receiving the payment in 2017 and avoiding any more 2016 income?
. That would be a pretty weird question to ask in an interview in the first place. And in the second place, I don't think any candidate would be stupid enough to say they are a scam during an interview! I found them marginally useful but then I've not gotten much out of prior placement/career coaching firms either (from prior employers/layoffs). You just can't beat networking and skills for a new job, no matter how much you tripwire the resume with keywords or polish up the LinkedIn to achieve All Star status (which I did). So far, LHH hasn't had any answers for what to do about age discrimination though. Not their wheelhouse; wasn't really expecting it. They said something about disguising my resume/LinkedIn wrt age and then suggested I consider post-retirement 'active' options like volunteering. Huh.
Is the lag in pension payment largely on fidelity side or intel side? Taking a lump sum is a good option you can invest it another annuity if you like. The intel annuity has better return rate but they have 30% invested in hedge funds same as diversified defaukt portfolio and for pension fund you can use lesser risk
. Re: pension payout time lags. Yes, I know. They were quite upfront both on the website and on the phone about the time lag getting the pension payout. I am waiting patiently. I actually struggled over whether I should take it as an annuity or just take the lump sum. Hope I made the right decision. I am hoping to take the lump sum to invest for awhile in an individual IRA and then pay off mortgage and HELOC eventually, which will greatly reduce my monthly costs of living and make SS almost feasible.
I'm the type of person who believes you can always learn something from anyone and any situation, and I thrive on working with like-minded people. So I approached the opportunity to utilize LHH with openness and gratitude. I utilized them to help with revising my resume and my LinkedIn profile, and found much of the advice to be useful.
To cut to the chase - landed my new job about 3 weeks after revising my resume and profile. And now I'm in the position to hire for my new team. You can bet I'll ask any Intel candidates how they approached their job search and will give considerable weight to their answers. Answers such as a "I thought LHH was a scam/they had nothing to offer me" will be given a swift no thank you.
agree with the comments below -- in terms of helpful advice i would rate fidellity as most practical- LHH seems more like they are reporting back to BK and the gang with indicators basically a tent to cover any gaps in BK's great leadership and initiatives with ACT if ever questioned - are clueless walk you thru the resume and linked in and insist /feedback most on the fonts-- similar to what i faced with higher ups in FSM very picky on the fonts and ppt templates vs the message. AYCO is abs. a waste of time - which we do have a lot of but still not worth it.
They are a mixed bag. I am sure they aren't cheap, but I would never hire them. Probably like Bain to BK, LOL.
They told me to dumb down resume and hide my age etc. but funny all my interviews came with first resume, pretty much showed they had no clue.
Pension payout takes a bit of time . What date did you make your date effective? It takes something like 6-8 wks after that date. You don't get it on that date. I've posted about our pension on this site in several posts. You could try Googling for layoff.com intel pension to see if you can find them.
So far have only used their resume building and LinkedIN profiles services. Their people are all contract, not real employees. They are what I call 'robo consultants." On the couple of occasions when I've asked targeted questions that deviate from the script, they had no answers. They all seem to be nice people but don't count on them to be miracle workers. AYCO has been useless and actually has given out misinfo. I also have trouble ever reaching them when I have a question so gave up. In fact, I've given up asking questions or expecting help, in general. What will be will be. I'm still awaiting the pension payout.
Lee hecht harrison are ok to get advice on building resume and linkedin profile if you are planning to look for a job after a long time. They have a lot of redundant courses you can skip so they are semi useful. I was not aware they offered retirement advice. For retirement advice and financial planning fidelity and ayco are in business. Of the two fidelity is the better one. Ayco is a completely redundant service and the value they add over fideluty is unclear. They have a bunch od advisors who cant help you moving accounts; you need fidelity for that. Rest of their services are a fluff. I ntel should fore them and save money
They keep on emailing and calling me since May to sign up for their services. I told them I plan to retire and then they switched to offer retirement advice. I also wonder whether their advice is good or useful, I don't want to disclose my personal and financial information unnecessarily. And, may be I'm paranoid, after giving them the info I'm concerned they may try to sell me other services.