Lengthy job hunts, tax tips, severance as leverage

THE 36-WEEK JOB HUNT: Being out of a job for an extended period no longer carries the stigma it once did for top managers, according to a new survey.

A top manager can remain unemployed for nine months without it hurting his or her career, according to telephone interviews with 150 senior executives by Robert Half Management Resources.

Most hiring managers recognize the economy has sidelined many capable and experienced people, said Paul McDonald, executive director for the unit of staffing company Robert Half International Inc.

Robert Half gives these tips for the senior-level job-seeker:

_ Be flexible. You may not find a job that is an exact match with the one you held before. Explore ways to apply your expertise in new areas and highlight your transferable skills.

_ Network effectively. Make sure your network includes people at varying experience levels as well as those outside your industry.

_ Know the company. The more you can uncover about a business’ strengths and weaknesses as well as its corporate culture, the better you can tailor your application materials to the firm’s exact needs.

_ Consider relocating. Be open to opportunities in other cities or states, particularly if your skills are highly specialized or few job openings exist locally.

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CLOCK TICKING ON TAXES: The Golden Gate City takes the gold this year when it comes to tax procrastinators.

Intuit Inc. tallied online tax preparations filed with its TurboTax software between April 13 and 17 last year, and said San Francisco was the American city with the most taxpayers waiting until the deadline before filing. Houston slipped to second from the top spot, followed by New York, Chicago and San Diego.

TurboTax and the Association of Chartered Certified Accountants offer these tax-filing tips:

_ Even if you’re running out of time to file, you can still save money. Taxpayers have until the April 15 deadline to contribute to an individual retirement account.

_ Don’t forget charitable contributions made in 2008. Even mileage to and from volunteering is deductible.

_ You may be able to deduct work-search related expenses. Costs of attending interviews, publishing your resume and mailing as well as any counseling may qualify as deductions. To obtain the deductions you need to be looking for a job in the same field as before.

_ If you’ve lost your job and had to move for a new job, make sure you keep receipts and expense records. As long as you relocate more than 50 miles from your old home, you can take a deduction for the moving expenses.

_ E-file. Taxpayers can avoid the long lines at the post office and can get their refund back in as little as 8 days with direct deposit.

_ Not going to make the April 15 deadline? File for an extension. Taxpayers will get an extra 6 months to file. But remember, an extension to file isn’t an extension to pay taxes _ an unpaid amount can lead to penalties.

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SEVERANCE LEVERAGE: The recession of the early 2000’s may have taught employees valuable lessons about job security.

Executives are negotiating severance before they are hired and aren’t accepting the standard package, according to a recent study by human capital consulting company Lee Hecht Harrison.

Nearly 90 percent of top officers negotiated their severance last year, compared with 23 percent in 2001.

“Individuals are more savvy now, and companies are more flexible,” said Barbara Barra, executive vice president for field sales and operations. “When people think about separation benefits, it’s not just about the money but also health care coverage negotiations, career transition assistance, references and what the company will say about the departure.”

Meanwhile, companies have learned to use severance packages as a tool to lessen the risk of employee litigation. In 2001, 76 percent of companies required employees to sign a release in exchange for severance. In 2008, that number rose to 93 percent.

“Even though it’s tough economic times, employers are taking to heart how they treat people when they let them go,” said Rob Saam, senior vice president of Lee Hecht Harrison. “They want to keep a good relationship because these executives may go on to work for customers or vendors, or may even boomerang to work for the company again.”

Guideline Research surveyed 1,072 personnel executives through mail and e-mail. The study has a statistical margin of error of plus or minus 2.8 percent.