Benefits of Outplacement Services

Benefits of Outplacement Services

When you think about what outplacement services are, you probably want to know how they help your departing employees and safeguard your company. Employees who have been forced to leave their jobs are provided outplacement services. Due to cost-cutting efforts in reaction to the pandemic, the demand for these services has increased in 2020.

Keep these essential points in mind as you choose which outplacement services to include in your severance packages as you review your personnel requirements and long-term plans.

What are Outplacement Services?

Outplacement services, also known as career transition services, are coaching programs that assist laid-off people in finding new jobs more quickly. The company pays for these services, allowing the departing employee to get free career counseling.

Personal branding and mentoring are important aspects of excellent outplacement services. Expert job search coaches assist individuals in developing a solid branding plan to sell themselves online. They assist former workers in matching their efforts with the technologies and methods used by today’s recruiting managers, allowing them to maximize their efforts. Today, the services go well beyond resume preparation and job board access.

What are Outplacement Services for HR & Your Organization?

The decision to lay off staff has far-reaching implications for your company. Outplacement services aren’t simply for those who are leaving their jobs. They can also assist the HR department and those in charge of the layoffs. As you move through each phase of the personnel reduction, outplacement firms will accompany you.

The following are examples of outplacement services for your company:

  • Providing assistance to businesses in making layoff choices.
  • Assisting managers in informing staff of layoffs.
  • Providing support to remaining employees so that they may remain productive during the transition.

Benefits of Outplacement Services

A strong employer brand is essential for attracting the finest personnel, and it is more important than ever in this employment market. You may significantly decrease the negative influence on your social reputation by ensuring that your departing workers immediately focus on their careers rather than their displeasure at being let go. How? Employees who are angry about a layoff nowadays don’t only vent to their friends and relatives. They’re slamming you on social media, trashing you on Glassdoor, and wreaking havoc on your company’s reputation. And make no mistake: negative ratings and comments on social media count when it comes to attracting top personnel.

It creates security for survivors and preserves the culture

It’s not only about the workers who will be laid off. It’s also about the people who are left. Survivors of layoffs have a lot of worries as they fear whether they’ll be next. Knowing that their coworkers received assistance in obtaining new employment helps to alleviate some of their concerns. When people witness you doing the right thing for their friends and coworkers, it breeds loyalty.

Allow departing workers to begin using outplacement services while still at their positions, if feasible, during the period when they are most marketable. They are significantly more likely to remain eager ambassadors of their prior employer’s brand, promoting their firm online and among their peers, or at the very least remaining neutral, when their job ends. This isn’t possible in many circumstances. However, in these delicate situations, there is always the opportunity for high-touch offboarding.

Allow departing workers to begin using outplacement services while still at their employment, if feasible. They are significantly more likely to remain eager ambassadors of their prior employer’s brand, promoting their firm online and among their peers, or at the very least remaining neutral, once their job ends. This isn’t feasible in many cases. However, in these delicate situations, there is always an opportunity for high-touch offboarding.

Cost Of Outplacement

Outplacement services cost vary based on the company’s demands and the professional degree of the affected personnel. The number of impacted workers and the degree of services given to employees – such as coaching time, resume criticism vs resume writing, and the length of time services are accessible – are some of the factors that influence the cost.

Additional services and programs – such as career development and related programs for existing workers – and discounts are given by outplacement companies, which are typically dependent on volume, are also variables to consider. Flexible and customized outplacement services depending on a company’s demands are available from the proper outplacement services supplier.

The Future of Outplacement

The world of work, as well as the requirements of companies and people, is evolving at a breakneck pace. Providers of modern outplacement solutions are on the cutting edge of these shifts, with new ways to address tomorrow’s problems. Rather than focusing on what has worked in the past, these service providers understand what HR executives and the workers they represent require in order to manage organizational transformation with confidence, ease, and success.

Finding the Right Outplacement Partner

Part of finding the proper outplacement partner is up to you. Outplacement is a service provided by some companies to tick a box. Their primary concern is cost, and they are unconcerned if their departing staff does not use the service. There are a variety of low-cost and virtual coaching alternatives available to such companies.

In contrast, a rising number of businesses are realizing the value of preserving their employer brand. If your reputation is interfering with your ability to recruit the top talent in your sector, you have a problem that is a million times more serious than paying for outplacement. The decision-making process for these businesses is a little more difficult. For example, the outplacement partner’s ability to reach out to, connect with, and engage with departing workers becomes a critical component.

The proper outplacement partner will give customized services at an affordable price. Inquire about the coach-to-participant ratio. Coaching is only effective if you can communicate with your coach. Inquire about how coaches are chosen and taught. Inquire about how coaches are matched and compatibility is ensured. Inquire about face-to-face meetings. A face-to-face encounter might be beneficial if you want your departing employees to interact and establish a connection with their outplacement coach.

Inquire about the vendor’s dedication to innovation and the technology’s involvement in their solution. In recent years, there has been a noticeable increase in the use of software in outplacement solutions. Even artificial intelligence is making an appearance, but be wary of flashy promises that lack substance.

Finally, you must think about responsibility. Find out how the vendor will keep you updated on the development of the participants. What methods are used to track activity? What is the sponsor’s perspective?

There is a lot to think about at the end of the day. It would be a good idea to start a pilot program with a few potential companies. Even if you only want to utilize one vendor, there is no need to sign an exclusivity agreement. Every day, make your outplacement partner earn your business.

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