We Explain What Outplacement Services Can Offer
In the midst of the current economic crisis, many companies find themselves in the unfortunate position of having to let employees go.
Outplacement support can help your exiting employees effectively navigate their career transitions. It will also demonstrate that you have the utmost concern for their welfare in a practical way.
As part of an outplacement package, career coaches help your people to manage the emotional and practical realities of being made redundant.
They also equip departing employees for success in their job search by providing practical tools such as a professionally written CV, optimised LinkedIn profile and interview preparation.
In addition to helping your exiting employees succeed in this competitive job market, hiring an outplacement service will reap numerous benefits for your organisation.
By partnering with an outplacement firm, you will be able to achieve the following:
1) Show affected employees that you care, resulting in a positive outlook
By leveraging an outplacement firm to provide career coaching and job search and interview preparation assistance to your former employees, you will leave them with a positive impression of your company upon departure.
A job loss can catch employees off guard, leaving them to grapple with not only a personal sense of loss that impacts confidence and self-esteem but also financial difficulties.
As an employer, you can show departing employees that whilst your company was forced to make a difficult decision, you will be there to provide support and guidance.
2) Boost morale with remaining employees
Outplacement support for exiting employees also leaves a positive impression with those who stay with the company.
When there are redundancies within your organisation, remaining employees are often left wondering whether they might be next.
They will hear that their former colleagues have been treated well, and as a result, your HR team may find that morale amongst the remaining team members follows suit, improving both attitude and productivity.
3) Reduce risk of litigation
Outplacement can serve as liability protection against potential wrongful dismissal claims.
When former employees feel that they were well cared for and received the support they needed in securing a new role, they will be much less likely to take legal action.
4) Maintain brand reputation
Job seekers place significant weight on an organisation's brand reputation when deciding whether to apply for or accept a new role.
Your past and current employees naturally speak of their experiences with your company, serving as a source of PR for your firm – be it good or bad.
Outplacement is an investment into your employer brand, which may in turn impact your company’s recruitment efforts in attracting and retaining the best talent in the market moving forward.
5) Save costs
Allocating funds to an outplacement budget can actually reap financial returns for your company.
When departing employees receive high-quality career transition support through an outplacement programme, they consistently secure a new job more quickly than they would otherwise.
If individuals secure a new job within a certain period of time, you may be able to minimise the redundancy pay your company is liable for, depending on the terms of your redundancy package.
While it may seem preferable to avoid the hassle and expense of hiring an outplacement firm when dealing with an upcoming redundancy process, supporting your employees through a tough situation can minimise losses both for them and for your company.
CV Pilots offers outplacement services that help your people secure new roles via expert CV writing, personal branding, job application support and interview preparation.
Click here to learn more about our outplacement offerings for companies.