While the majority of businesses hope to retain their employees for as long as possible, there are occasions when they must make the tough decisions of laying off employees. At this point, relationships that have been solidly built over years can transform into something unpleasant for all parties involved. However, there is a strategy that can be implemented to ensure that this experience is a positive one. This strategy is known as Outplacement.
What is Outplacement?
If the goal of the onboarding process exists to prepare the integration of new employees, the offboarding process exists to aid the transition of departing employees. Career transition services also referred to as outplacement, are among the things that can be provided during this transition process. The goal is to help them make a smoother transition into their position or industry.
Outplacement may be offered as part of a severance package for recently laid-off workers. It can take various forms, such as career training, job interview training, and others. Implementation can also be adjusted according to company policy, whether carried out online or offline, in a group or on an individual basis, and so on.
It is important to realize that outplacement services are meant to assist former workers in developing the skills needed to overcome the obstacles of finding a new job. However, the company is not responsible for finding and providing said new jobs for them.
Benefits of Outplacement for Companies
Boost reputation and reduce risk
Action speaks louder than words. Implementing outplacement can be proof to your employees that your company genuinely cares about them and believe they are an important factor in the organization. This can improve your reputation, which will in turn attract more candidates in the future. Additionally, the likelihood of maintaining high-potential employees for longer will increase because of this added value.
On the other hand, it’s also critical to keep in mind that layoffs are overall a bad experience for employees, and can leave them feeling upset, let down, and frustrated. In this heightened emotional state, it is not out of the realm of possibility that infractions could occur that could harm the business. Outplacement is a way to avoid this from happening. Recognizing that the organization is offering assistance can help employees become better prepared to seek out new opportunities.
Increase employee morale
There’s a risk that employee termination can negatively impact existing employees. Moreover, the issue that the economy is weakening, as has been widely reported in recent times, has led to increasing concerns about job security and stability. These concerns can influence performance and lower productivity. Nevertheless, knowing that the company is committed to supporting them throughout this challenging period, they can feel more relieved and maintain their motivation to deliver top-notch performance.
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Investing money and time into employees who are leaving the company may not seem worth it, however, providing outplacement services can provide more value to your company leading to advantages that are worth your consideration.
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