Outplacement support provides companies key advantages even in times of strong economic growth, as it benefits not just departing employees but also the companies providing the service throughout every stage of the employment cycle. When a company implements outplacement solutions, they can attract new hires and retain key talent while providing exiting employees with a positive impression of their former employer.
Even when redundancies are the main reason for investing in outplacement services, businesses should put this employee programme in place long before their employees leave date. If you wait until a reduction in force is imminent before implementing outplacement services, this causes unnecessary scrambling during an already stressful time. Economic downturns can occur unexpectedly, and forward-thinking companies know to plan for the inevitable, which is why outplacement is vital to ensure any employees you let go are given the best chance of finding another job while also retaining the company’s brand reputation.
What Is Outplacement?
An employee using an outplacement service has typically received news of an impending redundancy and is, therefore, in need of guidance to help them transition into a new career. Outplacement solutions are provided by respectable organisations, such as Randstad RiseSmart, that aim to assist exiting employees by offering the necessary support to re-orient themselves in the job market. Usually provided by an independent third party in partnership with your business, which can be used by individual employees or tailored to work for large groups.
Why Businesses Should Invest In Outplacement
As mentioned, outplacement is typically used by employees who have been made redundant, which is the compulsory or voluntary dismissal of employees in a business, and this is often caused by a need to scale back due to a substantial loss of business and revenue. If your business is utilising outplacement services, then you can be sure that your brand reputation will be more trusted and higher than otherwise, as handling outgoing redundancies poorly will damage brand image, which could lead to a decrease of future talent looking for employment with you. When you implement employee programmes that show you care for your workforce and want them to succeed whether they are still employed with you or not, it improves your brand image and encourages higher volumes of talent to apply for roles, which is why every business should invest in outplacement solutions.
Stay Ahead Of Market Trends
There are many reasons why outplacement can benefit exiting employees, but the main reason the service is beneficial is that it is ahead of the latest market trends. A key perk is that it preps employees for the journey ahead, rather than just letting them pack up and jump into the deep end of the job market without support. While employees will have been trained and coached throughout their current job post, there will have also been many technological and industry advancements outside of your company that they may not be ready to face. Outplacement solutions provide the necessary direction to ensure they’re up to date on the latest trends and updates in the industry, which means they won’t be at a disadvantage in their job search.
Outplacement offers tangible tools for exiting employees’ job search, and some providers let employees that have been made redundant use office spaces. These office spaces allow employees to increase the effectiveness of their job search while also having the opportunity to train themselves for future employment. This provides a more fluid career transition, as the ability to utilise office space gives the ideal environment to prevent a lapse in productivity and avoid getting rusty during their employment search. Outplacement schemes can also help employees facing redundancy with networking events as this can put employees in touch with companies that are looking for people with their skills and expertise.
Speeding Up Processes
Employees who are offered outplacement services by their company typically resettle in new companies faster than those who are not provided with the service. Outplacement is more effective as it provides staff with as much information as possible, communicating what they need to know about the logistics, training, future opportunities, and financial guidance, as well as anything else that they may need help with. As a result of the extensive information, it takes a lot of the redundancy stress off of the exiting employees’ shoulders, which empowers them rather than leaving them feeling demoralised and demotivated.
Assistance With Redundancy
A beneficial aspect of outplacement is that it can provide managers with the support and coaching they need to ensure the redundancy process is smooth from the moment the manager sit down with employees. Although the redundancy process is the responsibility of many parties such as the HR and recruitment teams, the managers are the ones that typically deliver the news and, as such, need to have the relevant training in place on how to not only deliver the news but how to help their employees following redundancy.