Letting employees go is never easy, but it’s sometimes necessary for your business's long-term health. In these situations, outplacement services are worth it. Partnering with the right provider ensures that exiting employees receive the support they need, reflecting your organization’s commitment to ethical treatment. This approach not only protects your brand reputation but also positively impacts future recruitment efforts and delivers a strong return on investment. By investing in outplacement services, you’re investing in your company’s long-term success.
What are Outplacement Services?
Outplacement services provide professional career transition assistance to help departing employees find new jobs. Services offered may include:
One-on-one career coaching
Resume and cover letter assistance
Interview prep and mock interviews
Networking guidance
Job search strategy development
Skills assessments
Outplacement services range from self-guided online programs to high-touch personalized coaching. They can be delivered virtually or in-person through an outplacement firm.
Why Outplacement Services Are Worth It
While outplacement services require an upfront investment, they can provide significant ROI and value-add for your organization. Benefits include:
Protecting Your Employer Brand
How exiting employees describe their termination experience can make or break your employer brand. With outplacement support, employees are more likely to speak positively about your organization even after leaving. This safeguards your brand and talent pipeline.
Minimizing Litigation Risk
Providing career transition assistance demonstrates goodwill and caring for exiting employees’ futures. This reduces the risk of potential lawsuits over termination terms or non-compete agreements.
Future Recruiting and Hiring
With a good outplacement experience, former employees may connect you with new candidates or even return as boomerang hires. Outplacement shows you invest in talent, which helps attract applicants.
Productivity Lift
Announcing layoffs without support can tank morale and productivity for remaining employees concerned for their own jobs. Outplacement signals exiting employees are being cared for, reducing uncertainty.
Accelerating Transition
Outplacement speeds up an employee’s transition by helping them land new jobs faster. This minimizes the costs associated with temporary loss of productivity between roles.
Find the Right Balance
Many companies are mindful of outplacement costs and want to support departing employees while also minimizing expenses. Striking the right balance is crucial. Here are some best practices to help you do so:
Offer Outplacement Support that Matches the Employee’s Level
Tailor the level of outplacement services to the employee’s role. While a standard approach may be sufficient for some, higher-level Directors and VPs often require more personalized, high-touch executive outplacement services. Align the program level with the employee's position to provide appropriate support.
Don’t Pay for Services that Your Employees Don’t Need
With 77% of jobs being filled through platforms like LinkedIn and Indeed, you might not need to invest in a custom job portal through an outplacement provider. Additionally, with AI-supported tools now available for resume building and job tracking, these may no longer be necessary in your outplacement package. Focus on offering impactful services such as interview preparation, networking strategies, personal branding, career exploration, and job targeting. Choose a firm that can customize its offerings to meet your specific needs.
Track Metrics like Rehiring Rates
Monitor key metrics before, during, and after the implementation of outplacement programs to assess their effectiveness. This data can help you quantify the results and make informed decisions.
Don’t Forget the Employee Experience
While balancing costs and services is important, never lose sight of the employee experience. A positive, supportive outplacement process can leave a lasting impression and reflect well on your company’s commitment to its people, even during difficult transitions.
Final Words
Letting employees go is never easy, but it’s sometimes necessary for the health of your business. When these situations arise, partnering with the right outplacement service is crucial. Providing comprehensive support to exiting employees not only demonstrates your organization’s commitment to doing the right thing but also leaves a lasting positive impact on your brand. By handling layoffs with care and offering effective outplacement services, you not only protect your reputation but also enhance future recruitment efforts and see a meaningful return on investment. Investing in your departing employees is an investment in your company’s long-term success.
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