When a company is forced to cut back on expenses due to tough economic times, the leaders will do whatever it takes to keep employees on payroll. Unfortunately, this is not a perfect world, and keeping every employee on board is not always an option.
In cases like this, the company will often try to alleviate the situation by offering a severance package of some sort. But the best thing an employer can do for terminated employees is to start researching top outplacement firms. Outplacement services are the ultimate way to ensure that your ex-workers find work and have barely any lapse in paychecks.
Outplacement provides valuable skills and life lessons
The services provided by an outplacement agency are offered as soon as someone is laid off. This means that support is provided in a timely manner so that the employee can find a job (usually within a matter of weeks). Wondering how this is possible? Well, outplacement professionals provide all the necessary tools for a successful job search.
This includes everything from resume and cover letter support to interview coaching. There is even an hour-long mock interview session provided by top-rated outplacement companies. But the best part is that your employees won’t just be handed a new resume or given lines to rehearse for an upcoming interview. They’ll actually learn the skills involved to succeed.
It shows that you (the employer) truly care
One of the worst feelings for employers everywhere is having to call someone into the office to fire that person. Sometimes there is no explanation, other than the fact that you can no longer afford to keep this employee on staff. This blow can be lessened, however, when you don’t just send this person away with no potential job prospects. Providing outplacement shows that you really care, and chances are you probably do.
Top outplacement firms have high success rates
The best outplacement agencies have an extremely high success rate. Success of outplacement is measured by how many ex-employees actually find another position and how long it takes to get there. Not only do they have success in helping with actually landing a job, but it tends to be a job that is actually wanted and not just a last resort.
Regardless, finding a job can take some time especially when there is a poor economical state. For this reason, high-quality outplacement will provide a designated support period. Budget-friendly packages will provide support for at least one month and more expensive packages will offer coverage for 3 months. This is plenty of time to find a new job, even when the economy is in the gutter.
Your employees will get 1-on-1 attention
This is only the case for the best outplacement agencies. If you decide to spend a bit more on your employees’ wellbeing, they will be given individualized attention during coaching sessions. Cheaper packages might offer group sessions or do everything over the phone, so keep this in mind when you’re deciding on the best outplacement service.