Outplacement used to be a service offered by employers to smooth the exit of key employees from the business. But now many organisations are using it in a more strategic way to ensure they develop the right talent and that employees emerge stronger from major changes.
Outplacement Services are simply career coaching services funded by the employer to assist ex-employees in finding a new job. It can be immensely valuable for people who are facing involuntary unemployment to have objective, professional support to help them to come to terms with their situation and prepare themselves for a productive and satisfying future
In response to the current economic climate, many organisations are making executive team members redundant. Executives can face a highly competitive marketplace full of competing candidates, limited opportunities and an employer’s market, and a job search lasting may months. Offering senior managers outplacement support tailored to their needs can ensure their career transition is successful.
Executives need to respond to the reality that their exact role is no longer available or in short supply due to the competition. They may have to change sectors or in some cases even professions. This requires reflection to redefine careers and to identify what success looks like.
The purpose of providing outplacement is two-fold:
- It’s a gesture designed to show the company cares about the employee’s future.
- It shortens the time the person is unemployed – which can save the company money.
Outplacement Services help with CVs, cover letter, interview preparation and many other aspects of the job hunt, and usually offer one-on-one sessions with career coaches to discuss career goals and job search techniques.
Today’s businesses operate in a more challenging, competitive and fast-paced environment than ever before. In an increasingly global and digital marketplace. Restructuring is not just about redundancies. It is about keeping the right people in the right place and upskilling the workforce to support the business road map.
It’s a complicated and delicate process that if not handled correctly, can do major damage not only to a company’s culture, but also its brand and reputation. It can be adapted to suit a business’ needs and the workforce dynamic.
People are your most important asset, even when they are leaving your business. Giving them the opportunity to move on physically and mentally, with new networks and a positive sense of the company they are leaving, is a no-brainer.
Everyone– employers and employees alike – should benefit from effective outplacement. The coaching provided offers space for individuals to acknowledge and share their feelings in a safe environment where they are understood and fully supported.
By prioritising outplacement and providing career conversations and support, companies can seamlessly transition employees to new roles and avoid the loss of productivity, engagement, and loyalty that can have a real impact on the remaining workforce.