June 05, 2017/ News
You may be thinking, 'I've heard of placement, but I haven't heard of outplacement before'.
Outplacement, as the name suggests, are the support services offered to individuals exiting a business, either voluntarily or involuntarily, to assist them with the transitional period between work. It has been increasingly integrated into the HR policies of businesses since it not only helps keep employees happy but also contributes to safeguarding the company from reputational damage and expensive litigation.
Outplacement processes and procedures often involve assistance with building an effective resume, cover letter, job application and online profile, developing interview skills, advice on your available job options, development of a career path plan, one-on-one career coaching, and so on. The aim of Outplacement is to restore the confidence of the employee, through the refinement of their employable skills, and allow them to successfully re-enter the job market.
The period of time between leaving a job and entering a new role can be a very stressful experience, due to the instability of the situation. Outplacement is all about trying to alleviate some of the anxieties and uncertainty that the worker will experience during this period. Outplacement helps to ensure that the departing worker feels supported, valued, and more equipped to re-join the workforce as soon as possible.
Why Should Your Business Implement Outplacement?
Here are a few of the top reasons why integrating an Outplacement program would be beneficial for your company:
1) Builds Positive Relationships with Workers (Both Current & Departing)
Having Outplacement services and processes can help build and maintain strong relationships with not only the departing employee but also current employees. Outplacement programs help departing workers feel appreciated for their efforts and time while they were there, and that the company is genuinely concerned with helping them take the next step in their career. Also, the presence of an Outplacement program can help boost morale amongst current stuff, as they will be reassured that the company will treat them responsibly and endeavour to make their exit as smooth as possible when the time comes.
2) Bolsters Corporate Social Responsibility Efforts (CSR) and Creates A Positive Brand Reputation
Outplacement is a great way to improve the Corporate Social Responsibility profile of your business. Effective CSR efforts can be a great way for a company to set themselves apart in the market and gain competitive advantage.
Also, by having an Outplacement program, it will help to elevate the perception that stakeholders have of your company as it demonstrates that your employees are truly valued and taken care of, even when they depart from the company.
3) Protects Your Company Against Liabilities
Another benefit of integrating Outplacement services into your business is that it helps to reduce the risk of costly litigation and potential reputational damage caused by frustrated ex-employees. When an employee no longer has a job with a company tensions can often run high. By implementing an Outplacement program it will help to reduce instances of employees feeling wronged or becoming disgruntled, especially if their departure was involuntary, as there are formal procedures in place to make sure they feel supported throughout the transition.
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