Outplacement Services Becoming A Key Area Of Investment For Businesses

Outplacement Services Becoming A Key Area Of Investment For BusinessesThe global corporate sector has become very dynamic in nature in current times. Industry and market trends vary frequently which results in certain immediate business remodeling in terms of operations and workforce. In certain cases, in order to cut down unwanted costs or to terminate certain business wing, a part of the workforce is laid off to support the company. But it is a very strategic yet difficult decision to take for the management. In certain cases it has been observed that employees who have been associated with the company for a pretty long time has been terminated due to certain business requirement. Outplacement services forms a vital tool for handling such scenarios. It refers to the assistance provided to the terminated employees in terms of career transition by counseling professionals. It has many benefits as mentioned below.

  • From a company perspective, it primarily helps in protecting the brand image in the market. Sudden layoffs send out a negative message in terms of financial health as well as reputation. Outplacement services prevent such notions from spreading.
  • The company which is currently cutting down on workforce due to some reason may need recruitment after some time. Such services help in creating assurance for the new candidates.
  • Some people have the tendency to jump the ship in case of slightest doubts regarding the company‚Äôs standpoint. Existing employees can be reassured through this service in order to minimize the panic scenario created due to the layoffs.
  • Lastly, it helps in minimizing the lawsuit from the employee end. It has to be kept in mind that the layoffs in such cases are not due to productivity issues but as a result of business need. Hence, outplacement services help in reducing such situations.

However with all these benefits, there are certain pointers that need to be followed while implementing such service.

  • Initially a thorough strategic research should be done by doing preliminary discussions with a few service providers in order to understand what would best suit the purpose of the company. The planning should be done accordingly.
  • Getting the word out to the employees is the next big step towards the situation. The information structure should include the layoff message along with the service introduction and its possible benefits.
  • The duration and the communication channel should be planned beforehand regarding the sessions and the services to be provided by the third party.
  • The information regarding the firm which will provide the service to the employee should be communicated clearly along with the date on which they can interact with the firm.

Mass layoffs due to business needs are one of the toughest scenarios to handle. It becomes more complicated with people who have been associated with the company for a long time and have grown a sense of brand loyalty. With outplacement services, this scenario can be effectively handled while securing the brand image in the long run.

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