I have been laid off twice.
Lucky for me I had the guidance and expertise of an Outplacement coach providing a set of services along with helping me through the emotions and process. The value of the support I received far outweighs any cost my previous employers paid.
Now more than ever company leaders are facing difficult, “gut-wrenching” decisions regarding their employees. Furloughs? Layoffs? Or not? It is important to not only make the right decisions for the business but just as important is to provide the right support to impacted employees.
The value of Outplacement (or Career Transition) Services to an employer is well documented and should always be considered in an effort to:
- Minimize potential litigation
- Preserve your employment brand
- Gain tax benefits
Yes, these are huge benefits but more importantly it is just the right thing to do and is expected by today’s employees.
The world and economic landscapes have changed drastically, and the market has been flooded with millions of individuals now looking for jobs. Entire industries have significantly scaled back hiring and/or completely shut hiring down while others seem to have evaporated for the time being.
The process for job search has changed as well, demanding new approaches. Even for someone who recently experienced a job search it is now a very different environment.
Over the past two months, I have spoken with hundreds of individuals who are facing their job search without support or guidance after being laid off. In other words, zero outplacement support provided by their former employers. Not just “mom and pop” employers, but Fortune 500 employers, as well.
Most individuals had been with the same employer 10+ years. Most have not written (or updated) a resume in years. Most have not interviewed in years. And sadly, most without a clue on where or how to start their job search.
It is easy to view the cost of providing Outplacement from an employer’s perspective as an expense during this crisis. However, the value and impact of Outplacement Service to anyone who faces their employment search alone are obvious. With the multitude of providers with customizable service offerings and flexible fee structures, more and more companies are now seeing it as an investment rather than an expense.
Doing the research and contracting with an affordable and reputable provider is not only the smart thing but the right thing for your former employees and your company.