With the up and down nature of the economy, we can’t be that surprised when big businesses need to make company-wide layoffs. It is unfortunate, but it is just the reality that businesses face. Just like you don’t want to be fired, your boss does not enjoy firing you. It isn’t a fun experience for anyone but it is just the reality.
One thing a company can do to make the firing and layoff process less horrific is to invest in outplacement services. Typically a company offers a severance package to terminated employees, but sometimes they also help to prepare you for the job hunt. This is called outplacement, and here’s what you should know about it.
What do outplacement services provide?
First and foremost, outplacement includes career counseling and advisement services. They also offer tips on the job hunt and how to find a job as effectively as possible. Depending on how long you worked for your previous company, you might not be familiar with current job searching techniques. An outplacement service will help you learn these techniques and hopefully land a job as soon as possible.
These services will also help you with updating your resume and writing a cover letter. Depending on the outplacement agency your company has invested in, there might be some additional perks. Here’s what they are:
- Providing job leads
- Follow-up counseling and advice
- Interview coaching
- Job search and career transition group training
- Online interactive services (that can be completed from home)
Why should your company invest in outplacement?
The main benefit for a company to invest in outplacement services is to help their terminated employees find work as quickly and effectively as possible. As we said before, the company is not maliciously firing you (in most cases); they truly want to see you succeed. Providing outplacement services is one of the best ways to accomplish that.
Another benefit for an employer to invest in outplacement is to protect the company’s reputation. When big layoffs happen, chances are your employees won’t be happy about it. This is a way to not only help them out, but also appease them and allow them to still see you in a positive light.
All in all, an employer can utilize outplacement services as a way to bridge the gap between unemployment and landing the next job offer. Finding an agency that offers everything from resume building to interview coaching is essential for helping your terminated employees.
Are there any potential drawbacks to hiring an outplacement service?
The only major drawback of investing in outplacement is that the representatives can’t always provide one-on-one attention. This is especially true if your company recently made a big layoff – which companies are often required to do. If you have to let go of 30 people, chances are they won’t all receive individual attention from the outplacement experts.
Always be sure to do your research before investing in an outplacement firm. Find one with positive reviews and testimonials from both employers and employees.