Outplacement: Why Doing It Wrong Could Hurt Your Company
These days, a former employee has multiple outlets to express their dissatisfaction with a company after a layoff. Glassdoor.com is an example of where unhappy former employees can voice complaints about the way their layoff was handled. New hires or candidates may shy away from joining your company as a result.
Organizations strive to build reputations that attract talent and customers alike. Huge investments are made each year to define culture and values, and much time is spent implementing courses of action to make sure that employees are expressing these values each day. And with 51% of companies reporting a higher turnover rate in 2013 (according to OI Global Partners’ latest retention survey), quality outplacement programs are more important now than ever before.
You might be asking yourself, so what? What does this have to do with outplacement? Here are a few reasons why using QUALITY outplacement programs over other outplacement programs are vital to the overall success of your company. Remember, doing it wrong can hurt your company.
- Exited employees who do not move on stay on the unemployment list. An employee who didn’t receive a personalized outplacement program will take much longer to land in a new position versus one who did. This means they will stay on your unemployment list longer and the organization will see this reflected in the bottom line. An exited employee who doesn’t land quickly costs more money!
- Possible legal implications. A former employee with nothing but time on their hands and an axe to grind will wreak havoc on your company. This is why a quality outplacement program is so important. Make sure that your company offers an outplacement program that is personalized and truly helps move a former employee through the job-search process. This helps an exited employee focus their energy on finding their next career opportunity and, most importantly, helps keep them in a positive mindset. Look for programs that offer individualized executive coaching. This strengthens accountability and gives each person a point of contact when they need help.
- Builds trust with current and future employees. Downsizing can be detrimental to remaining employees as well. By showing that your organization is willing to invest in exited employees and “does the right thing” and that it is dedicated to helping them find their next career opportunity, the organization is establishing trust with current employees while also avoiding the hemorrhaging of current talent. Ultimately, this strengthens the culture of the organization and saves time and money that would be spent on replacing talent that might jump ship.
We’d like to hear from you. Tell us, what would you add to this list?
If your company needs to implement quality outplacement programs, contact OI Global Partners today.
Jessica is vice president of OI Global Partners – Innovative Career Consulting in Denver. She joins the ICC team as a Georgia native with deep roots in Colorado. As a graduate of the University of Georgia, she is a highly motivated, results-oriented professional with experience in recruiting, staff training and leadership. Prior to joining ICC, Jessica’s background in the fields of hospitality, banking and mortgage has allowed her to develop strong skills in the areas of company strategy, direction and communication. She brings excellent interpersonal skills, creative thought and a drive to succeed to the team. Jessica serves as a co-chair with the Colorado Human Resource Association.