Outplacement is Good for Your Business
A strong employer brand is critical to attracting the best talent, and in this job market, it means more than ever. Studies show that nearly 70% of employees share their poor layoff experience with others. By ensuring that your exiting employees are immediately focusing on their careers, rather than their anxiety and frustrations at being let go, you’ll substantially reduce the adverse impact on your social reputation. Employees, future job candidates and customers are watching. They are sharing their stories on social media and other outlets like Glassdoor and job boards. And make no mistake about it, when you’re trying to attract top talent, those bad reviews and comments on social media matter. The right approach to outplacement significantly reduces reputational fallout.
Internal Motivation is Important for Remaining Employees
It’s not just about the employees you’re laying off. It’s about the ones who remain, too. Layoffs cause a lot of anxiety among survivors who wonder if they’re next. Knowing their colleagues got help finding new jobs does a lot to calm those fears. And it creates loyalty, too, when they see you doing right by their friends and colleagues. When advanced notice is possible, allow exiting employees to begin using outplacement services while still at their jobs. They are far better prepared to hit the ground running when their employment ends and more likely to remain willing ambassadors of their previous employer’s brand, endorsing their company online and among their peers, or at least standing neutral. There is always room for high-touch handling of off-boarding in these sensitive situations.
There is a Direct Link to Your Employment Brand
Companies need to ask themselves why outplacement is important to them. What are they trying to achieve? Is the intended result to simply have the ability to ease the consciences of those who hold the reins so they do not have to feel bad about downsizing events? Or, is the intention of the company to provide real services that genuinely reach the core of what it means to a professional, productive human being to unexpectedly lose their position in the company – and in their minds, their position in the world? Do you really want to understand the individual factors that these human beings have — financial, marital, family, background — that will help or hinder them from finding their next career, or is it enough to pass on some links to an online library of resources and move on?
The Right Outplacement Services Partner
The right outplacement partner for you depends on what you are trying to accomplish with the experience. We like to use the term ON PURPOSE. Some organizations offer outplacement to check a box. Their focus is on cost and they don’t mind when their exiting employees don’t use the service. For those organizations, there are a number of low-cost and virtual coaching options. Conversely, a growing number of organizations recognize the impact on employer brand preservation. If your company image inhibits your ability to attract and retain the best talent, you have a problem that is significantly larger than any cost associated with outplacement services. For these companies, the decision process is a little more complicated. For instance, the effectiveness of the outplacement partner’s ability to reach out, connect and engage with exiting employees becomes an important factor.The hands-on coaching and supporting technology and other resources drive a rewarding experience for exiting employees.
The right outplacement partner will provide personalized services at a great value. Ask about the ratio of participants to coaches. Coaching is only useful if you can gain access to your coach. Ask how coaches are selected and trained. Ask about the process for matching coaches and ensuring compatibility. Ask if face-to-face meetings are possible. Ask if they provide on-boarding coaching for individuals once they find a new job. Understand the reporting and feedback your outplacement partner shares with the organization. Quarterly progress meetings are a key element with high-quality outplacement providers.
Check if the majority of services are delivered virtually through online training sessions with limited contact to a coach or time restrictions. Make certain the service is not time-based as every person moves at a different pace. Ask about the vendor’s commitment to innovation and ask about the role that technology plays in their solution. The increasing role of software in outplacement solutions is a noteworthy trend of late.
Benefits of LAK Group Outplacement
- Stronger brand reputation. Layoffs are a vulnerable time for a company’s brand. Exiting employees, if they feel they’ve been treated poorly, can publicly share their opinions about your company on Glassdoor and social media. Remember that nearly 70% of people choose to share their poor layoff experiences with others. If the public hears that you have provided a soft landing for exiting employees, they will be more likely to retain a higher opinion of your organization.
- Attract and retain talent and customers. Most employer branding research shows that over 60% of consumers have stopped purchasing a brand after hearing news of that company’s poor employee treatment. Additionally, retention of talent becomes harder once the reputation as an employer is damaged. Protecting your brand image with modern, high employee engagement outplacement services puts you in a better position as an employer of choice and attractive alternative for customers.
- Company culture that makes you an employer of choice. During and after a workforce reduction or simply exiting an employee, it is critical for companies to foster a positive company culture to preserve the productivity of the employees who remain. If departing employees are able to land new jobs through an effective outplacement program and are treated to a positive experience, remaining employees are likely to conclude that they work for a purposed-based company that truly cares about its people.
If you have questions regarding career coaching and outplacement services, the team at LAK Group is happy to talk about this valuable service, an inspirational client experience and why you should offer a more modern, coaching alternative to your outgoing employees.