One of the most trending programs undertaken by the HR of various companies around the world is outplacement. Earlier when the concept was introduced, it had only been adopted by big corporations for their senior executives. With time and research, it was noted that offering outplacement services to employees increased productivity and satisfaction. Due to this reason, more and more people started to offer outplacement. It has now become a trend that is being adopted all over the world.
Before you begin your search for executive outplacement firms, you need to know jot down the reasons why you are hiring the firm. This will help you cover your outplacement objectives which will serve as a guideline for the company; they will then work accordingly.
Some of the reasons for hiring an outplacement firm are below:
Size does not matter, employee satisfaction does
Whether your company is large with over a 100 employees, or a small one with employees below 100, you should consider offering outplacement services as it will increase retention and people will actually enjoy working for you. The environment you create will have a lasting impact on your employees.
Another thing you must remember is that many outplacement firms, nowadays, are ready to offer their services to companies of any size, so finding the right one for your workplace should not be a problem.
Offer guidance to your employees
Some of your employees may have been working with you for a long time, and letting them go will not be easy on your or the employee. The best you can do is help them transition; it is the job of the firm to help offer your employees guidance and coach them on how to look for their next job. The employees laid off will not go on a bad note and it will also reduce the stress of departing for both the person and the company.
Good way to cut costs
Though your company will be paying the outplacement firm for their services, it will still not be as much as the cost of keeping employees whose services are not required anymore. This will serve to be a benefit in the long term you will see a clear difference in your balance sheet by the end of the year. No matter how well the economy is doing, companies are still finding ways to cut their costs without creating distress in the workplace and hiring an outplacement firm is the way to go.