Companies using an outplacement service see a substantial decrease in redundancy lawsuits from former employees. The impacts of litigation can linger long after the situation has been resolved affecting company image and finances. It is important to protect your business and ensure a good termination process.
Former employees will have the opportunity to rate their experience with your company on platforms like glassdoor.com. They can also air their discontent on Social media which may a business’ employer brand but their customer or client brand as well. Brand plays an important role in your company’s ability to attract and retain talent.
The remaining employees after layoffs usually have lower commitment, job satisfaction, and performance. Outplacement shows that a business cares about departed employees, portraying them to be employee-minded. By connecting released employees with new opportunities, it demonstrates you really value employees.
Employees have given up personal time and put their expertise, sweat and tears into building the company. Outplacement will support clients by offering career counseling, resume + cover letter overhauls, job search advice and support their well-being, essentially setting them up for success. This is like returning the gift to the former employer and paying it forward. It immensely increases the chances of friendship and relationships staying intact which can be priceless.
Also when an employee quickly finds a new job, they will start receiving their new paychecks, which will reduce the unemployment compensation costs.