Outplacement
Candlefocus EditorOutplacement services typically include resume writing and job search skills, such as career counseling, coaching, and guidance on negotiating job offers. Many outplacement firms also provide individuals with career advice and access to job boards, networking opportunities and job fairs. Outplacement consulting firms can also provide employees transitioning into a new job with strategies to obtain higher salaries and better benefits packages.
Outplacement benefits the employer as well as the employee. It can help the employer by reducing their own liability in the case of a wrongful termination lawsuit, as well as providing the terminated employee with assistance to find a new job. It can also reduce the time needed to fill a vacant position, as well as help prevent potential reputational damage by offering assistance to the ousted employee during the transition process.
For the employee, outplacement can serve as an outlet to start over in a new career, while providing help and support during a difficult time. It allows terminated employees to better prepare and understand the job market the transition into their new position.
Despite the potential benefits of outplacement programs, employers can sometimes be hesitant to invest in such programs due to their cost, which can range from hundreds to thousands of dollars per employee. This cost is usually built into the total compensation cost of a company, and can prove to be a worthwhile investment to minimize the risk of litigation, as well as reduce stress and turmoil for transitioning employees, who will assimilate into the job market sooner than if they were to go it alone.
Ultimately, outplacement services prove to be a beneficial resource for both employers and employees, providing the employee with needed support and guidance for a successful transition into the job market and limiting organizational risk for the employer. It is an effective cost-saving measure, offering transitioned employees the tools needed to develop the skills necessary for individual success.