Does your company invest as heavily in hiring and recruiting as it does in letting people go? When the time comes to part ways with employees, are you treating them with the same care as when they were initially hired? For many organizations, the answer is likely, no. However, many are seeing the benefits of providing support to outgoing employees and how the affects positively trickle through the company as a whole. Outplacement firms specialize in career transition management. Here are 3 reasons why you may consider offering outplacement services to your former employees.
Help those who have invested in you
While some employees go to work simply for the paycheque, many go to work to positively make a difference to their firms and their clientele, to build relationships and grow professionally. These people view work as a second home and invest significant time and energy for the benefit of the company. It is often an unavoidable and very stressful situation when the time comes to end the employer/employee relationship. This is when an outplacement firm steps in to provide critical support to both you and the affected employee. Outplacement consultants will guide you and your staff in delivering difficult news, compassionately help employees receive difficult news, and ultimately provide the professional career guidance that is necessary to help your former employees find new jobs faster than they would on their own. Outplacement firms personally help these employees to find the confidence and optimism to move forward in their careers.
Protect the company
Upon being terminated, outgoing employees are generally hit with a wave of emotion and can often feel frustrated and angry. Some may take their concerns to employment lawyers and some may take to social media to vent their feelings. Both are scenarios that you obviously want to avoid if possible. By offering your former employees outplacement services, you help them to mitigate their damages caused from job loss, and reduce the chances of you hearing from their legal counsel and avoiding costly and time consuming wrongful termination lawsuits. If legal action is brought against you, you can always point to the provision of professional job search assistance to help in your defence.
Maintain your good reputation with valued staff – and new hires
When you terminate an employee, you’re also saying goodbye to someone’s peer, mentor, leader or friend. Layoffs often leave behind feelings of uncertainty for remaining employees, which can have a significant negative impact on their production. Studies by Stockholm University and the University of Canterbury discovered that those left behind experienced a 41% decline in job satisfaction and a 20% decline in job performance. However, if your employees understand that you have provided meaningful assistance to their former colleagues through an outplacement firm, you are more likely to retain their trust. Demonstrating that you truly have their colleague’s best interests at heart can go a long way in keeping your best people motivated and feeling valued.
Offering outplacement services can also help to recruit the level of staff you need to maintain your competitive advantage. Employees today are interviewing companies, just as companies are interviewing potential employees. The importance of company culture and non-monetary benefits is on the rise. Demonstrating to your new hires that you are committed to their career growth and that you truly value them as employees and as human beings, even if you can no longer employ them, can be the deciding factor that wins over your top candidate.
Terminating employees is an unfortunate necessity of doing business, and likely one of the least favourite aspects of your job. The effects of letting just one person go can be felt throughout the entire company, and result in emotional and financial damage. Experienced outplacement firms like CMS can help make this transition much easier by providing you and your outgoing employees with professional and compassionate guidance, encouragement, and comfort.