Outplacement services are a relatively new concept in the business world, and outplacement consulting firms remain very misunderstood. Unfortunately, some bad actors in the industry have given outplacement services a mixed reputation. Many executives understand that outplacement consulting is a compassionate and professional way to approach downsizing, yet few people realize how it benefits their company as well.
The job search process has changed enormously over the past decade, and workers who haven’t been on the job market in many years can sometimes be left out in the cold. The best outplacement consulting firms know how to help these workers adapt to a new labor market, teaching them skills that will help them land on their feet. It’s obvious how outplacement services can benefit the affected employees, but how does it affect the company they’re transitioning out of?
Unless a company is closing down for good, the majority of their workers will be staying behind. A bitter, unceremonious downsizing process can have a disastrous effect on morale as employees see their coworkers struggle to find new work. And that’s dangerous during a time when employee retention is a major source of anxiety for managers and executives everywhere.
The era of the “company man” is long gone. Today, many workers perpetually have one foot out the door, and even the best businesses can struggle with retention. In one Jobvite survey, 53% of workers said they were always open to new job prospects. And in an era when 57% of organizations say employee retention is a serious problem, employee turnover costs companies anywhere from 30% to 150% of that employee’s salary.
A boutique outplacement consulting firm can help guide employees through the career transition process, not by conducting one-size-fits-all seminars, but by treating them as individuals with unique needs. This also sends a clear message to the employees that stay behind that they work for a company that values people as more than just numbers on a spreadsheet.
If your company is going through a big transition this year, then outplacement consulting firms can offer a win-win solution for employees and employers alike. With the right consultants, you can make sure a difficult situation works to everyone’s advantage.