During the financial crisis and recession that hit the world a decade ago, hundreds and thousands of individuals were either forced to leave their jobs, or their businesses didn’t have the capacity to help them achieve their goals and sustain growth. Hence, it is in these uncertain times that businesses and their employees need a light of certainty that helps make a prudent and worthy transition. It is where many organizations invested and sought help from Recruitment firms and career coaching specialists to help them and their employees navigate this hard time of downsizing.
Businesses should see outplacement services as their responsibility to ensure their cherished assets get the best opportunity to start a new life with a well-suited job or career. Moreover, it is an equally important step to protect your own integrity and reputation as a concerned employer. The Oxford Handbook of Job Loss and Job Search puts career outplacement services at the center of growth for many innovative businesses and organizations. Not only does an outplacement program serve as a benefit to prospective employees, but it also provides them confidence in their ability to find a worthy future career when it’s time to depart. Following are some possible benefits to hire, or have in-house outplacement services:
- Sustained relationships with current employers for future projects when needed,
- Both current and ex-employees can serve as positive public relations handlers,
- Helps display a responsible attitude towards employees,
- Mitigates employee stress by providing future career assessment, and hiring assessment opportunities.
- Helps minimize legal risks. In the past, employees have sued their employers for abrupt downsizing, irrespective of having resources to continue engaging them in current jobs.
- Helps increase employee retention, because employees know they would be provided with career transition services when needed.
- Reduces stress online managers and business owners during the downsizing
Although many businesses see outplacement services as a future expense, responsible ones look it as a future investment. Not only it helps maintain a public image as responsible members of society, but it can also help motivate employees to do their best in current jobs, ensuring it will be of future benefit when it’s time to move.