Out PlacementsBenefits of Outplacement Coordination
Benefits of Outplacement Coordination
From an employee standpoint, outplacement enrichment lightens the subsequent burdens which accompany job loss, namely disorientation, depression and/or desperation to recoup monies lost from once-viable employment.
Conversely, employees should recognize that in-house outplacement services will ultimately reduce the employer's total labor cost. In other words, any monies the employer pays for outplacement could be recovered by lowering total compensation in other ways. From the employers' perspective, in-house outplacement services depict the humanitarian side of corporate well-being. Yes, these companies are taking hard measures to stay afloat and remain profitable, but the firms are also doing everything possible to help departed employees find viable, fulfilling work elsewhere. Regarding wrongful-termination cases, insurers often look favorably at companies that have reliable outplacement outlets. As stated before, it's forward-thinking movement that goes a long way in reducing legal costs and minimizing potential legal hurdles.
Compassionate outplacement may also reduce the risk of subsequent workplace violence.
Foundational companies should always have a discerning eye for future talent, and that's certainly the case with employees who've been previously onboarded.
As such, Performance Out promises to keep ongoing relationships pure and productive, with the full intent of preserving open lines of communication.
In matters of sweeping layoffs, due to downsizing (and not poor performance or erratic behavior), it's in a firm's best interest to keep supporting and encouraging departed employees, with the implied intent of rehiring the productive worker in relatively short order.
There's another benefit to this human-centric approach: Participating firms will ultimately save money with unemployment claims, in terms of the annual tax rates that various states pay out toward unemployment insurance. For every $1 million spent on unemployment claims, companies can approximately save $70,000, through the simple process of effective outplacement measures.
It's a good strategy for today's employment climate: Resourceful companies should always consider the normal and expected rates of turnover in their labor force. Frequent or large-scale layoffs can substantially increase the cost of providing outplacement services.
The primary lesson here: Through thoughtful long-term planning, strategic-minded companies should budget the expected cost of outplacement into its total labor cost.
The Primary lesson here:
Through thoughtful long-term planning, strategic-minded companies should budget the expected cost of outplacement into its total labor cost.
Some companies hire a third party to handle the outplacement process as a means of minimizing expenditures, avoiding awkward encounters and easing tensions among the principal parties.
Performance Out invokes a different approach here.
We choose to let our distinguished reputation with executive recruiting and essential-personnel staffing succeed on various levels; and this rings especially true during the Coronavirus age, as employment firms pursue avenues of corporate innovation and reinvention on the fly.
Decades ago, outplacement services might have been initially conceived to provide former employees with rudimentary access to office tools, such as a computer or business phone. Within the sphere of operations, the job seeker would still have the ability to update their resume and/or cover letters, while pursuing new employment resources. Fast forward to the present:
Most departed employees already possess access to home-office resources, and might only need outplacement companies for in-person consultation purposes. As such, that function cannot be understated in today's outplacement market.
Outplacement Return on Investment
With every new customer or departed employee, Performance Out strives to hit at least three objectives with its outplacement program, a robust system built on the foundation of open communication, two-way trust and networking expertise.
Involuntary terminations are likely the best candidates for outplacement outreach, given their deference to find meaningful work in another capacity.
Through the use of case-study analysis, updated metrics and old-school networking, we'll work diligently with the affected parties, apprising them of all their options in various marketplaces.
This intense process should serve as a long-term boon for both sides, given how the direct/indirect costs of managing layoffs and workforce displacement can be prohibitive, when assigned to third-party contractors.