What is Outplacement?
Outplacement sometimes known as a career transition solution is a service employers can provide to outgoing employees affected by layoffs or reduction in force. It is a support service that helps displaced employees get back on their feet.
Out outplacement services assist workforce transitions through professional assessment, stakeholder management, and professional staff counselling. Outplacement support increases an organisation’s competitive edge, maximises the mobility level of departing staff, and reassures the people remaining in the company.
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Provide exiting employees with the right tools and resources via Links’ outplacement services. Help them immediately target their focus on their careers – rather than frustrations.
Why Leading Businesses Rely on Links Outplacement Services
Providing outplacement services to employees isn’t just a nice thing to do but a way to protect your employer brand and cut future hiring costs. In fact, 41% of remaining employees suffer a decline in job satisfaction and 36% become less committed (Deloitte Research).
Protect your brand and provide exiting staff with additional support. Reassure remaining employees to minimise workforce and efficiency disruptions. With over 20 years of HR excellence in Asia, Links has helped businesses save over HK$ 100 million in costs. Build a smooth transition today with Links Outplacement services.
Benefits include:
What Services Are Typically Included in Outplacement?
Start Your Layoff Planning Early
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Don’t Let Today’s Decision to Layoff or Restructure Impact Your Future Workforce
Many leaders don’t realise the benefit of outplacement towards the company. By providing outplacement support, companies enjoy a smoother transition, mitigate legal disputes and communicate to internal staff their value, thereby reinforcing future and remaining workforce.
Did you know, a 1% downsize in the workforce leads to a 31% increase in voluntary turnover rate the following year (Harvard Business Review). Outplacement services should help leaders identify workforce inefficiencies and plan out a smooth exit strategy.
Best Suited for Companies that:
Frequently Asked Questions (FAQs) in Outplacement
Outplacement services can be provided in person, online, or through a combination of both. The length of outplacement services can vary, but it typically ranges from 6 months – 18 months. The cost of outplacement services can vary depending on the length and complexity of services provided.
Outplacement can provide several benefits for both employers and employees. For employers, outplacement can help to:
- Protect the reputation of the company by showing that it cares about its employees and demonstrate strong corporate social responsibility by the employer. This is especially crucial since customers, investors, partners, and other stakeholders often pay attention to a company’s CSR efforts.
- Mitigate the risk of lawsuits from former employees.
- Retain people left behind to fulfil your responsibility as an employer.
- Ensure a smooth transition for employees.
- Provide training for employees for more efficient knowledge transfer.
For employees, outplacement can help to:
- Connect to new opportunities quicker.
- Increase their chances of landing their next dream job
- Provide better access to counselling services for those suffering from anxiety and depression and even their family members.
Outplacement services for employers can include:
- Consulting services to help employers with downsizing strategies and communicating layoffs to the workforce and strategic planning of communication to the workforce.
- Support measures to keep retained employees productive.
- Guidance on how to effectively approach layoffs and terminations consultations.
The most common outplacement services include:
- Pre-Execution consultation – Understanding the priorities of the company so that the right set of outplacement service can be provided. Getting employees into the next opportunity and placing them with a suitable candidate.
- Implementation Phase – The outplacement service provider provides support through skills gap identification, termination planning, career counselling, and so on.
- Employee Aftercare – To ensure employee moral remains high and to make certain they are settling well in their new opportunities, additional services are provided such as flexible clinical consultation, an emotional support hotline and even a 24/7 support hotline for family members.
Outplacement is most suited for employers who
- have a plan to right size their workforce
- are laying part of the workforce off
- are relocating part of their company
- are planning a merger/buyout and need to eliminate redundancies
Despite the additional cost it incurs, employers provide outplacement assistance as part of their benefits packages due to its potential to enhance their company’s reputation and reduce certain risks linked to layoffs and terminations.
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