What You Can Learn With a List of Outplacement Firms
October 17, 2017 by Josh Hrala
When it comes to choosing a new service for your business, you probably do what we all do: an exhaustive amount of research. Outplacement isn’t any different. You should start with an open mind, looking at firm after firm, creating a list of top outplacement firms that meet your criteria on a general level then whittling that list down to a shortlist.
After you have a list of outplacement firms, though, how do you find out what one is right for your company? How do you take all of that information and leverage it to finally making the right decision?
Well, the good news is that there are surefire ways of using all of this initial research to reach a conclusion. How? Simple: know the differentiators and then schedule a demo.
Before we get into it, you want to take this opportunity to offer you our demo, too. You can speak with an expert about how our next-gen outplacement firm is different from the rest by clicking this button:
First, How Do You Even Develop a List of Outplacement Firms?
If you are still wondering what outplacement firms are out there, you should hit the search engines and try to come up with a big list of outplacement firms that encompasses all of the variations on the service.
You want to look at next-gen outplacement firms, traditional firms, new firms, old firms, whatever you can find.
While you’re putting this list together pay close attention to the firm’s website, reviews, and other things that are easy to find without needing to talk to someone at the company.
Once you have this list of outplacement providers on hand, you need to dig deeper into what they have to offer. For example, do you have a an employee that lives in the rural area? Do they need a flexible service? Will a traditional brick-and-mortar firm do?
These questions are all pretty easy to answer by digging around a firm’s site and by gauging what type of service your employees will typically need in the event of a RIF.
From there, you should whittle that list of outplacement firms down to a shortlist – one’s that you are 100 percent on the fence about – and go from there.
How to Determine What Firm Is Right For You?
Okay, so now that all that ‘list downsizing’ is out of the way, let’s go over what you should do when it comes to actually pinpointing the right outplacement service provider for your individual company’s needs.
Know the Key Differentiators
When it comes to any service, the best way to choose the right one for you is to know what sets different firms apart, making them each a unique choice.
So, as far as outplacement is concerned, there are quite a few differentiators that you should keep in mind.
Here are a few big ones:
- Term Limits: A lot of outplacement providers use term limits to make sure they don’t spend a lot of money on clients that may take longer than others to get placed. This is bad for you because it doesn’t guarantee placement, allowing your displaced worker to rekindle the bad feels they may have for your business. You should try to find a firm with very flexible or non-existent term limits to ensure the service actually accomplishes what they say they will.
- Retainer Fees: Just like term limits, retainer fees are another way that outplacement firms can make more money. You should be wary of high retainer fees because, unlike law firms, outplacement services are not required on a day-to-day basis. You want them when you need them but paying for them all of the time can be a stretch. Make sure you find a firm that has low retainer costs or doesn’t charge them at all.
- Technological Know-How: When it comes to finding a client a job, an outplacement firm needs to be able to navigate the ever-changing digital landscape. The job hunt is mostly virtual and network-driven, outplacement firms need to tick all of those boxes, too.
- Virtual Assistance: Outplacement, if it is conducted by a forward-thinking provider, should offer their service to clients wherever they are and at whatever time works for them. There is no need to offer a service at a brick-and-mortar location anymore unless that is specifically what a client wants. So, look for a firm that allows you to use their service regardless of location and regardless of normal business hours. Everyone is different. Outplacement should adapt to those differences.
These are the main differentiators that should help you cut down your list of outplacement firms, allowing for an easier, less stressful decision in the end.
But how do you know if a firm meets all of these requirements? Well, that’s where a demo comes in.
Schedule a Demo Before Buying
The only way to finally choose the right provider from your list is to look up how to schedule a demo with them so you can learn more about their individual services and talk to a real person at the company who you can ask specific questions to determine if the firm is really up to the job.
At this point, your list of outplacement providers should be a lot smaller – down to about one or two – from where you started. All of these firms should, for the most part, offer and promise the same thing: to get your employee back to work, though they should also differ when it comes to approach. It’s just about finding the very best fit and to make sure they actually plan on doing what they say they are going to do in their written site content.
Be an active participant. Make sure you ask tough questions, get references, and do all that you can to make sure they are up to the task. Also pay attention to how well they use technology in the demo, how their platform looks, and how easy it is to use.
Ask yourself: will your employee be able to manage these systems? Is the firm flexible enough to make sure your employee will have all of their bases covered? What are their placement rates? How do the companies that work with them look on Glassdoor? What is the firm’s Yelp page like? These questions will all make choosing a provider all the more easy.
Once you have completed demos, you should have a clear choice to make. You started with a long list of outplacement firms and now you have your choice in hand.
Were we on your list of outplacement firms? Schedule a demo to see if we can work for you.
In need of outplacement assistance?
At Careerminds, we care about people first. That’s why we offer personalized talent management solutions for every level at lower costs, globally.