The ROI of Outplacement 2.0
July 25, 2013 by Careerminds
Losing a job due to outsourcing or the downsizing of a company can be a very stressful time for both the employee and the employer. To relieve the tension that is inherent in these kinds of situations, many companies are providing outplacement services to help employees with transitioning into another similar position or a new career field. With the latest changes in technology, Outplacement 2.0 has opened up additional opportunities to make sure each affected employee will receive custom and quality servicing. The main objective for these services providers is assisting these employees with landing their next job.
Because outplacement is such a complex system, it’s hard to pin down exact numbers for ROI; as a result, many traditional outplacement services get caught up in trying to provide tangible data for the client expenditures and end up costing them more with no real benefit to the employee.
To accomplish this task, Outplacement 2.0 is changing the industry standards by providing an innovative one-stop shop that provides employees with suitable employment, while also yielding a great outplacement return on investment for the companies that hire them. By concentrating all of their efforts and resources on a wide variety of different areas, the outplacement services can help each individual transition into a new position as quickly as possible. Some of the most commonly used resources include quality career consulting for each employee along with a dynamic learning environment. When combining these two essential components, each employee can speak with a professional employment consultant about their career path, and then focus their efforts on enhancing their present job skills and abilities.
In addition to identifying a specific transitional career path, each employee can participate in various online social sites to assist them with obtaining their next job position. In fact, networking online is a great way to get new leads for open jobs. The primary role of the consultant is to work with each affected employee by actively engaging them in taking control of their future job opportunities. From preparing professional resumes to learning how to land the job with effective interview skills, Outplacement 2.0 helps with accelerating the time by leveraging the outplacement service processes with many types of innovative hiring solutions.
One of the best features of this kind of program is it serves a dual purpose. One of which is to make sure the laid off employee’s fears are eased while they are making this unnerving transition. Another purpose for using Outplacement 2.0 is to make sure the affected company gets a high return on their outplacement investment. In fact, the companies that use these innovative career coaching and placement strategies will normally meet their job goals twice as fast as the U.S. national average.
The most noticeable return on your company’s investment will be in unemployment payments—the entire point of outplacement is to help employees find a new job; the sooner that happens, the sooner the company can stop making those payments. In addition, any lawsuits that occur during times of downsizing are reduced with some studies showing as much as a 30% drop in legal fees for companies who use outplacement vs. those that do not. With opportunities to transfer into a new career, companies are also less likely to prevent bad press which also helps to preserve their existing customer base.
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