Outplacement in the Covid era
As the pandemic continues to ravage the economy, organizations that wouldn't have expected a year ago that they'd have to significantly reduce their workforce are now faced with exactly that challenge.
The suddenness of all this makes it especially challenging for any HR executive to deal with, especially if the company previously didn't have to deal with reductions in force the way some companies do on a regular basis (like defense contractors that constantly win and lose contracts).
There's a lot to think about, plan, and sort through. Chances are, if you've found your way here, you're probably considering outplacement services.
Providing some sort of outplacement support offers numerous advantages, from reducing legal claims, protecting your employer brand, avoiding negative publicity that can affect consumer marketing, and reducing unemployment costs.
For many, there is also the simple desire to want to soften the blow and help your loyal employees as they navigate a difficult situation. The best thing you can do for them is help make sure their time in transition will be as brief as possible.
Of course, in a recession, it will likely be more challenging for your employees to land new positions, and for many it will take longer than normal. So you might be asking if there's even a point in providing any type of outplacement or career transition support when the outlook is so bleak.
As a business owner who launched right before the Great Recession and helped a lot of laid-off workers in 2008, 2009, and 2010, I've seen first-hand that there are DOs and DON'Ts of navigating job search in a recession--and these could mean the difference of landing in half the time it might otherwise take.
Even if someone merely lands 20% faster, that can make a big difference, both financially and in terms of self-esteem and the entire family's mood.
Your employees will remember that you made sure they got help.
Outplacement support doesn't need to be expensive. Even a very simple and affordable solution can have an impact.