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Whether you are preparing for a reduction in force or considering updating your outplacement benefits, understanding the basics of outplacement is a perfect place to start. Here is the what, who, when, where, and why of outplacement.
Outplacement is services offered to employees transitioning out of an organization in order to help them find their next career move and ensure they are putting their best foot forward. A variety of outplacement services can be offered to departing employees including coaching, resume review, and transition guides, among others.
Any employee who has been let go from an organization, whether it be due to restructuring, layoffs, or other reasons for needing to part ways is a good candidate for outplacement services.
Outplacement is typically offered as part of a departing package, and is sometimes folded into a severance package which is given to the transitioning associate either on their last day or the notification day. According to Mercer’s recent Severance Policies and Practices Survey, roughly 64% of organizations offer anywhere from 3 months to over 12 months of outplacement services to transitioning employees across the different employee levels.
Traditionally, outplacement services required meeting face-to-face with professionals, was expensive and therefore reserved for company executives. Times have changed with companies now turning to on-demand and virtual Outplacement Services.
Offering a 24/7 accessible, virtual first outplacement model is extremely important with many employees working remotely or are part of a distributed workforce. Transitioning employees have all the resources they need right at their fingertips, and can chose how they engage with the platform.
While offering your departing employees outplacement services is often viewed as “the right thing to do” there are also many benefits to the company.
Mercer’s full-service, virtual outplacement solution allows organizations to expand the offerings to a wider employee population while at a fraction of the cost. Our award-winning platform helps displaced employees return to work 2.5X faster than the national average1.
Want to learn more? Contact us today at email@example.com or 866-434-2120.
1 Based on the national average duration of unemployment in 2018 per the Bureau of Labor Statistics.