With all the buzz about a looming recession, it’s hard not to think about the impact that it could have on the workforce. Companies may be forced to downsize in order to survive, but what about the employees caught in the wake of these cutbacks? Having an outplacement strategy in place before you actually need it can make the transition easier for everyone.
Here are our top five benefits of investing in an outplacement program:
Support Departing Employees
Outplacement programs should provide departing employees with relevant job-hunting skills and connections to secure new employment as quickly as possible. Counseling, resume writing, interview skills training, and job search strategies are key components to a successful career transition for affected employees. This support can significantly reduce the amount of time it takes them to find a new job.
Reassure Remaining Employees
Workforce reductions don’t affect just departing employees; those who are able to keep their jobs may feel unsettled and anxious about the future too. Job loss, or fear of job loss, can be traumatic and cause a myriad of negative effects to a person’s overall wellness – mental and physical. Focusing on the well-being of remaining employees and communicating openly and honestly will help them feel more secure about their future with your company and keep them engaged amidst the changes.
Sustain Company Culture
Mishandling a workforce reduction can quickly unravel all the hard work that has gone into building your company’s culture. With an outplacement partner, you can focus on nurturing your workforce while HTI focuses on the needs of your departing employees. Your remaining employees will see that you care, allowing them to stay engaged and have a healthy morale. Those who are leaving will have a more positive outlook on your company and will feel supported as they leave.
Preserve Your Brand
You’ve worked hard to build your brand. Don’t make tough times worse by destroying your company’s reputation with a mismanaged layoff. How you manage a workforce reduction can have a lasting negative effects on your company. According to CareerArc, eighty-two percent of people said that they consider a company’s reputation and brand before applying for a job. Make sure people know they can trust you to do the right thing, even during tough times. Preserving your brand will help you retain your employees and attract top talent once you are able to hire again.
Being laid off can cause deep feelings of anger, frustration and mistrust, sometimes leading disgruntled employees to sue their former employers for wrongful termination. By providing compassionate support and helping outgoing employees transition quickly, you can reduce costs and risk of potential litigation. HTI is experienced in creating a specialized outplacement approach for downsizing your workforce – while ensuring that the legal rights of your employees are upheld.
Investing in an outplacement program ensures a more positive and smooth transition for both employer and affected employees. It’s important to communicate often and balance the changing needs of the business with the human lives affected. The key to a successful outplacement strategy is compassion. Show your employees that you care about their well-being, not just the bottom line. Let HTI partner with you to navigate the difficult decision to downsize or restructure your workforce.
Start preparing today. HTI can help.