It is never easy having to let go of your employees. However, it is something that cannot always be avoided. It is an opportunity for your HR department to thrive, as it is their job to provide employees with all the support they need upon exiting the company.
Outplacement services can support your HR leaders with this on a grand scale. Today, we will be discussing why your company should use outplacement services and have its outplacement scheme in place.
Helps with Redundancy
Redundancy is a complex process, and it is not something that most employers enjoy doing. However, the right people in your company must be trained to deliver redundancy news correctly. As well as providing the information to your employees accurately, they must be provided with support following it. Redundancy figures show that hundreds of thousands of people were made redundant in the UK throughout 2021. Although it is not uncommon, it can still be easy for employers to get it wrong.
Therefore, an outplacement scheme is necessary. It provides the required coaching to your HR leaders who will learn how to handle redundancy effectively whilst keeping your employees best interests at heart. It helps to prepare the employees exiting the company for the next step.
Gives Financial Support
One of the main worries associated with redundancy is finances. When your employee hears they are being made redundant, they can often start to worry about money and how they will pay their bills without a job. The great thing about an outplacement scheme is you can help to take some of that worry away. Your plan should offer financial support. Typically, in addition to statutory redundancy pay required by law in the UK, most companies will have a policy that allows them to enhance the payment to employees following their dismissal. This is known as redundancy pay, which you can learn more about through various online blogs and articles.
As well as offering this sum of money, the people working for your scheme must create a helpful guide for the employee to help them smoothly transition out of the company. The guide should take their budget and financial needs into account. This can help them feel supported and more at ease regarding their finances.
Helps You Maintain Positive Relationships
Companies that let their employees go with little to no support can damage their reputations. This is another excellent quality that an outplacement scheme can offer. This support system helps you maintain positive relationships with your existing employee. If your exiting employee leaves your company with support and guidance, so they are ready to take on their next job role, they can leave their current position with their head held high.
By providing your employees with the support and guidance they need through what can be a difficult time, they are less likely to leave your company full of resentment. Instead, they can leave the company on a positive note and maintain a good relationship with the people who work there. The scheme will help protect your brand’s reputation by showing your employees that you support them in their next venture.
Provides Emotional Support
Redundancy can often spark feelings of anxiety and worry in people. Therefore, your employees must be provided with the emotional support they need to help them transition smoothly out of their job roles. This is one of the fantastic benefits that outplacement support offers. Often, you will tend to find outplacement is provided by a third party like Randstad RiseSmart. Companies like these give your employees a safe and supportive consultation space to express their fears and concerns regarding their exit to the company.
Your employees will hugely appreciate emotional support like this. Having someone to talk to can help them reduce negative feelings related to stress and worry. This can make their exit from the company run a lot more smoothly. It can also help the employee stay focused and think about the next step moving forward.
Helps Employees Resettle Quickly
Once your employee hears that they are being made redundant, it can lead them to panic. Often, they may struggle to remain calm. However, with an outplacement scheme in place, you can help your employments feel more at ease to help avoid this. Outplacement is effective because it provides your employees with the information they need to smoothly transition out of their role and into a new one.
Your outplacement scheme should offer employees training, financial guidance and future opportunities. By doing so, you are helping to speed up the redundancy process and remove some of the associated stresses. Employees are motivated to move onto the next step in their career rather than feeling worried and anxious. Look at some online resources for more information on how you can look after your employee’s mental health.
Provides Exiting Employees with Coaching
The main aim of your outplacement scheme should be to support your exiting employees. You are not only helping them exit the company by giving redundancy pay, but your system should also help them find their new role. Coaching is an essential part of the outplacement process. Most services will offer support in creating professional CVs, cover letters and social media profiles. These elements will help to boost their employability as they leave your company.
Most companies now require long job application forms during the recruitment process. For some of your existing employees, they may have never filled one of these out, mainly if they have worked for your company for most of their life. So, your scheme must coach them on how to fill out these applications so they can stand out amongst other candidates. You should encourage those who work for your outplacement scheme to brush up on their coaching skills as this is a crucial part of the service you should be offering.
Keeps Employees Up to Date with Latest Market Trends
One of the best advantages an outplacement scheme can offer is the ability to keep up to date with job market trends. We have established that your system supports and guides your employees into their next job role. However, no matter how much training someone has had in their current position, sometimes they are not prepared for the industry and technological advancements they may face when applying for a new job.
This is where outplacement services come into their own as they can prepare your employee by making sure they are up to date with the latest trends in their chosen industry. This will help them tremendously when it comes to their job search. Instead of being thrown into the deep end, your employee can exit your company with the guidance and support they need to transition into their new job role.
Summary
Redundancy can be a stressful process for both your company and your exiting employee. However, with an outplacement scheme in place, you can give your employee the support and guidance they need to help them transition out of the company and into a new role. It is advised that you conduct some more research into outplacement services to give you the inspiration you need to put it into practice. It is something that your employees are sure to appreciate, and it can help protect your brand’s reputation.
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