5 Reasons Why You Should Invest in Outplacement When Restructuring

Your business is about to enter a period of restructuring, and job losses are inevitable. Although there is no requirement for employers to help laid-off employees transition into new jobs; the cost of not providing an outplacement service can be high. 

Investing in an outplacement program when restructuring, pays dividends for both the employees who are moving on, as well as those who remain. It is the best way to help your team move through this period, and face a positive future. It also supports the business management team and owners through this highly emotive and challenging time. 

As outplacement specialists, our skills are continually sought by small and large businesses to help make this process smoother and fairer for everyone involved. When we enter the picture, there are five main benefits.  Let’s look at each. 

5 Benefits of Investing in an Outplacement Program 

Job losses are no fun for anyone, but sometimes they are unavoidable. When you are entering a period of restructuring, having an outplacement program in place can provide multiple benefits, including:

1. Maintaining a positive brand reputation – your business’ brand image is vital for success. While your redundancies may not be published in the media, if employees are feeling disgruntled, there’s nothing stopping them from sharing what’s happening on social media. Not only is that potentially damaging to your brand, it can deter candidates from applying to your business if they feel your employees are being disrespected, which can impact future recruitment efforts.   Providing outplacement services sends a clear message that you care.
2. Retain a good business culture – remaining employees are often overlooked in the restructure process.  They will already be feeling a mixture of guilt and relief that their jobs are safe and it’s not unusual for morale to drop.  Employees need to know their colleagues are being treated well and having an outplacement program can help maintain an optimistic culture, allowing those that remain to focus their attention on their work, remain productive and limit attrition.
3. Reduce the risk of litigation – you don’t want to be facing legal action by not handling the restructure process correctly. Having outplacement professionals work alongside you and train you with notification delivery will help guide your decisions and ensure you follow the correct procedures.
4. Support – providing the practical support employees need to help them transition through this period more easily is important. Outplacement services can support your employees by giving them a neutral person to discuss their feelings with, minimising negative emotions. Support is also provided to help them to focus on the future and figure out what’s next, whether that’s a new job, a business, study or retirement.
5. Assist with job seeking – guiding employees through the modern job search process, assisting them to craft a powerful CV and messaging to help them stand out in the job market can all impact how long it takes someone to land their next opportunity. 

If your business is planning for or currently in the process of restructuring, we can help. Contact us today to find out more about our outplacement services and how we can tailor a program to suit your specific requirements and circumstances.