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Value and ROI
The
value of providing an outplacement benefit can be directly measured.
It can impact the following areas:
The Bottom Line: budgeting for outplacement as part of the separation package makes good business sense. It is as essential as offering some form of severance, and can directly impact the bottom line. It decreases the amount of time workers obtain unemployment pay, and reduces the potential for lawsuits.
Reputation and Public Image: in an age where companies' reputations can easily be tarnished, the value of being viewed as a good place to work is important, as is the image presented to shareholders, customers, and vendors. Outplacement helps promote the company’s image as a good corporate citizen, and decreases the cost of turnover among remaining employees. Providing outplacement demonstrates to the community that the company values its human capital.
Decrease the Potential for Lawsuits: angry people sue. Offering outplacement can diminish the resentment, hurt and anger many laid off workers feel. By offering a structure that is focused on moving onward, workers have less time to fret and vent about the company and its perceived treatment of them.
The Bottom Line: budgeting for outplacement as part of the separation package makes good business sense. It is as essential as offering some form of severance, and can directly impact the bottom line. It decreases the amount of time workers obtain unemployment pay, and reduces the potential for lawsuits.
Reputation and Public Image: in an age where companies' reputations can easily be tarnished, the value of being viewed as a good place to work is important, as is the image presented to shareholders, customers, and vendors. Outplacement helps promote the company’s image as a good corporate citizen, and decreases the cost of turnover among remaining employees. Providing outplacement demonstrates to the community that the company values its human capital.
Decrease the Potential for Lawsuits: angry people sue. Offering outplacement can diminish the resentment, hurt and anger many laid off workers feel. By offering a structure that is focused on moving onward, workers have less time to fret and vent about the company and its perceived treatment of them.
- Preserve
Morale and Productivity of the Remaining Workers:
"It could have been me." Most employees who remain after downsizing
have this thought. Once the loyalty contract is broken between
employers and employees, the remaining employers look to their
displaced co-workers to see how they are being treated. Downsizings
create a disruption in business, as workers gossip, theorize and
worry about the impact on their own lives. Providing a solid
outplacement plan can squelch this negative energy and provide
reassurance to the remaining staff.
- Preserve
the Dignity of the Displaced Workers:
knowing that the company has provided a free and valuable service to
assist the displaced employee become reemployed quickly can help
preserve their self-esteem. Armed with the tools, displaced
employees become motivated to enter a job search campaign with
confidence.
- Enhance the Ability of the Displaced Workers to Become Re-Employed Quickly: studies have shown that outplaced employees find work quicker, and often even at a higher salary when they have the benefit of career transition services. This is because most displaced workers are critically weak in the skills needed to aggressively look for work. Career transition programs include resume development, interview training, and job search coaching. By offering outplacement services you are providing the training and support displaced workers need to find new employment.
