In February, LinkedIn released its recent findings from the Workforce Confidence Index showing that U.S. workers are taking a cautious career path. More than 74% of the 5,520 participants stated that they are choosing to stay in their current jobs for reasons that amount to sheltering in place, or in this case, “sheltering in job.” The most common responses for staying in their current jobs were collecting a steady paycheck and keeping household finances stable (59% of respondents). While the report acknowledges that motivation is typically based on a variety of factors, this report shows the significant priority today’s workers place on job security.
Of course, we know that staying in a less-than-ideal job scenario isn’t always possible, and even those who would happily stay in their jobs don’t always have that choice. In fact, 2020 saw the worst job losses in the United States since 1939 (WSJ).
When workforce restructuring occurs, it’s devastating for affected employees, usually causing significant stress. However, with a proper transition strategy and outplacement service provider, it is possible to make it easier for all involved.
What are Outplacement Services?
Outplacement services help outgoing employees to find new employment opportunities that fit each individual’s skill set, experience level, and culture preferences. These services vary by outplacement provider but generally include support in areas such as resume optimization, interview training, personality and skills assessments, effective use of LinkedIn, and more. Industry-leading providers often take this support to the next level with one-on-one coaching and high-tech solutions that enable a stronger, faster transition for outgoing workers.
How Outplacement Services Bridge the Gap
Outplacement services are a critical resource to organizations going through financial challenges or restructuring. Usually provided by external firms, these services can help ease the transition process for everyone involved: separating employees, remaining employees, and the employer. Here are just a few ways outplacement services bridge the gap for transitioning employees:
Support in the modern job search
Outplacement firms are at the forefront of modern job search tactics for professionals at every level. From virtual interview training to online networking, outplacement services equip exiting workers with the latest tips and insights for a modern job search.
Market-ready value propositions and resumes
Job seekers need to craft the perfect message for potential employers, one that articulates the individual’s skills, knowledge, and abilities in a personalized way that grabs attention and cuts through the noise for potential employers. Outplacement firms pair career coaches with job seekers to craft their go-to-market message to find the best fit for their career path.
Reskilling and upskilling to improve employability
Top outplacement firms provide reskilling and upskilling services to transitioning employees to fully equip them for today’s job market. These services are often based on skill sets that are in high demand from the world’s top employers, giving outgoing employees a competitive edge in the applicant pool.
One-on-one career coaching
No two individuals are alike, and neither are their job searches. Top outplacement firms provide direct career and job search coaching, giving a high-touch transition experience that guides an otherwise challenging process.
Online career and search portals
Searching for a job involves so much more than simply finding and applying for job listings, especially for executive roles that are seldom posted publicly. Job seekers must complete assessments, research companies to find a good potential fit, practice interviewing, and more. Top-tier outplacement firms provide job seekers with access to related resources and support, all from the comfort of home.
Elevated employer branding
Being laid off is difficult but receiving support, resources, and guidance can help alleviate some of the resulting fear and anger, and taking good care of your exiting employees eventually helps them become ambassadors for your brand. Remaining employees also benefit. Studies have shown that providing outplacement support to former workers helps to maintain morale and elevates employer brand among remaining employees.
Easing the Transition Experience with Outplacement Services
Outplacement services offer more than just resume review and interview training; they empower transitioning employees with a suite of knowledge, skills, and resources to take the next step in their career. When employers offer outplacement services, it turns a difficult event into a personal and professional growth opportunity for transitioning employees and provides a final positive experience in their career journey with your company.