There are times when a company may have to release an employee in good standing due to budget constraints. Or perhaps they have a very loyal team member who just cannot meet performance expectations. It pulls at heartstrings when having to communicate their employment is ending. Offering an outplacement service to your exiting employee(s) proves the company genuinely cares about their career transition and lessens the pain of them taking the job elimination personally.
Without an outplacement transition service there can be repercussions:
- Negativity leading to extensive legal costs
- Extended unemployment claims, increasing taxes
- Low morale with existing employees
- Loss of productivity
- Poor social media damaging the brand
- Difficulty hiring talent
Businesses invest for effective onboarding, but just as important, an investment is needed for offboarding. A small cost that can potentially save the company a lot of money. Offering an outplacement transition service helps limit negative exposure and heightens your people-centric culture.
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