We are undoubtedly living in strange times – from many perspectives. This decade entered our lives like a raging bull: the economy was on fire, the job market at unprecedented lows. For businesses worldwide, everything was going our way. Slowly, however, a global pandemic started creeping across the globe, country by country, and the world came to a screeching halt.
The record-low 3.5% unemployment rates the United States touted in February have all but vanished, plagued by what many economists are predicting to be as high as 20% by the end of May. The pandemic death tolls are staggering worldwide but may be overshadowed by the devastating job loss numbers. The market is bracing to lose upwards of 25 million jobs in this country alone. For those who have lost loved ones, friends or family, this becomes a secondary blow. The personal and professional impact seems to touch almost every one of us.
Tough Decisions for Business
The difficult decision to downsize or furlough employees is no easy task. Companies have tried creative alternatives, such as company-wide pay cuts or reductions in benefits, but sometimes it has not been enough. The government has done their part to try to offset the losses faced by businesses. In many cases, it has bought precious time, but in others, it was not enough.
Many of the displaced employees have not been in the job market for a very long time, if ever in their careers. Changes in the way job search occurs has evolved drastically since the last recession. They don’t even know where to start!
Outplacement is More Important Now Than Ever Before
Outplacement is the professional assistance provided to displaced employees at the time of their separation. This service can last anywhere from several weeks to several months and assist the job seekers in positioning themselves and finding new work. Outplacement is a critical service for many employees, in that it speeds up the job search process and empowers the employee with the tools to successfully land in his or her next position.
Other services an outplacement firm may provide will include:
- Resume Creation
- Job Search Advice
- Interview Training and Preparation
- Networking Advice
- Coaching
- Workshops
- Reinforcement
- Career Assessments, if applicable
In our “shelter in place” reality, outplacement can even be performed virtually – through one-on-one coaching, or in groups. Peers are able to share experiences and challenges from the comfort of their own homes. Job seekers can tune into webinars or search job boards during their own time, 24 hours a day. The days of driving to an office or coffee shop for networking meetings have been replaced by Zoom or Microsoft Teams meetings.
Retaining Your Employer Brand
“A person [or company in this case] shows its true character in times of crisis” as the old saying goes. Being a socially responsible employer has never been more important and easing the transition for employees is a perfect example of such. In a society where a disgruntled employee has the ability to broadcast his or her feelings about an employer on various channels of social media, a company’s actions during a downsizing can have lasting effects well into an economic rebound.
Offering outplacement assistance can be a win-win for employees and companies alike. A downsizing within any company creates unrest, even for the employees that still remain. Knowing that their fellow colleagues have support and assistance during their time of need provides peace of mind to existing employees. If they were to encounter the same fate, they know that they will have an advocate every step of the way. This preserves the existing culture and prevents an environment of negativity among the remaining employees.
Assisting transitioning employees while jobs are in limited supply will help them showcase their skills and network with appropriate contacts to land them in their next role. Working with a coach will provide structure, accountability and serve as an invaluable resource to brainstorm with. Their individual coach will also guide them to utilize relevant platforms for modern job searches and help with refining a professional profile. Job search technology is forever evolving and it is an outplacement firm’s job to be abreast of the most popular tools available.
What Will YOUR Company Do?
How does your company want to be viewed during a crisis? Explore one of the many options available with one of our associates at the Resilience Group.
by Natalie Lemons
Natalie Lemons is the Founder and President of Resilience Group, LLC, and The Resilient Recruiter and Co-Founder of Need a New Gig. She specializes in the area of Executive Search and services a diverse group of national and international companies, focusing on mid to upper-level management searches in a variety of industries. For more articles like this, follow her blog. Resilient Recruiter is an Amazon Associate.
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