The_Essential_Guide_to_Outplacement_Services__VelvetJobs

1. The Essential Guide to Outplacement The Essential Guide to Outplacement Services: Everything You Need to Know as Services: Everything You Need to Know as an Employer or Employee an Employer or Employee Thinking of implementing an outplacement service within your organization but don’t know where to start? Searching for alternative outplacement providers with better costs and benefits? Or, you are an employee worried about being laid off and don’t know what support is available? Then keep reading… Sometimes organizations are left with the tough decision to lay off some of their employees; it’s a harsh reality that no employer or employee wishes to face. However, when no alternative is available that doesn’t have to be the end result. Companies can now choose to offer extended support to those exiting the business as part of the social responsibility of the organization, also known as outplacement services. Here, we take a look at everything you need to know about the outplacement process, starting with the initial severance period. So, what is a severance package? So, what is a severance package? Ultimately, the severance package is an agreement regarding how much pay and company benefits an employer is willing to continue to offer the employee beyond the last paycheck. Obviously it differs within each organization and with no legal obligation, some do not offer any type of severance package at all. If you are an organization without a severance package in place, it is worth your while to look into. Even though you may not understand why an organization would purposely choose to offer this type of deal to employees leaving the business, learning more about some of the benefits will help you see how it can be worthwhile. “Since many times a person's employment is terminated through circumstances external to their work, the provision of severance pay is a positive and supportive gesture.” Susan M Heathfield, HR Expert – www.thebalance.com What are some common severance packages? What are some common severance packages? A typical severance package will include 1 weeks’ pay based on each continuous year of service with a capped maximum amount. Some organizations will go further and offer a continuation of health care benefits and over 70% of U.S companies will refer the employee to outplacement services. Other benefits may continue to be extended beyond the termination of employment, at the employer’s discretion.

2. What are your first steps after a layoff? What are your first steps after a layoff? For an employee, hearing the news that they've been laid off is bound to trigger a range of emotions from anxiety to anger, not mentioning a punch to your self-esteem. Rather than sticking your head in the sand, the best thing you can do is be pro-active! If your employer already offers a severance package then that’s great. If not, there’s no harm in trying to negotiate some severance terms of your own. If your organization cannot offer any additional help then there are other solutions out there such as outplacement services to help get you back into employment quickly and stress free. As an organization, what can you expect from outplacement? As an organization, what can you expect from outplacement? With outplacement services custom-tailored to your organization, executives can receive guidance on how to articulate the transition, teach interview skills, help with resumes and support career progression. Some outplacement package services, such as VelvetJobs, even guarantee job placements, providing the service for free until the employee lands that new job. Providing outplacement services to employees who have been laid off will enable them to secure another role faster and shows the remaining employees that you are an organization that cares; this in turn will boost employee loyalty to the company. As an employee, what can you expect from outplacement? As an employee, what can you expect from outplacement? Having an outplacement service on your side when you're in need of a new job means you can expect high levels of support and counseling throughout those stressful times. With the right tools and experts on hand to help you build your resume, job matching systems for exclusive vacancies, expert tips for interview prep, techniques and career coaching you are sure to secure another role sooner rather than later. Discover how to use outplacement services. What are some of the benefits of outplacement? What are some of the benefits of outplacement? There are many benefits to both the employer and employee when it comes to using an outplacement service. The top 5 key benefits of an outplacement service include:      An increase in loyalty and satisfaction from remaining employees. Maintains a good reputation for an organization on how they handle this situation. Reduces lawsuit claims for unlawful dismissal. Laid off employees find work quicker with the additional support provided. Provides invaluable counseling to the employee.

3. Read more about the benefits of outplacement . Furthermore, a study published by The Federal Reserve Bank of Chicago projected that an organization with 1,000 employees who were laying off 100 employees could avoid losing about $1.4 million in wrongful termination lawsuits by offering outplacement services. So when you look at the costs of offering outplacement services to your employees versus the costs of just one lawsuit, the money savings are still considerable. How to negotiate a future outplacement package? How to negotiate a future outplacement package? As an employee, negotiating a future severance package which includes outplacement services shouldn’t be hard if you come prepared. Arrange a one-to-one meeting with your supervisor and discuss all the benefits of providing an career transition package with a prioritized list of negotiation points. Employers will feel better about negotiating terms if they are also going to reap the benefits and having staff that feel more secure about their future will no doubt create a more motivated and satisfied workforce within the organization. How much do outplacement firms charge? How much do outplacement firms charge? With outplacement services coming at a high cost, many companies are unable to afford them. Some of the largest outplacement providers can charge anywhere between $3,000 to $10,000 per person and are mainly marketed towards the organization as consumers are not willing to pay that kind of money for themselves. Other outplacement firms targeting smaller companies can charge around $850 to $2,950 per person. Luckily there are new leading outplacement firms offering extremely competitive prices; Velvet Jobs offer outplacement services to organizations from just $500 per person and with some of the world’s most reputable companies as their customers, you know you're in safe hands.