Outplacement is a process to help individuals overcome economic setbacks such as layoffs, threats of downsizing, or a change in business strategy. Outplacement pricing is the term used when an agency negotiates the cost of its service with a company. It is not just one price charged for counselling services, but rather a series of prices that vary according to the circumstances of an individual’s case and route they take through outplacement. A specific price may also be negotiated based on how much time a client will require (e.g., $1/minute or $25/hour).
Benefits of outplacement
- It helps employees prepare for a layoff
This includes helping individuals take a hard look at their skills and experience, formulate their strengths and what they have done well in their previous job. It also helps them focus on their potential and identify strategies they can use to sell themselves to employers.
- It offers support after a layoff has occurred
This ensures that the client remains motivated while they are looking for a new opportunity, as this is an emotional time. Clients may become confused, dejected or depressed during the outplacement process, but with an experienced coach available to help them through this time, these issues can be addressed before they become too debilitating or last too long.
- It provides a network for job hunting
Outplacement helps the client develop their own skills to find the best position for them, as well as a support system to help them through this process. Outplacement can be a great resource for someone who wants to return to work after being laid off; it supports team building, and helps people develop new skills.
- It offers help with resume writing and interview preparation
The agency provides feedback on topics such as “why you should work for us,” information about the organization, salaries, benefits and more. This is an interesting experience in itself and an opportunity to learn how other companies are run.
- It provides valuable assistance in preparing for a new career
At times, clients may be uncertain if they have made the right decision to go into a new career field, but with the guidance and support of a coach, they can gain confidence and become better prepared for their next challenge.
- It offers helpline support from specialists
This is particularly beneficial when looking for work in another city or country. The network of contacts provided can help people find an appropriate job in their local area or overseas. It is also beneficial when people are making a move between industries as it helps them develop new skills and prepares them for any challenges ahead.
- It can be an excellent way to train for new positions
By working with a coach, individuals can understand their strengths and weaknesses, as well as what sort of characteristics employers are looking for in a new position.
- It provides network support
This is very important when looking to change roles or careers within the same organization and it is beneficial when moving into brand new industries or even a different country. Clients will find themselves surrounded with helpful contacts, and they can develop valuable skills while they are learning how to work in a different environment.