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October 2017

How An Outplacement Consulting Company Could Save You Money

How An Outplacement Consulting Company Could Save You Money

According to a Gallup poll, only 2 out of 10 workers believe their manager is doing a good job in encouraging them to work at their best. By that same token, a recent survey by Robert Half shows that one-third (36%) of 1,400 executives felt the top factor leading to a failed hire is a poor skill match.

The skill to be an executive is important to have. The ability to lead, and to lead well, is one of the most important aspects of being a manager. If your company has a poor member in management, or at the executive level, it could mean their termination, and then a need to restructure their former department.

That can take a lot of time, and cost the company profits and productivity. Combined with the manpower by HR (Human Resources) to recruit, train, and manage new candidates, and you're looking at large losses.

You might need to fire employees to make up for the losses, and the restructure your company because of the loss of one key individual, or due to their actions. But you want to ensure that they, the employees, have the right tools to find work after their termination.

That's where an outplacement consulting company can assist you.

Outplacement consulting companies specialize in helping displaced employees make a smooth and timely career transition. Generally, an outplacement service is offered by companies as part of their severance packages, but if you do not have the ability to manage such an endeavor, a consultant could be a wise investment.

Encouraging your employees to talk to an outplacement consulting company, sponsored by your company, in the last days of their employment demonstrates that you care for your employee's well-being after their termination.

This can help make the termination action easier for companies to implement, and improve post-employment relations, which can help to prevent the disclosure of any proprietary information and bad publicity.

It can also have a good impact on the morale of the remaining staff, to know that their employer cares about their well-being, despite poor circumstances.

Worker happiness can greatly contribute to worker productivity, and so keeping morale high is important, especially among those that remain after terminations. Training and hiring new employees is far more costly than keeping current ones happy.