For all those of you that do not understand what outplacement services are, it is only career coaching services companies pay for to aid ex-employees at finding a new job.
Outplacement is typically awarded to people that are part of a layoff (a.k.a. at which the loss of a project is not their fault).
The Goal of providing outplacement is twofold:
It is a gesture designed to reveal the company cares about the worker’s future.
It (hopefully) shortens the time that the individual is about unemployment — that may save the company money.
How Can They Help Laid-Off Workers?
Outplacement companies typically provide help with resumes, cover letters, interview prep, and other facets of the hunt. Some provide seminars and workshops, but some offer you one-on-one sessions with coaches to talk about career goals and job search methods.
The kind of resources provided and the way that they are provided vary considerably. They also vary in cost range quite a bit also! Some companies charge anywhere from $2,000-$10,000 per worker for 3-6 weeks of outplacement support.
Are They Successful?
While the concept of all outplacement services is well-intended and makes sense, the truth is a lot of people have bad encounters with these firms, as written about in this Wall Street Journal article. I myself have heard many negative stories about outplacement services offered to laid-off employees. Their best complaints are as follows:
Coaches were not current on the most recent job search methods and supplied “poor” advice.
Materials presented in seminars and workshops were obsolete.
Access to internet webinars and materials was non-existent.
Opportunities to attend sessions were restricted.
To sum this up, the yield on the investment from the company AND the worker usually is not good.
5 Traits of the Finest Outplacement Services
Here’s a list of five things you should Make Sure That the outplacement service supplier you use can provide:
1. Comprehensive online video and written tutorials which could be obtained 24/7.
2. Step-by-step, guided instruction on job search together with milestones for achievement.
3. Checklist of all career tools required to locate work.
4. Extensive knowledge about the best way best to use the most recent job search technology (i.e. LinkedIn).
5. Ability to get career resources reviewed by career coaches.