Sometimes companies have to downsize. That’s just the world we live in. At the same, we live in a world in which the large companies, and even some small ones for that matter, can be seen as the greedy enemy, always out to save their bottom line. Companies these days have to be image conscious both in good times and in bad. That means that if your company is finding itself in a position where it must let go of some of its staff, finding a quality outplacement consulting firm might be the best way to make something good come out of a bad situation.
Retention is a problem in business everywhere. It is viewed as a problem by 57% of companies. At the end of June 2015, 2.7 million workers left their jobs and moved on to something new. This number was up 25% from 2013. In this day and age, employees are not staying with only one company for the duration of their careers.
Businesses everywhere are dealing will the same problems of having to train new employees on a relatively regular basis, not to mention finding quality people to do the jobs required. When an employee leaves, for whatever reason, the costs to the company can range anywhere from 30% to 150% of the employee’s salary. In addition, if an employee is released, they will most likely collect unemployment insurance. Helping an employee find new work can benefit a company in many different ways.
Outplacement services like an outplacement consulting firm can assist recently terminated employees with their jobs searches. A number of these companies have solid working relationships with human resources consulting firms or are human resources consultants themselves. They are up to date with all of the trends in hiring in the world of business and can very likely work within your business’s niche.
Keeping a relationship with your outgoing employee by helping them leave on good terms could very well be a move that could yield positive feedback in times to come. If you experience growth and need to hire an expert in a certain field that you had to downsize earlier, parting with that employee on good terms could help you bring him or her back. This could save you thousands of dollars in expenses when it comes to hiring and training someone new.
An outplacement consulting firm is never something that you are required to employ. But in this day and age of businesses getting the bad rep for treating their employees as expendable line items on a budget, bringing one on could boost your image as well as save you money in the end. It is always smart to weigh all of your options.