As we face a number of devastating impacts of this pandemic, COVID-19 has really impacted our economy, our people and our nation. Although, I am feeling very fortunate to be sitting in the comfort of my own home whilst continuing to work daily, sadly, many others aren’t in this same position. We are forecasted to hit a 10% unemployment rate in New Zealand.
Whilst we understand in some cases these restructures and redundancies are vital for a company to survive, we also believe there are some additional steps that can be added to this process to not only emotionally support everyone involved, but to re-confirm their value to the team – this is where outplacement services come in.
What are outplacement services?
Outplacement services offer support to employees who have recently been made redundant – tailored to the individual. This can include emotional support and coaching, career planning, CV development and interview preparation.
What are some benefits of Outplacement Services?
- Emotional support
Being made redundant is no easy process for anyone and is often followed by endless worries and self-doubt. Having external support, and an expert that is readily available to work through planning and support, is one less thing to worry about.
We often forget about the emotional impact on the employees carrying out the restructure and redundancy processes – by adding in these levels of support, this alleviates some guilt through this time, knowing additional steps have been added to continue supporting their employees after exiting.
- Regain confidence, plan and take action
Facing unemployment can make many of us lose focus of the bigger picture. As professionals in the area of outplacement services, we can work with an employee to identify their strengths and how they could be valuable to other companies.
Working with a professional will create a clear picture of the market opportunities. Understanding some industries have been more significantly impacted by COVID-19, could an industry change be an option? This kind of change can be especially unnerving for some, however being able to recognise essential transferrable skills, and present these clearly with CV development, will be key to regaining confidence through this process.
- Improved engagement and productivity
By adding in these additional steps, albeit it’s resulted in some employees entering unemployment, you can demonstrate value and integrity. Spending 40 hours a week or more with our co-workers creates many friendships and seeing them go through redundancy isn’t easy for any of us, especially when it is so difficult to offer support through lockdown. Knowing that friends and colleagues will receive continued support in finding success will not only ease possible guilt but can strengthen the respect for both the management team and company.
- Better brand management
Many companies have worked for years to create their excellent record of employee experiences whilst working with them – how an employee is exited during a restructure shouldn’t change this. By putting your employees through the correct redundancy process and adding in extra support methods such as outplacement services, you can not only maintain the reputation of the business but improve the brand management through this process. Managing this process will allow you to increase retention of existing staff members, whilst promoting the brand for future opportunities.
If you are facing the impacts of COVID-19 and need support on providing outplacement services to your team, you may able to access up to $2,500 of RBPN funding. For more information, email us at email@example.com or call us on 0800 476 347.
By Sharn Rayner – Managing Partner, Business Advisory