5 Key Factors to Consider When Selecting an Outplacement Firm
by Quest Outplacement
With today’s economy, more and more companies are finding
themselves faced with the situation of having to reduce headcount to remain
competitive. Here are five key
factors to consider when selecting an outplacement firm if your company is ever
faced with a workforce reduction.
1
Types of Services Provided. One decision you will need to make regarding outplacement is
whether your displaced workers would benefit most from group or individual
one-on-one outplacement. For the
majority of outplaced employees, if your budget permits, individual outplacement
is the preferred option since it provides one-on-one support that will help them
move forward more quickly than they would on their own.
If you decide they would benefit most from individual
outplacement, you will then need to determine what services would be most
valuable to your displaced employees. One
option would be to select an outplacement firm that develops their resume and
cover letter for them. Another
option would be an outplacement firm that offers office space and a computer for
the displaced worker to prepare their own job search materials.
2 Areas of Specialty. Another
factor to consider when selecting an outplacement firm is whether it is
important to you that they have experience working with the type of displaced
employees you will be sending them. A related factor is whether it is important to you that the
outplacement company specializes in dealing with companies like yours.
If their areas of specialty are important to you, review
the outplacement company’s web site and other marketing materials to see what
their specialty is or ask them directly. If
an outplacement firm’s expertise lies in serving large companies displacing
administrative staff and your small business is displacing experienced managers,
this outplacement firm may not be the best fit for you.
3
Experience with Current Job Search Practices.
How important is it to you that the outplacement firm be experienced with
Internet job search techniques? Is
it likely that the Internet will play a key role in your displaced employees’
job search strategy?
If you determine that Internet savvy is an important
evaluation point for an outplacement firm, check to see whether the outplacement
firm recognizes the importance of the Internet by having a web site.
Are they aware of the top online career sites?
Do they offer a service to post displaced employees resumes on these top
online career sites? Do they have
the ability to distribution resumes electronically to a select group of
employers and recruiters?
4
Length of Time Support is Provided.
Another factor to consider when selecting outplacement services is
the amount of time you feel the displaced worker would require outplacement
support. In general, the more
senior-level the position, the longer it will take the displaced employee to
find suitable employment.
A second time factor to consider is whether the displaced
worker will receive ongoing one-on-one scheduled sessions with a career
transition consultant or whether the ongoing support merely includes access to
job search support materials.
5 Costs. Outplacement
costs must be considered when selecting an outplacement firm.
Check to see whether outplacement costs are clearly defined and stated on
the outplacement firm’s web site and in their marketing materials.
Are
there affordable packages available that provide the services you feel your
displaced employees would most benefit from without providing unwanted services?
Another cost factor to consider is whether the
outplacement firm gives you the able to select outplacement services a la carte
to meet your needs. Also determine
whether the outplacement company has a minimum fee requirement or whether they
will charge you only for the number of displaced employees you actually have
even if the number is as few as one.
By considering each of these five factors you can develop
effective selection criteria for deciding on an outplacement provider to best
meet the needs of your displaced employees while adhering to your budget
constraints.
Copyright 2001-2009 Quest Career Services, LLC. All Rights Reserved.
Reproduction of this article is prohibited without the written consent of
Quest Career Services, LLC.
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