With worldwide economic slowdown and market indices touching low, retrenchment, downsizing, work force rationalization, job loss, strategic business units closure, mergers and acquisitions are the most common terms. What are the first-hand consequences of these business terms?
More often it is employees parting from their organization and being forced out of the job before they had planned. It is here that the services of an outplacement agency come in the forefront. Outplacement is a process by which the exit of an employee from the current organization is made smoother by placing the individual in another organization analyzing the potential and skill set of the person.
The outfall of a major business decision in the face of globalization might be parting with few hundred employees to several thousand working people. Thus retrenching becomes the order of the day and it is quite a complex process. An executive business decision for an organization might be a life changing situation for the parting employees. For some, it becomes a blow to their morale and often people begin to suffer from low self-esteem upon this eventuality. Additionally in countries like India, there is no unemployment benefit and neither any social security system exists, further fuelling extremely low self confidence.
It is here that the outplacement consultants can help motivate the parting employees to work effectively for a better opportunity. Outplacement agencies can help people find alternate jobs matching with their skill set without much compromise on the financial standpoint. The services of the outplacement agency can be beneficial for all-for the parting employees who get opportunity to work elsewhere; employees who are working need not to be scared and hence the productivity and efficiency is not hampered as they can feel assured that an alternative is possible and last but not the least the organization benefits from its brand image remaining unscathed.
The outplacement agency provides with programs of counseling, coaching and training to meet a specified personal goal and to achieve greater benefit from a systematic job-search process. Thus, a transition at no cost can be made smoother if the concept of outplacement is more formalized particularly in the emerging economies of the world.
Thus, an outplacement agency can ensure better lifetime career management but one thing must be kept in mind that some norms also need to be put in place so that the under performing employees might not develop any kind of feeling of complacency that might lead to counter-productivity.
With the given economic situation, I feel an efficient outplacement agency can bring forth a win-win situation for all.
Wednesday, January 21, 2009
Outplacement-A concept that helps grow amidst loss
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2 comments:
:::relaxed sigh:::
How I wish people who are forced to exit know some trustworthy outplacement agencies. The more the downsizing continues the more people will have to scout for these I guess. I empathize with their feelings!
But same time I thank god for having chosen to be a freelancer, no recession will kick me out, no boss over power me....!! In fact recessions make me learn more skills. I think I am priveleged and you too!
This is a good concept.. But I somehow feel that it wont really work when world economy is down with one of the biggest recession. How are the agencies going to find the right job when almost all the companies have freezed hiring??
But ya.. I also feel these agencies can definitely smoothen the transition by couselling employees, making them realise their strengths and weeknesses.. these kind of agencies are more helpful when the economy is little more stable.
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