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What are the Benefits of Outplacement Software for Outplacement Companies?
Mergers, acquisitions and workforce reductions are a reality for many companies across the globe. In the first quarter of 2019, the number of layoffs reached 190,410. This was 35% higher than the same period from the previous year.
A significant factor in this increase is that many companies, including Ford, HP and WeWork, are streamlining their processes. Through this action, they can cut employment costs by reducing the number of people needed to complete certain tasks.
For individuals and organizations going through a layoff process, outplacement can be a difficult experience. Organizations are looking for the tools and resources needed to make the outplacement process easier and more successful for everyone involved. That is why organizations are turning to outplacement companies for help.
As an outplacement company, you have two very different responsibilities:
Support Your Clients
Your first responsibility is to provide support for your client as a strong strategic partner. Your client is looking for you to help them get through this layoff without taking too many hits to their reputation. Your outplacement services will help your clients to:
- Improve retention and productivity for remaining employees.
- Reduce the risk that laid off employees will take legal action.
- Protect the organization’s brand.
- Support and uphold the organization’s values.
Support the Employment Candidates
Your next responsibility is to provide specialized career support for laid off employees, also called candidates, to re-establish employment. Keep in mind that many of the candidates, especially those with a longer tenure, will not have recent job search experience. They will be looking for guidance from your company to be successfully placed.
The types of support they need include:
- Planning for their job search
- Resume development resources
- Customized assessments to ensure the best employment match
- Coaching opportunities for career guidance
Fulfilling these responsibilities is made easier through the use of outplacement software. It makes utilizing your outplacement services a seamless experience for everyone involved.
Benefits of Implementing Outplacement Software for Your Outplacement Company
Technological advancements make it impossible for outplacement companies to be competitive without software. By investing in outplacement software, you can achieve benefits that are crucial to the success of your company.
1. Generate New Business with a Competitive Advantage
Your potential clients know that the most successful companies utilize outplacement software and they will be expecting the same from you. Offering the right tools and resources will set you apart from your competitors and show potential clients that you can efficiently and effectively support their needs.
By investing in outplacement software, you are positioning your company as a leader in the outplacement industry. You can leverage your existing team’s skills, along with outplacement software, to attract the right clients. This gives you the opportunity to increase sales by demonstrating a powerful technology platform when conducting sales and support presentations.
2. Increase Client Satisfaction and Retention
The tools and resources that you make available to your clients affect the success of their outplacement process. That is why it is extremely important to ensure that choose the right outplacement software for your company.
By providing clients with cutting-edge outplacement software, you create a one-stop-shop for their process to take place. This generates better quantifiable results for your clients and, in turn, increase satisfaction.
3. Create Long-Term Stability for Your Outplacement Company
Outplacement software helps your company to adopt a business model for long-term stability. You will have the ability to improve business process management through tools used for tracking candidate, client and business activity. Your administrative staff will experience increased efficiency, improved data quality and easy to extract statistical analysis of placement and service delivery information.
Outplacement Software Features
To take advantage of the benefits of outplacement software, you must ensure that the right software features are available. The solution should be an all-in-one system that provides tools for your client, their employment candidates, and your company.
To achieve the most benefits, we recommend that you focus on the following outplacement software features.
- Candidate Search Tool for managing all candidate information. These tools allow you to quickly access a specific candidates profile and track their progress.
- A Step-By-Step Guide for conducting a successful job search. Providing a guide for this process will increase the likelihood of achieving placement.
- Assessment Tools to assist candidates in achieving the perfect job placement. Completing and analyzing the right assessments can help candidates to focus on their strengths. This will allow them to realign their goals and determine their career transition path.
- Resume Development for each candidate. Many candidates will not have an updated resume. Provide customized templates that help them create the perfect resume.
- Access to Aggregated Job Postings from thousands of sources. When candidates can view their job postings in one place, they can successfully track their progress.
- Reporting Tools that allow your company and your client to track and measure the success of the outplacement process.
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