Best Outplacement Providers in 2024
In a recent survey, 32% of employees said they work in a company that has experienced layoffs in the last three months.
If you’re on LinkedIn, this stat probably comes as no surprise, with huge companies such as Tesla, Unilever, and Spotify cutting down on workforce.
As an employer, you, too, might have to let go of employees in certain situations. If you’re wondering how you can still make their experience as positive as possible while protecting your company's reputation, outplacement support is the answer.
In this article, we’ll explore outplacement providers and examine some of the best outplacement software on the market.
What is outplacement?
Job outplacement is an employer-sponsored benefit often included in the severance package. It aims to support laid-off employees and help them find other jobs.
Outplacement includes various services, such as writing a CV, interview training, career coaching, and tips for job search.
Many outplacement consultants and consultancy firms offer these services, but many companies prefer outplacement software because they are scalable, accessible around the clock, and offer self-service capabilities.
What do outplacement software providers offer?
Outplacement software providers offer different facilities that support a company's outplacement program. Some of these include:
- Resume and cover letter assistance to help employees polish and fine-tune their resumes.
- Job search resources that give easy access to job boards and job search engines to find suitable jobs.
- One-on-one career coaching guidance, including interview tips, career planning, and industry networking opportunities.
- Some tools also help employees assess their skills, strengths, and interests to receive training and career guidance.
- An advanced applicant tracking system for outplacement firms that sources and evaluates candidates, ensuring a smooth transition for candidates into new roles.
Getting laid off often damages the employee's mental and emotional health. Outplacement software also helps these employees with emotional and psychological support.
Benefits of using an outplacement software
It may seem like investing in outplacement has no return, as outplacement software supports employees in their offboarding. However, there are many pros of using outplacement software.
Let’s look at the main benefits of using an outplacement provider.
Improve company reputation
Investing in outplacement software and having an outplacement policy sends a positive message about your company to current, past, and potential employees.
Even though involuntary employee turnover is an unfortunate reality for some organizations, having an outplacement program shows that you care for your people.
This compassionate approach not only supports affected individuals but can also earn your company goodwill and strengthen your reputation among future hires.
Improve employee morale
Losing a job is challenging for any employee. However, when employers communicate that they offer job assistance to help workers move on in their careers, it always uplifts employee morale.
When a company has mass layoffs, it’s also tough on the employees who stay—they might feel insecure about their jobs, need to take on extra responsibilities or lose a close coworker.
To maintain employee morale, you need to be transparent about changes and show your workforce that you care about them. For example, you can keep your organizational chart updated, communicate layoffs ahead of time, and offer outplacement to support departing employees.
Risk mitigation
Outplacement can help you protect your company's reputation when letting go of employees, especially during redundancies.
Employees feel upset and angry when they are laid off. As a result, they might resort to workplace violence or badmouth their company on social media and job platforms. Knowing their employer cares about them can reassure them and calm their emotional response.
Top outplacement providers
There are different outplacement providers on the market—software and service solutions. We’ll look at the best software for outplacement to help you scale your effort while keeping down costs.
LoopCV
LoopCV is a leading outplacement provider that lets an employee apply to hundreds of jobs automatically. The tool has diverse features that simplify job search. Here are some of the top features it offers:
Automated job search
The tool lets you create one or more job searches that work in the background, apply to jobs, or send emails daily. All you need to do is specify your job requirements and create emails (using the built-in templates or writing your text), and the tool will send job applications to different companies on your behalf.
Single dashboard view
For every job search on the tool, you can see the results in a single dashboard—-matches, applications sent, job ad source, and more.
Progress tracking
You can easily track each job application—-when you have sent it and whether the recruiter has opened the email. You can also rate your matching to improve your job search.
CV optimization
LoopCV uses machine learning to identify areas for improvement in CVs and recommends changes to find more jobs and optimize the job application process.
Job search Kanban board
The tool offers a Kanban board to organize your job search and give you a clear view of your progress, helping you make informed decisions.
You can also add new jobs from any website or platform to keep all your job search data in one place. There's no need to juggle multiple documents.
Recruiterflow
Recruiterflow is AI-powered recruitment software that helps outplacement consulting firms scale up their businesses. It combines an applicant tracking system with a CRM platform to facilitate candidate data management.
The tool has an in-built email sequencing capability. With this feature, outplacement firms can engage with potential candidates through personalized email sequences.
Recruiterflow also captures all candidate data from the inbox, allowing users to access it anytime.
The tool offers actionable insights, and some of the metrics it measures include:
- Conversion rate at each stage of the recruiting process
- Number of candidates' sources
- The efficiency of each sourcing channel
- Number of screening, submissions, client interviews, and placements
Thrive
Thrive offers curated career services, including coaching and access to learning and development resources.
The tool allows job seekers to search for open positions from its built-in job search engine and save relevant job postings from popular job boards. Candidates can also build resumes, optimize them for applicant tracking systems, and customize them for every job application.
Thrive also offers a name-blind search, i.e., it matches companies and candidates based on skills, lowering the risk of bias in hiring.
The tool has an AI-powered career path exploration feature for employees who want to pivot their career paths. It gives insight into the job market data for diverse industries and the skills required to enter them.
Insala
Insala is a career transition provider that enables companies to attract, engage, and retain top talent through talent tech solutions. The tool makes mentoring, coaching, and outplacement management easy and effective, helping employees on their personal and career growth journeys.
The career transition software gives departing employees access to coaching services and career and personality assessments to support their next step. They can also build their CV or resume using Insala’s template library.
Insala is a popular software provider for outplacement firms looking to demonstrate the success of their campaigns to clients. With data analytics and reports, outplacement consultants can show the quantitative results of their jobs or how long it took to place them in a new role.
Supporting your employees’ job transitions
Laying off employees is a bitter experience for everyone, but you can still send a positive message by supporting them in their job transition.
With an outplacement software provider, you can help your employees find their next job role, offer guidance in their career transition, give them access to job marketplaces and job search, provide interview techniques, and more.
Have you implemented an employee outplacement program at your workplace yet?