It's not uncommon for companies to offer outplacement services when mid-and-lower-level employees exit. But what about upper-level executives? While they may seem to have it all together, they may need outplacement help more than anyone else since the needs and goals of these executives differ from those of other employees. That's where executive outplacement comes in.
Executive outplacement services offer job search support through career coaching, resume writing, and internet presence management. Whether an executive is leaving due to M&A, performance issues, or a company shakeup, executive outplacement can provide the guidance and resources needed to start their next chapter. Read on to learn what you need to know about executive outplacement services, including how they benefit the employee and how they benefit the business that offers this important safety net.
Executive Outplacement Ensures a Painless Departure and Transition
Executive departures can be an inevitable part of any business, whether it is due to a restructure, downsizing, or other reasons. But it’s important to handle the situation in the most optimal and professional way possible. That's where executive outplacement can be a big help to both the company and the executive.
Outplacement services are a form of assistance provided to outgoing employees that help them transition to new careers, which includes everything from job search advice to skills training. Executive outplacement specifically caters to c-suite executives and senior management staff. Here’s how:
- Supports Confidentiality: An executive departure can be a sensitive issue, especially when it comes to confidentiality. It can often be a challenging situation for both the company and the executive. Providing outplacement services to the departing executive can help mitigate the situation. It ensures that the executive's information and job search will be kept in strict confidence, which provides both the executive and the company with peace of mind.
- Curtails Risk of Litigation: Executive outplacement services help mitigate the risk of any litigation from the departing executives. Outplacement services assist departing executives with finding new job opportunities, which reduces their potential motivation to sue the company. Moreover, in case of any legal disputes, the company can show that they have taken steps to support their departing executives, which strengthens their argument in court.
- Supports Goodwill: Offering executive outplacement services can help companies preserve goodwill and maintain a positive relationship with the outgoing executives. Companies are seen more positively when they make an effort to help their executives during a difficult time. This ensures that the executive, even after departure, has a positive view of the company, which can be valuable for future business interactions.
- Supports Team Morale: When one executive leaves, the entire management team may feel unsettled about their job security. One of the ways to reassure them is by providing outplacement services to their departing colleague. Demonstrating that the company has taken care of the outgoing executive can help alleviate the fears of the remaining executives, thus supporting team morale.
- Deploys Creative Approaches for Perfect Job Placement: Executive outplacement services are designed to help departing executives identify new career opportunities that are suitable for their experience, skill set, and aspirations. These services deploy creative approaches, such as job search coaching, resume building, interview support, and more, to help executives find their perfect job placement. Outplacement services also help executives discover new and exciting career paths that they may not have previously considered.
- Addresses the Unique Needs of Executives: Executive outplacement is much different than outplacement for lower-level employees. Executives have unique needs when it comes to their job search, and outplacement services can meet them. From aiding with resume writing to coaching executives on specific topics of interest, an executive outplacement firm like M&A Executive Search takes a promising candidate through the job search process, even providing consistent support through the first 12 months of placement in a new role.
Executive Outplacement Benefits Executives and Employers
Executive outplacement services can prove beneficial to both the company and the executive. These services can help mitigate risk, preserve goodwill, and maintain positive relationships with executives. It also fosters a culture of leadership and support within an organization. Remember, executive outplacement is not just about terminating an employment relationship but looking ahead and supporting someone's future goals.
Companies can show that they care about their executives, and that can go a long way in strengthening the company's reputation and overall success. By partnering with M&A Executive Search, executives and employers alike can create a unique partnership that leads to the perfect placement and long-term success. Contact us today to learn more.
