There are many reasons to have to let someone go. In the agency business, the most common one is a lost piece of business and corresponding loss in revenue.
These are incredibly painful and difficult things to do. But here’s one thing you can do to soften the blow: offer outplacement services to the impacted professional(s).
Here are five other reasons why you should consider an outplacement solution for your agency:
- Demonstrate your investment in people and relationships. Put your company’s values into practice.
- Reduce unemployment costs. Helping professionals get jobs faster and more efficiently reduces system costs.
- Mitigate legal risk. Helping people focus on their next career move may help protect your agency from potential legal remedies from disgruntled employees.
- Increase productivity from current staff. Ease transitions because everyone is impacted by staff change.
- Protect your brand and reputation. How important is your brand in attracting staff and new business?
Looking for some math? The Harvard Business Review suggests layoff survivors experienced a 41% decline in job satisfaction, a 36% decline in organizational commitment, and a 20% decline in job performance. This leads to higher turnover, higher future staff acquisition costs, fewer “A” players and increased risk of unhappy clients/lost business.
Here are just some of the outplacement services Thunderclap offers agencies:
- Resume review and improvement
- Job search best practices
- Coaching (weekly or monthly as needed)
- Market overviews (who’s hiring / who’s not)
- Positioning recommendations
- Interview research and prep
Thunderclap has always had conversations with candidates referred from agencies. All candidates seem to appreciate the insights and thinking gleaned from those conversations. But we amped things up a bit in 2020 as the pandemic impacted the industry and thousands of professionals were let go.
These services can be scaled and customized based on a shared understanding of what you’re looking to achieve.
Please contact us to learn more.