Considering the Cost of Outplacement

There is not always anything or anyone that can be done about a workplace particularly that most dreaded of all processes. As an employer, it can feel wrong that you are admitting to failure by letting your employees go, but at least you won’t be sending them away because of the help of outplacement support you will be sending them to somewhere they can turn. So how do you consider the best company considering the cost of outplacementtraject and one that cater to your needs?

Consider the following factors and you’ll always make the right decision not only for you but also for your departing employees.

Factors

Value

More often redundancy comes about due to financial difficulties. Outplacement is a paid for service, and you will no doubt be seeking the value of the money from this particular transaction. However, the value is not always imbued by the low price. While you are considering the cost of outplacement, you should also consider the value and quality that you will be receiving.

Service

What kind of duty will the outplacement firm be providing to the departing employees? That’s the question an employer should ask him/herself. Service provided is one decision you will need to make if your displaced workers will benefit from a group or one-on-one outplacement. If your budget permits, individual outplacement is the most suitable one since it gives the employees a one-on-one interaction which will help them move on quickly.

Any minimum fee requirement

Another cost factor to consider is outplacement firm gives you the right to select outplacement services according to your needs. Also, determine whether the payment requirement will charge you only for the number of displaced employees you have even if the number is only one person.

Length of the provided time support

Another factor to consider when considering the cost of outplacement is the amount of time you would feel the displaced workers would need the outplacement support. And if you are charged if the displaced employees decide to contact the outplacement firm for help, or you will be charged regardless whether the displaced employees receive support or not.

Experience with other firms

It is important for the outplacement firm to have experience with other companies. It’s advisable to check with the previous company that they might have worked. If the firm is highly recommendable and the cost is the same, then you should highly consider that company.

By considering these factors then you can develop selection criteria for reviewing the firm that offers the best cost in outplacement to best meet the needs of your displaced employees while adhering to your budget.