Global Outplacement Services: The Trends of 2020

Apr 17, 2020 by

An enlarged downsizing, rightsizing, redundancy, and layoff rates have been prompting the outplacement services market growth. Moreover, the expansion of multinational companies across all industries because of globalization is stimulating market growth. These enterprise movements make outplacement support increasingly relevant, now more than ever.

While investing in outplacement services has many significant advantages, most companies fail to realize its relevance. After all, assisting an outgoing employee seems like a waste of limited company resources. However, the advantages mentioned above include improved retention and productivity of the remaining employees who may have been stressing due to the recent layoffs.

Global Employment Trends

Even with its evident advantages, outplacement service providers have it tough as they need to provide strategies that satisfy the expectations of their clients continuously. In recent years, there has been a rapid change in several areas that will have a significant impact on how outplacement service providers serve up to outgoing employees soon. These trends will continue to change how they structure their services and will further drive the adoption of flexible outplacement solutions.

Here are the most recently observed trends that are significantly affecting outplacement services:

Flexibility as a Top Feature

A gig economy is generally characterized by the prevalence of temporary jobs where companies tend to hire contractors and freelancers instead of full-time employees. This growing gig economy drives higher demand for flexible work. About a third of the US workforce participated in freelance work in 2015, and this number is continually increasing.

Not only is this true for the US laborers but the entire global workforce. This growing trend has drawn workers to favor control over their work schedules and expect flexible work arrangements. The only offer that ranks above flexibility is competitive pay.

Outplacement service providers feel the pressure to find ways on how to incorporate this trend into their career counseling and job searching techniques. This need for flexibility and control may potentially become an issue for recently laid-off employees looking for work.

Expectation of Immediacy

When it comes to getting laid off, one of the first things that come to mind is “what is next.” The primary function of outplacement services is to aid laid-off employees as they transition to new jobs coupled with quality job search counseling to ensure that they find another job in the shortest time possible.

The key phrase in this statement is “the shortest time possible.” People are expecting quick results as they want to reduce the time between getting laid off and starting their new job. Not everyone can afford to stay unemployed for weeks, especially when they only have one source of income.

Fortunately, outplacement service providers are finding effective ways to fulfill this expectation. For employees who got laid off because they have outdated skills, outplacement services focus on identifying ways to translate those skills, making them relevant to the current workplace.

Mobile Accessibility and Technology

While millennials appear to be the most tech-savvy of the current workforce when it comes to job searching, they are not the only workers who need immediate access to software and services. Over the years, technology continuously emerged as the most vital part of the job searching process.

Mobile technology and its massive utilization have significantly changed the recruitment and employment process for most companies. In fact, Glassdoor reported that more than half of their visitors accessed their site through mobile. Businesses now post job vacancies through online employment platforms. Even on social media sites, job seekers can easily navigate through their mobile devices.

This trend has led outplacement service providers to produce their mobile access providing their clients with great convenience. Mobile accessibility removes common barriers to adoption and offers immediate response to schedule changes.

Essentially, this technological trend is getting employment procedures towards a more paperless process. It may pose an issue for less computer literate employees, especially those in the older generations. However, an agency can efficiently address the problem by incorporating this aspect into workshops and career transition training.

Starting A Small Business

Most employees who own their jobs pour pride and effort into their work with the hopes of getting that promotion or anything that resembles career growth, and getting laid off instead, would be a huge slap in the face for them. While being let go from a long-time job can be tough, many outgoing employees are taking this set back as an opportunity to start their own business instead of working for someone else. Given the challenges of searching for a new job, many people decide to make immediate use of their skill sets to start their own business.

Outplacement service providers recognize this trend by assisting former employees with their business endeavors. They put in more time and effort into researching potential business ideas, including recommendations to make the business venture successful.

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