What is Outplacement?
‘Outplacement’ refers to the services provided by some companies to former employees who have been terminated due to downsizing. These services help the employee transition into the job market and make the job hunt that much easier. In these scenarios, the company hiring the outplacement services pays for the charges.
There are agencies that offer outplacement services to organizations that combine both psychological and emotional support to employees who have had to leave their previous job and start looking for a new one after a long time. They also provide practical tips and guidance to aid the job hunt.
Some outplacement agencies might even provide tools such as an office space or even set up interviews with prospective companies in order to make sure that the employee gets placed at the earliest.