Outplacement and career transition services is one of the few industries that has experienced increased activity during COVID-19 but has still gone unnoticed. Outplacement services help employees make the next career move as smoothly as possible when an organization has to let go of some of its employees due to a variety of reasons. Occurring at the fag end of the hire-to-retire cycle, outplacement was traditionally regarded as a necessary evil by organizations to avoid negative publicity. However, as employee experience and employer branding rise in importance due to a widening talent demand-supply gap, outplacement has started becoming more mainstream in organizations’ employee-focused strategies.
With an increased focus on responsible employment, it is not just large-cap companies that are engaging in outplacement but also small and mid-market firms, which have started deploying these services to benefit their workforce. While the surge in the demand for outplacement and career transition services could be temporary, the adoption of these services will continue to increase in the near future.
In this research, we highlight how the outplacement services industry has transformed into career transition services over the last few years, the key drivers behind that shift, how COVID-19 has accelerated these changes, and the evolving service provider landscape.
Scope
Industry: outplacement and career transition services
Geographic focus: global
Contents
In this report, we focus on:
The need for outplacement and career transition services
The evolution from outplacement to career transition services
The impact on enterprises
A mini compendium (non-exhaustive) of some of the major service providers in this domain
