How HR Factor Saved a Company $420k With Outplacement Services in Guelph Ontario
By Nicole Carter | March 26, 2021 |
The Client Need
As a rapidly expanding, lean, mid-sized company our client was challenged with a difficult decision that involved making significant people changes within their leadership team. Two senior members of their executive were no longer a good fit. Change would have to be made in order for the business to realize their long-term strategic direction, but they lacked the in-house HR expertise to execute. In this case, it wasn’t a question of competency, but more so a question of fit, and without a HR Manager they were unsure of how to proceed. Here’s how HR Factor saved a company $420,000 with outplacement services in Guelph.
The HR Factor Approach
We quickly provided customized, knowledgeable guidance to support our client through the complexities and sensitives associated with executive level separations. In addition, we focused on ensuring that the impacted employees felt respected and landed successfully in more suitable situations.
We empowered the Employees by:
- Supporting them through the emotional aspects of their transition
- Enabling them to feel dignified and respected throughout the process
- Coaching them on how to effectively communicate the news to their families
- Preparing their updated and customized professional portfolios
- Determining their inner drivers, passions and strengths
- Performing targeted job searches that aligned with their newly defined goals
- Communicating their exit to future employers
- Helping them to understand the importance of continuing career and performance management
We empowered the Leadership Team by:
- Preparing them well in advance of the process, highlighting potential risks associated with “not for cause” terminations
- Coaching them in the critical weeks and days leading up to the employee meetings
- Helping them understand the complexities of executive separations and avoiding legal pitfalls
- Giving feedback on suitable transition programs to be offered to impacted employees, to help expedite their return to the workforce and save the business money
- Allowing them to remain focused on moving the business forward in the midst of significant leadership changes
- Managing the actual departure meetings as well as coaching them on their role during this time
- Acting as an extension of their team, yet an unbiased, transition expert while meeting with the employees
- Providing immediate follow up and guidance at the conclusion of each departure meeting and discussing the new path forward
A process that might have taken the employees 6-8 months on their own, costing the company several hundred thousand dollars in severance costs, turned into 6 weeks until new jobs were secured which resulted in approximately $420,000 in cost savings. Through the use of HR Factor’s personalized career coaching, and enhanced personal development tools, the transitioning employees felt empowered, respected and supported. This helped to ensure they were able to focus their attention toward positive outcomes, moving forward and charting new paths. Treating departing employees respectfully is absolutely critical in helping to achieve a successful results for all parties. In addition to a reduction in severance costs, it also helps to avoid potential litigation, which is beneficial for everyone.
6 week executive career transition that resulted in $420,000 of cost savings
The client was able to immediately get back to pressing business matters and move forward with their strategic vision. They also were able to realize a significant cost-savings from assisting their former employees with outplacement services. Empowered employees equals an increase in efficiency. In this case, both parties came out on top!