In view of possible economic slowdown companies have realized that right-sizing, cost structure and alignment are certainly on the cards and hence are resorting to outplacement – a smoother way of lay-offs. According to recruitment service provider GlobalHunt, many a companies are roping in third party consultants to find new employment for the laid off employees. Outplacement is generally done either when companies do not want to get into mass lay-off numbers or they do not want to be tagged for sacking.
The trend is more visible in the sectors such as BFSI, telecom, engineering and IT. Companies are helping outplace those employees who are not required as per the thin structure of the company so that there are smooth exits and employees get to explore opportunities available in the market with mindset to work harder and sustain their jobs. This helps the companies create a positive brand image which in future helps them in attracting talent pool.