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Companies often use Career Transition Services to manage layoffs. This article looks at the benefits of outsourcing this service to an expert.
One of the contemporary HR practices that has changed the way people think about retrenchment and lay-offs, is Career Transition Services (CTS). Simply put, CTS is the service provided to an employee who is being handed the pink slip. Organizations engage specialized consultants to offer this service.
But, let’s first look at the few reasons why organizations retrench people. One, and most poignant, is the change in Strategy. This could mean anything from the decision of the parent company to enter or withdraw from certain geographies, consolidation of their businesses, change of location within the geography, withdrawal of certain products from the market, change in people strategy etc. Sometimes mergers and acquisitions can result in laying-off people.
The other reason could be a change in Performance Strategy for re-distribution of available competencies or re-skilling. Productivity studies, efficiency and effectiveness parameters are all then introduced parallelly.
The Career Transition Services is offered to help employees go through separation, and provide professional services to handle the transition. These specialist organizations have both psychological and career counselors, who work with the employees in providing alternate meaningful careers.
The Career Transition Services also include resume sprucing, support in getting them onto social networking sites, helping them in their job search, and providing the necessary contacts for networking. If the specialist organization also has a recruitment wing, the candidates are also placed in other organizations that the specialist works with. Typically, the company that engages the CTS provider pays for the service.
Though CTS is a well known phenomenon in countries like US, UK, Canada and Australia, it is less common in India, where companies engage recruitment consultants to do the job. CTS services are a good alternative which help companies manage transition in a more holistic fashion.
Posted by Minerva HRMS at 11:52 AM
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Labels: Career Transition, Competence, HR Function, HR Strategy, India, Layoffs, Networking, Recruitment Consulting, Retrenchment
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