When the economy is in a bad shape, companies are forced to cut back on their costs to survive. Unfortunately for senior employees, they are the first to go when downsizing happens. To provide assistance in this sudden career shift, companies offer executive outplacement services.
What is an executive outplacement service you may ask? This is a program used to make the transition a whole lot easier. Companies usually pay for this as a final attempt of helping their ex-employees. Activities included here are mentoring, career management and effective networking.
A personal coach will also talk to the employees to get an idea of how they want to move forward in their career. The coach will also provide great insights on where he thinks the employee will most likely excel in. Skills will be evaluated and hidden potentials will be brought out. Concrete career plans will be designed and professional curriculum vitae will be sent out.
Losing a job is not a pleasant life event especially when you have mortgages to pay and a household to support. Sadly, this is inevitable. So if you’re one of those who are getting cut, it would be prudent to take advantage of your company’s outplacement programs.
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