First of its kind RiseSmart study reveals that 85% of the employee respondents are aware of outplacement and 72% of those who experienced a layoff were offered outplacement services by companies in India
Key India context survey findings:
- 42% of employee respondents interviewed reported they had been laid off
- 97% of respondents who used outplacement services felt they were beneficial
- 85% of respondents said their exit process was managed well by their former employer
- 84% who have experienced a layoff in the past would consider paying for a career coach
- 88% would consider paying for a recruitment agency to source and deliver job leads
- 79% of the employees surveyed said they would return to their former employer if offered the right position
INDIA, 12th April, 2018 – RiseSmart, a Randstad company, and the leading provider of contemporary career transition services for organizations, today announced the findings of its India survey, Brave the Change. The survey shows the extent to which Indian employees are aware of outplacement services and the extent to which they value those services. RiseSmart’s Brave the Change initiative is focused on helping employees and employers understand that even in scenarios like layoffs, they can brave the change with the help of the right outplacement services.
RiseSmart’s Brave the Change survey polled more than 1,000 employees across mid-sized and large businesses in India. The survey concluded that employees in the IT sector experienced more layoffs in comparison to employees in other industries. Those surveyed displayed greater awareness than expected of the concept of ‘outplacement’ and career transition services.
Outplacement services are supplied by companies that specialize in helping employees land new jobs quickly following a layoff, or involuntary separation from a company. In addition, outplacement providers support the organization and HR leaders to follow best practices for managing a layoff, and aid those employees who remain after a layoff to return to productivity. Even as the economy improves, layoffs—due to cost cutting, reducing redundancies after a merger or acquisition, and restructuring events due to changes in the industry—remain commonplace and continue to shape our business landscape in India.
In the Brave the Change survey, 42% of the employees surveyed stated that they have been laid off, and of those, 62% were laid off within the past year. Further, approximately 20% said that after a layoff, the first thing they would do is set up alerts on search engines and job boards, followed by getting registered at an employment agency and going to social media to write about it. Employees also went a step further; 84% of those who have experienced a layoff expressed their willingness to pay for career coaches.
72% of the employees surveyed admitted that they were offered outplacement services post-layoff; nearly all said the outplacement services offered to them were beneficial. For a number of years, India has been one of the world's top employment generators, but hiring has plummeted recently and layoffs are hitting companies, big and small. As layoffs can affect the employer brand directly, RiseSmart’s research has confirmed that companies are using outplacement providers to ensure that the process goes smoothly, and with minimal impact on employer and employees.
“While outplacement services are somewhat new to Indian organizations, companies associated with U.S. parent organizations or partners are quite familiar with the service,” stated RiseSmart’s Director of Operations, Joel Paul. “Our customer base is enjoying the benefits of outplacement, including better employer brand reputations and less legal liability than their counterparts who don’t offer outplacement. Our success rate for placing individuals into new jobs continues to grow with job seekers using our services are landing new jobs on an average of 87 days – much faster than they could on their own.”
RiseSmart's contemporary approach to outplacement and redeployment services combines personalized employment coaching with patented, cloud-based technology for job seekers. The company provides its corporate customers with a range of outplacement services, including training and cloud-based reporting technology, as well as a line of sight into progress and results.
Each employee that participates in RiseSmart’s outplacement program is partnered with their own career coach trained in International Coach Federation-accredited methodology. On average, RiseSmart’s career coaches have twelve years of HR and recruiting experience. These career coaches provide answers to job seeker questions about the local job market, help develop networking and interviewing skills, provide emotional support, and help create the right behavioral changes necessary for employees to land their dream jobs. Combining a one-on-one career coach with sophisticated job matching technology, and a dedicated branding expert to write resumes and cover letters, allows RiseSmart to help employees get back on their feet faster.
RiseSmart, a Randstad company, is the leading provider of contemporary career transition services for organizations in more than 40 industries and 80 countries. In India, RiseSmart has offices in Pune. RiseSmart’s “beginning to beginning” approach combines dedicated career coaching and personal branding with patented technology and tools to support transitioning employees. RiseSmart partners with HR teams and provides onsite support, specialized training and secure reporting in a results-oriented approach. For more information, visit www.risesmart.com/en-in.