Outplacement is a new ship, not a lifeboat

Outplacement must become mandatory when a firm lays off employees in countries where there is no social security. Most employers do not do it voluntarily.

IT major Cognizant Technology Solution Corporation announced that it will exit its content moderation business, impacting around 6,000 jobs. The company additionally plans to lay off at least 7,000 mid-senior level employees over the next few quarters.INDIA TODAY

The very mention of the term “outplacement” seems to induce stress. Most firms bring in an outplacement firm when they are rightsizing. As part of the process, the outplacement firm offers career support to the impacted employees. Ideally, the support includes counselling for those who need assistance to get over of the emotional shock of being let go. Once the initial shock of getting laid off is over, the outplacement firms can provide additional support, including connection with a certified career coach who can provide guidance through the career transition process—including interview preparation and salary negotiation—and a branding expert who can help you craft a resume and update your digital profile. The outplacement firm can be your partner in disrupting yourself with a new set of possibilities.The outplacement firm acts as a bridge between the last employer and the potential employer. More often than not, the discharged employee tries to land a role in a firm within the industry. However, that is not always the case. In fact, post-layoff is a great opportunity for individuals to use this event as an opportunity to change to a different industry or to stay within the same industry but change roles. Finally, the most liberating option may be to use the career coach to explore a transition to a completely different career altogether.I think the 3 different scenarios would need some kind of introduction

Same industry, different employer

This is the option the majority of the impacted employees think of. It is also the option that would cause the least amount of disruption. Think of it like working in a different city or a different office in the same firm. The work is largely the same, but the colleagues are new. To land this kind of a role, work with your career coach to determine appropriate outreach to the key contacts within your existing network and to identify people who you need to add to your networking efforts. In addition to applying to those roles discovered by outplacement technology platforms, leverage your own networks to uncover those roles not yet listed and as an inroad to the hiring managers.When looking to remain in the same industry, domain knowledge is your biggest advantage. Here are a few ways to leverage your expertise:

1. Reach out to your erstwhile colleagues who are working for other employers.
2. Your previous managers who are working in another company are likely to be your ally in finding your next role.
3. Be flexible when you are looking for a new role. Be prepared to make a lateral move or even a step back in the position and pay. If you do a good job, your new employer will soon more than make up the difference.

Adjacent industry, same role

If you cannot find an opportunity in the same industry, consider doing the same role but in a different industry. It helps if you have had some prior experience in the industry maybe when you were in the early stages of your career. Start with those and then try adjacent industries. For example, if you had been working in a pharmaceutical company, an adjacent area could be a role in a medical equipment firm or a healthcare provider.

1. This is where you can leverage your soft skills and bring in a fresh approach to solving problems. You may be a great resource to help your potential employer reach a new segment of customers.Your operational experience and expertise are easily transferrable across domains.
2. When you write out your resume, highlight the transferrable skills that could benefit your potential employer.
3. When an entire industry is experiencing a slowdown or disruption, there is a greater chance of landing your next opportunity with a related industry

Adjacent industry, new role

This transition may take longer than the other two. You will have to overcome employer concerns over your lack of exposure to the domain and the role. In your resume, highlight your innovations and accomplishments that are most closely related to the new role. This can be a comforting factor to the new employer. This can also be the most rewarding if you can share the efforts you have made toward your own skills and career development. According to a Harvard Business Review study, 68% candidates who were let go landed a job within six months. Another 24% got their break in a year. So be prepared to wait for the opportunity. Meanwhile, keep networking and looking for ways to get experience through volunteering or taking classes.When considering a career change, here are a few things you’ll want to keep in mind:

1. Be flexible in your choice of location, position etc. This role is all about getting a chance to switch lanes while driving down the highway.
2. Consider getting some certifications to show that you are serious about the switch to the new industry.
3. Attend an industry conference where the top professionals of that industry gather. Use the coffee breaks to expand your network. Seek their advice to learn about opportunities and stay connected with them. Just because there is no opening today does not mean that something won’t come up in future. Staying top of the mind helps.

Disrupting yourself

If your company has partnered with a contemporary outplacement firm, you’ll have access to a personal career coach, branding expert, and access to a technology platform that delivers up to the minute job opportunity results as well as a cache of learning and support materials, videos and tools. Although it may not seem like it in the moment, a layoff may be just the nudge you need to do something you always wanted to, but never did. A great source of ideas will come from your hobbies and interests. A very well-known standup comedian was once selling recruitment software. He decided to try his hand at standup comedy by creating short videos of his act on YouTube. He also started offering to do short gigs at the comedy clubs for little to no money. Very soon, his popularity increased and the comedy clubs were more than happy to pay him the big bucks.In your case, it could be a new career as a chef or a musician. You could be a gig worker who teaches fitness to people! The more you delve into yourself and think of the moments when you are doing something and forget how much time you have spent doing it, could provide a clue to your new career. Take a break. Clear up your mind and see if you could really run your second career in a different space. Disrupting yourself may be the hardest thing to do. An outplacement firm can be your partner in launching your career in a different, more fulfilling direction. It does not have to be a lifeboat.A version of this appeared in my blog for Economic Times and Times of India dt Nov 1, 2019