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Job Hunter Pro Outplacement
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Adaptive outplacement for more control, less cost and personalized support.
Adaptive outplacement for more control, less cost and personalized support.

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BENEFIT BROKERS AS OUTPLACEMENT PROVIDERS
For a variety of reasons, outplacement services have been segregated from other employee benefit offerings. In the past, this was understandable since traditional outplacement was episodic in nature, it covered a small portion of employees, and it was quite expensive.

Unfortunately, this lack of integration with other benefit programs and its limited use by employers substantially constrained its value. A better model was needed.

THE NEED
In the U.S., we have around 5.0 million total separations each month (around 60 million/year). Included are approximately 1.8 million monthly layoffs and discharges (around 21.6 million/year); a number that has changed little over the past 12 months.

Very few of those in need of job search assistance are covered by outplacement services. The rest are left to fend for themselves.

NOW THERE’S SUBSCRIPTION-BASED OUTPLACEMENT
Subscription-based outplacement mirrors the way other benefits are structured. It has broad coverage that spreads risk in order to reduce cost and it uses the more familiar per-employee-per-month (PEPM) financing model. More important, it costs a tiny fraction of what traditional outplacement costs.

Since it applies to 100% of the workforce, regardless of reason for separation, it can more than pay for itself through savings in unemployment compensation costs. Additional outplacement benefits can result in equally impressive savings. These savings can offset the cost of other employee benefits.

WHY BENEFIT BROKERS?
An A – Z Analysis
Should benefit brokers become the primary channel for outplacement services? Here are some of the reasons brokers and benefit consultants might be interested in offering subscription-based outplacement.

For the following, choose either “Outplacement Firm” or “Benefit Broker.” Then tally your score.

A. Who owns the primary employee benefit relationship with employers?
B. Who has the largest number of established customers and covered employees?
C. Who is among the first to know about upcoming changes in employee census?
D. Who has the broadest and most frequent access to HR and other benefit decision-makers?
E. Who has the greatest degree of influence regarding employee benefit selection?
F. Who has the strongest and longest relationship with the employer?
G. Who is better positioned to provide seamless integration of employee benefits?
H. Who provides the most consultative support for employer and employee needs?
I. Who benefits most by providing an integrated suite of employee benefit solutions?
J. Who knows the most about the employer and their employee benefit needs?
K. Who has the greatest long-term interests of the employer as their focal point?
L. Who wants to provide benefit “stickiness” that promotes on-going holistic programs?
M. Who is HR’s most trusted advisor and strategic partner?
N. Who is better positioned to provide measurable ongoing net savings?
O. Who can best demonstrate coverage along the entire continuum of employee benefits?
P. Who has the greatest ability to offer long-term socially responsible benefit programs?
Q. Who can offer employee benefits that have almost zero administrative overhead?
R. Who is most interested in a balance of high value, low cost benefit offerings?
S. Who can offer affordable benefits that cover 100% of the employer’s workforce?
T. Who is the strongest advocate of 24/7 employee benefit coverage?
U. Who accepts SaaS, cloud, eLearning and the like as addressing today’s user preferences?
V. Who wants to broaden the services and support they provide to existing customers?
W. Who wants to offer inexpensive employee benefits that are applicable to any size employer?
X. Who thinks unlimited scalability and integration are important in today’s benefit programs?
Y. Who would gain the most new business via a synergistic entrée into an untapped market?
Z. Who would gain a competitive advantage via a valued-added market differentiator?

WHAT DID YOU COME UP WITH?
If you chose “Benefit Broker” a few times, now is a good time to start thinking about what this can mean to your business model. It begs a couple of additional questions:

1) Should you add outplacement services to your employee benefit portfolio?
2) Could large brokers dominate the outplacement market within a year or two?
3) Will late adopters fall behind their more aggressive or innovative counterparts?
4) Will outplacement firms morph into the role of subcontractors or niche players?

WHERE WILL THIS TAKE US?
If the market favors a “Yes” response to the above, it will be good for brokers, good for employers, and good for outplacement firms (well some of them), but most important, it will be good for people … our working masses.

In the long run, outplacement may become mandated, as it is in some European countries. Until then, with a little luck, socially responsible outplacement for the masses will be within reach.

GETTING STARTED
For brokers, getting started is fast and easy. There are several options, including licensing, outsourcing, and strategic alliances. More information can be found at www.jobhunterpro.com.
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The Need for Outplacement

In August, the BLS reported that from January 2011 through December 2013, 4.3 million workers were displaced from jobs they had held for at least 3 years. An additional 5.2 million persons were displaced from jobs they had held for less than 3 years.  In January 2014, only 61 percent of the displaced workers were reemployed.

Addressing the Need

Changes in worker preferences and the use of new technologies are bringing outplacement out of the executive suite and into the mainstream.  Older outplacement models are being supplanted by modern approaches that provide broader coverage at substantially less cost, but continue to provide personalized support.

The latest adaptive outplacement models give employers greater control over plan design, coverage and cost. They capitalize on the latest technology to deliver highly personalized content, tools and learning paths based upon discrete employee needs.

New subscription-based outplacement plans go even further by providing the lowest cost ever. That’s because it is more cost-effective to pay monthly premiums than to pay for episodic events. It spreads risk and costs among many employers, and has the added benefit of providing on-demand coverage regardless of reason for separation or type of employee.
 
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Infographic: Selecting an Outplacement Firm - A due diligence approach
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