How hard is it at the top for the directors?
Colin Lloyd, a personal career management coach at Leeds, examines why placement placement for directors, included as part of a compromise agreement, is important to the individual and the company.
The average length of a director’s tenure in the UK is just over five years. However, they are more likely to find themselves out of work unexpectedly than their less senior colleagues.
As companies respond to the ever-changing world of business, the possibility of mixing a meeting room almost always exists. Replacing a CEO raises the possibility of a personal conflict with existing board members that could result in unexpected departures. The preferred departure method for a director is through a compromise agreement since the confidential nature of the agreement protects both the company and the outgoing director.
Once a decision has been made on this course of action, the speed of exit is fast and this can have a dramatic impact on the individual in terms of his well-being and how he approaches getting his next job.
Many larger and forward-thinking organizations will include a Director Outplacement plan as part of their compromise agreement.
The benefits to the employer go beyond doing the right thing for the outgoing manager, it can reassure others that the organization will do what they can to help them if further changes are needed. From an external point of view, they protect the company image and the branding of the employer, it is very important when it comes to recruiting employees especially at the senior level.
When a substantial increase in settlement payment is not appropriate, providing a cost-effective outplacement plan can help close the deal. For the individual, knowing that he has expert help available to him immediately, can help reassure him that they are not alone and provide him with important emotional and practical support during a particularly difficult time.
Post-epidemic labor market
God The labor market is changingWhat worked in job search five years ago is probably not so relevant today so working with a specialist who is familiar with current trends and employment markets means that a person is more likely to return to work earlier.
A custom out-of-place placement plan can make a huge difference in an individual’s employment prospects and provide critical emotional and psychological support when people may feel most vulnerable and may be insecure if they ever work again.
When examining which type of program is most suitable for a person both life expectancy and seniority should be taken into account and not just status. It could be argued that a board member with 10 years of service may justify a longer plan than a CEO who has only served a year or two in office.
A place for directors is more relevant than ever and finds its way back to the corporate agenda and for good reason. In today’s work environment, where the attraction, retention and continuous pursuit of experienced talent are critical to the success of the organization, against the background of the epidemic, it is an important part of the business strategy of the people.
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What is Outplacement?
Get Outplacement services included in your redundancy package