Outplacement provision for groups and individuals as part of a settlement agreement
A settlement agreement is a legal arrangement between an employer and employee which defines and agrees the terms on which they will exit the organisation. Settlement agreements tend to be used in situations where the employee is not leaving voluntarily, such as redundancy, for senior staff whose financial package may be complex or where there is a dispute that could lead to litigation. A settlement agreement deals with things like:
I used this service and got amazing support for finding a suitable role, tailoring my CV, and facing the interview. This service helped me to bring my inner potential out and made me so confident facing difficult and tricky interview questions. I highly recommend this outplacement service.
Being made redundant after 24 years was daunting especially during Covid. Jasmine helped me with my CV and covering letters. I was offered 2 jobs within 2 weeks and start soon. Don’t think it would have happened without outplacement support. Great service. Thank you.
I would highly recommend this service and really found it instrumental in supporting me through a period of change and development in my own career.
My background has been years of headhunting so you would imagine I should know it all when it comes to career advice and career management, however when it comes to your own career, having a professional to discuss to help reevaluate yourself, your experiences and consider the next steps was invaluable . The consultant I worked with was Matthew Dunsmore. His was thoughtful, encouraging, patient, offering practical support and a truly professional consultative service. Thank you.
Reviewing the provision of outplacement services is essential before signing a settlement agreement. Here are some of the most seen elements, which should be detailed in the document.
Funding for outplacement services offered by the employer is a benefit that helps employees move on to other suitable roles in employment or self-employment or prepare for retirement. The funding for outplacement is separate from the final salary payment and other remuneration such as bonuses and doesn’t count towards the £30,000 tax-free allowance for monetary awards. Outplacement funding is a tax-free benefit.
Outplacement was selected to provide 1:1 programmes for senior and director-level staff based on our reputation for delivering individually tailored services and our established experience at this level. Long-term employees were offered a comprehensive package as part of their settlement agreement, including 1:1 sessions at our offices with a peer-level consultant, plus an in- depth career assessment to ensure they had the correct career objectives for today’s job market. Bespoke consultancy helped each individual on the pathway to achieving their goal with successful outcomes across the board.
Outplacement.co.uk worked alongside another provider in this sector to top up where our companion contractor did not have the experience or expertise to deliver 1:1 programmes for middle and senior management personnel. As part of the settlement agreement, we offered a three and six-month programme dependent upon the length of service and seniority, with a 100% hit rate.
With Outplacement, we receive many varied questions from HR Teams, Individuals, and Business Owners. We’ve tried to answer some here but please feel free to chat to us or fill in the form for more information
Exiting employees are not obliged to use the outplacement services commissioned by their employer. Still, in signing the settlement agreement, an employee does agree to the monetary value of the services being provided. They may not suit the needs of the employee if they are limited to simply finding a new job and that individual wants to explore the possibility of self-employment or starting their own business. Some outplacement packages offer more 1:1 time than others. Scrutinise carefully the package on offer, its duration, scope and value. You may wish to accept the monetary value of the outplacement service but choose a different provider.
The answer to this depends upon what you are trying to achieve. Target setting is essential for everyone, but what follows is dictated by whether your journey is within employment, self-employment or retirement. Before you sign a settlement agreement containing an outplacement provision, consider how outplacement can best help you and ensure the services are suitable for your needs.
Discuss your requirements with the employer before you agree to sign the document. You can source services which you think will suit your specific needs better and ask the employer to agree to these, providing they equate to the monetary value of the package proposed in the settlement agreement.
