Outplacement

DEFINITION of 'Outplacement'

Assistance provided through a third-party company and paid for by a former employer to help a laid-off employee find new employment. Outplacement assistance may include career counseling and analysis, professional resume writing, cover-letter writing, interview practice, salary-negotiation advice and resume distribution to employment agencies and head hunters.

BREAKING DOWN 'Outplacement'

Outplacement services were traditionally provided at an outplacement firm so that the former employee could have access to office tools (such as a phone and computer) that he or she needed in order to write resumes and cover letters and find new employment. Today, many employees have home offices and may only need to visit an outplacement firm for career counseling, if at all, since counseling may also be done over the phone.

RELATED TERMS
  1. Credit Counseling

    Personalized counseling services that provide guidance and support ...
  2. Severance Pay

    The compensation that an employer provides to an employee who ...
  3. Job Hunting Expenses

    Costs that individuals may be allowed to deduct on their federal ...
  4. Special Employer

    An employer who receives an employee on loan from another business, ...
  5. General Employer

    An employer who loans an employee to another business, and who ...
  6. Employment Agency Fees

    An employment agency works to match employers with suitable employees. ...
Related Articles
  1. Managing Wealth

    Seven Considerations When You Negotiate Severance

    Someday the ax will fall. It happens in almost every career. Here's how to survive and move on.
  2. Managing Wealth

    The Layoff Payoff: A Severance Package

    If you must leave your job, go out fighting for the best benefits you can get.
  3. Investing

    The Complete Guide To Job Searching: The Resume

    Your cover letter will be accompanied by a resume. A good resume will explain why you are qualified for a job, and provide a brief summary of your experience, education and skills. Just as companies ...
  4. Professionals

    Resume Scribes Seal The Deal

    Find out how professional resume writers can help you land a coveted career.
  5. Personal Finance

    Smart Resumes For The Fashion Industry

    Here's what your need to know to tailor your resume to the fashion job you want.
  6. Retirement

    Find the Right Reverse Mortgage Counseling Agency

    How to hook up with a counselor who can help you make the right decision about this trickiest of financing vehicles.
  7. Professionals

    Rewrite Your Finance Industry Resume & Get Hired

    Looking for a job in the financial services industry? Here's how to write a resume that gets you noticed.
  8. Financial Advisor

    Life Insurance Plans to Help Your Small Business Retain Employees

    How to use and design cash value life insurance plans as an incentive to help attract and retain key employees.
  9. Personal Finance

    How To Write An Effective Investment Banking Resume

    A persuasive resume can give you the edge you need in a competitive market.
  10. Professionals

    How Long Should My Resume Be?

    This question troubles many people from beginners to senior executives. Here's a roundup of expert answers.
RELATED FAQS
  1. What are some examples of common fringe benefits?

    Learn how offering fringe benefits can be a strategic recruitment and retention tool for employers and drastically increase ... Read Answer >>
  2. Is credit counseling as damaging as bankruptcy on my credit report?

    Learn whether credit counseling is as damaging as bankruptcy. Bankruptcy wipes out all debts, but it can cut you off from ... Read Answer >>
  3. Will a 10-99 form make my taxes higher?

    My employer is not withholding taxes each pay day. Will this increase my taxes because they will give ... Read Answer >>
  4. What are some common questions an interviewer may ask during an interview for a position ...

    Discover the world of investment banking and learn what questions are likely during an interview for a position with an investment ... Read Answer >>
  5. What are some examples of a debt management plan (DMP)?

    Learn about some of the different types of debt management plans, and what you should look for when you evaluate a credit ... Read Answer >>
  6. What incentives does an employer have in offering fringe benefits?

    Learn how offering fringe benefits is a powerful business tool for employers to attract and retain quality employees while ... Read Answer >>
Hot Definitions
  1. GBP

    The abbreviation for the British pound sterling, the official currency of the United Kingdom, the British Overseas Territories ...
  2. Diversification

    A risk management technique that mixes a wide variety of investments within a portfolio. The rationale behind this technique ...
  3. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  4. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  5. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  6. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
Trading Center