Outplacement Is The Reflection of The Values of An Employer: Ankkush Puri

Outplacement industry to see a rise in post-COVID India

The scenario is a bit more complex than meets the eye. While all of us know how the different sectors are behaving, a recent report published by Mckinsey says 39 per cent respondents expect their workforce size to decline over the next six months (up from 24 per cent in March), which is the highest share to say so since April 2009. I guess India should reflect the same.

There a few sectors and a few organizations that are genuinely hit viz. auto and assembly, aviation, tourism, manufacturing, infrastructure, real estate, retail – especially goods with elastic demand, travel, transport, logistics media, etc. The recovery rates may vary depending on the nature of the business.

It's not the sector but the intent and the values of the employers that will define if the outplacement industry will see a rise. In my opinion, the organizations that are hit have a mix of those that live Quarter On Quarter and the Humane Social Contractors (I call them QOQs and HSCs). The QOQs will drive the demand for Outplacement. The ones who are genuinely hit and even the ones who have deep pockets but will announce redundancies to book profits to maintain their track record or better it. Of the HSCs, it will be a few, who do not recover fast enough and the ones who do not have deep pockets right now.

Outplacement processes to be followed by firms. What companies are up to?

What we must keep in mind is the purpose of the service. A lot of feedback floating around by professionals who have been exposed to outplacement services, tells us that though employers are providing outplacement support to their employees, the employees are not seeing enough value in the service.

The process has to be outcome-driven which means it has to result in tangible job opportunities, otherwise, nobody benefits from it – not the employer providing the service,

nor the employee. In the absence of tangible outcomes, the very purpose of providing outplacement support to employees is defeated because the same employees feel even more cheated and disowned by the employer, and even after having spent a good amount of money, the employer is left with a set of embittered ex-employees in the market who leave no chance to blow the employer’s reputation to smithereens.

You have been one of the earliest and amongst the experienced in the Outplacement Industry in India. How would you define outplacement?

I'd love to call it a reflection of respect that an employer assigns to the loyalty of an employee, a reflection of the employer accountability and a reflection of the values of an employer.

How often do we see organizations asking or rather demanding employees to display loyalty towards their employers, even when employees have choices? This is the time, an employer is required to demonstrate the same sentiment for an employee when the employer has choices.

However, in terms of a process, it could be termed as assistance provided by an employer to an employee whose role has hit redundancy, to find gainful employment, elsewhere. This could be done by the employer, internally or through external specialised service providers.

Outplacement is not just a phase. Is it here to stay for long?

I think the outplacement industry is here to stay. In the short term, it will be a vector effect of COVID impact and the ability of the government to create jobs through investment flow into India but in the long term, it will sustain as a service, as India is going to be the centre of the action. Mergers & Acquisitions, disruptions will keep driving the demand for this service.

The local Indian companies and medium-sized organizations will hop on as subscribers to the service as they become more sensitive to their image as an employer.

This is also one of the reasons, why this sector will see a large number of domestic players spring up in the near future. The industry will see pressure on margins and customers will demand higher tangibility in terms of value i.e. job support.

It’s a service that we have imported within the country. It’s time for localization. As more and more Indian units of MNCs earn the right to choose their outplacement partner, they are going to demand a service that is suited to the needs of an Indian employee and an Indian job market. The Impacted employees and employers are going to demand a higher value per Rupee spent in terms of higher placement ratios or success-related fees.

It’s an industry that will grow, but like any growing industry will see shrinking margins, the evolution of niches and clear segmentation.

What is one powerful message you want to share with people to inspire them who have lost their job in this crisis or are on the verge of losing it?

You grow, when you are pushed outside your comfort zone. This Is not your doing, but what you can do is make deliberate choices about your capability, your career, your employer (QOQ or HSC), now. So choose wisely, it’s an opportunity.

How are you keeping yourself sane and upbeat during these tough times?

You find answers in questions. My questions led me to a newfound equilibrium within myself. It is so important to shake off the dust and rediscover yourself. Identify your drivers, filter opinions and options and do what resonates with your inner being. I got busy supporting friends, businesses and professionals, driven purely by the love for the task at hand and/or

the love for those whom I was supporting. Apart from this, I’ve been learning and attempting to Master some areas of interest that were long overdue in my mind. I’m not only sane and upbeat today, but possibly the happiest I have been in the last couple of years.

According to you, what skills and professions would see an upsurge in demand in the New world?

I think the picture of the New World is far from clear. COVID has accelerated our transition towards the new realm x times. The changes in our behavioural patterns will shape up and be visible like ripples, one after the other. How many? We don’t know. So we change, customers change, businesses change and keep changing. In a scenario like this, my best guess is largely professions would remain but their forms will evolve, maybe branch into speciality areas. But the skills that will separate the chaff from the grain will be learning agility and resilience.