Uncover the often overlooked employee experience that can make or break your organization. Explore the impact of the separation process on your employees and the vital role it plays in shaping your company's success.
About half of corporate alumni actually maintain relationships with their previous employers, either as a client, partner or a vendor. And around 15% of new hires are actually either alumni or referrals.¹ So, providing a positive experience for those leaving your organization could be fruitful in the long run.
Whether initiated by the company or employee, when a separation decision is made, the offboarding process begins. This process often brings with it required forms to be provided and completed. If you don’t treat this process with care, you could face potential fines for missing forms or deadlines and possibly reputational damage and backlash from vocal ex-employees. Without proper transition plans in place, it can also create retention challenges for the team members who are left behind when an employee leaves. This is an important part of the offboarding process.
Providing tools such as reemployment can help springboard your separated employees to their next career opportunity – while helping to reduce your unemployment cost. This can reflect well on your company for the employee leaving, those staying onboard, and potential recruits.
For more best practices that can help put you on the right track for more confident and constructive offboarding interactions, hear from our offboarding subject matter expert, Sarah Beth Todd, in this video.
The offboarding process can be a bear to manage alone. Review this offboarding checklist for steps that can help put you on the right track to more confident and constructive offboarding interactions.
If you are interested in learning more about how Equifax can help you more easily manage your offboarding forms and processes, visit workforce.equifax.com.
1. Turn Departing Employees into Loyal Alumni, Harvard Business Review, March 2021.
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