Relocation of a financial services company
In 2018 one of the largest financial services centres in Lithuania has announced its relocation. The company has taken the decision to change its international strategy, starting with the relocation of its main centre abroad. With almost 1000 professionals working in the company at the time, implementing this strategy was a major task. The first step to reduce this number is to transfer more than half of the workforce to a partner company. However, the main challenge remained – to maintain the company’s reputation and image as an employer, while laying off more than 300 employees.
The company planned to lay off the workers within 1.5 years – all of them were informed and could voluntarily opt for the redundancy programme, which more than 200 workers chose. Manpower Lithuania, together with the Swedish and UK organisation Right Management, was appointed to take care of the recruitment of the redundant employees in order to mitigate the redundancy process, thus preserving the company’s image and reputation in their eyes. We took care of coaching – one of the key tasks in this programme. Together with 3 partners, we have been able to provide the highest quality live coaching sessions on this scale.
While still with the company, all employees who joined the programme – from entry-level professionals to senior managers – were offered 3 to 12 months of training. support and unlimited live coaching sessions. By tracking every step of the recruitment programme, we have been able to ensure the highest quality and mutual satisfaction for both client and employee. In addition, while it was mainly about guidance and personal advice on how to re-enter the labour market, recall skills or acquire new ones, coaching was tailored to individual needs. The coaching was carried out in Manpower’s office to help the redundant employees get to know our team better and to give them peace of mind during the recruitment process. We are still in contact with the dismissed workers.
To ensure the highest quality, we continuously shared feedback with company representatives to better understand the client’s and employees’ most pressing needs. By putting ourselves in the client’s shoes and gaining their point of view, we were able to lay a solid foundation for a result that exceeded the client’s own expectations. The tailor-made recruitment strategy developed and implemented for this client helped maintain a common rhythm and achieve common goals with the client.
Despite this major challenge, the company has successfully transferred its financial services abroad as planned. By working with Mapower, clients have been able to change their international strategy to maintain their reputation and employer image. Over 90% of the redundant workers who took part in the redundancy programme have successfully re-entered the labour market, found new opportunities and even new career paths, which is one of the biggest successes of our team. The redundant employees not only spoke positively about the client but also about the Manpower team.