' Outplacement Outtakes ' v.28 - Providing Peace of Mind to Mohammad through Financial Counselling SupportNov 15, 2023
As we have discussed over the last couple of weeks, there are 3 main pillars that can describe the CMS full-service outplacement program.
In addition to, #1. Personal Coaching to help develop one’s resiliency during a major life change, and, #2. Strategic, modern job search tools to minimize one’s time between jobs, Pillar #3, Financial Counselling Support provides the opportunity for one to find peace of mind during a career transition when money issues suddenly become top of mind.
Mohammad started working with us this past year, a year as we are all aware, has been full of rising interest rates, inflation, and economic uncertainty. When Mohammad joined our program, he had just left his job as a Quality Assurance Manager in an automotive parts manufacturer. He was beyond worried about how he was going to make ends meet as the severance package from his employer wasn’t very generous considering his short tenure.
In addition, he and his wife had purchased a new home in 2020 when they were expecting their first baby. When his position was eliminated, Mohammad and his family were already struggling with costs associated with living on one income, and rising interest rates.
When he joined the CMS program, he was surprised to know that he had the opportunity to speak to an independent financial advisor, about any financial topic relative to him at the time.
He was relieved to be able to speak to a Certified Financial Professional (CFP®), who was a friendly and calm voice of reason. Using her expertise and experience, she helped him to develop a practical plan to reduce his monthly expenses, while saving some money, by looking in detail at his current expenditures and the needs of his family during the period of his career transition.
All CFPs we work with at CMS are independent financial advisors not affiliated with a particular group, meaning that our job search candidates get impartial practical advice and never feel pressured to endorse a particular bank or financial institution.
Whether our candidates need advice regarding the management of their severances and related tax implications, how to manage their day-to-day finances, how best to capitalize on their investments or to simply act as a 2nd opinion on current financial strategies, our CFP® Professionals provide personalized, friendly, and knowledgeable support to all CMS candidates enrolled in our full-service outplacement programs.
Providing financial counselling support to our candidates ensures a holistic program that is truly meaningful to the former employees you have entrusted us to support through their career transitions.