Amid a strengthening labor market, the global outplacement market fell by 20% to $1.8 billion last year, according to the new “Outplacement Landscape 2022” report by Staffing Industry Analysts. But the outplacement market is countercyclical — it tends to do better during down economies and vice versa.

Outplacement is also the Staffing Word of the Week, and SIA’s Lexicon of workforce ecosystem terms describes outplacement as:

“A service segment of the ‘other workforce solutions industry,’ outsourcing is a service to guide a terminated employee of a company to a satisfactory new position or career through the provision of short- or long-term counselling and support services, on a group or individual basis, most often paid for by the terminating employer.”

The full definition of outplacement is available in SIA’s free online Lexicon, and more information is available in the landscape report.