How to Navigate Layoffs – 5 Essential Tips
With all the news of mass layoffs, it’s only natural to wonder whether you will be affected eventually. The trend of shock firings in the tech sector may have led you to believe that you cannot be certain about anything anymore.
Rather than fearing the worrying trends – over which you have no control – think how you might want to respond if you are laid off in the near future or years from now. These career tips will help you get started.
1. Pay attention to your financial health
Unemployment affects different people differently. It’s more challenging when you have dependents and loans. Usually, the biggest worry is about getting on financially in the absence of a regular income. So, among the first things to do is get your finances in order to prepare for any future adverse event.
- Take stock of your finances
- Apply for unemployment benefits
- Trim unnecessary expenses
- If you lose access to your employer’s medical insurance plan, consider the alternatives
- Take up freelance projects
If you haven’t any emergency savings (!), resolve to start building your rainy day fund a little by little once you land a job.
2. Treat yourself kindly
Not everyone experiences stress in the same way. Yet, some measure of anxiety is common during a difficult transition. Predict how you’re likely to feel and act in the event of bad news, and what you can do to feel better.
- Reach out to your inner circle
- Stay active throughout the day
- Spend time in nature
- Meditate for a few minutes daily
- Avoid people and things that upset your calm
- Engage in your hobbies
3. Begin your job search ASAP
Try to get back on your feet quickly. Focus on finding a job and keep at it. Your next employer is around the corner.
- Register with a technical recruitment firm/placement agency
- Reach out to the most helpful people in your professional circle
- Keep in touch with former colleagues and those who were laid off with you
- Stay active on social media for news of job openings
- On social networks, directly contact decision-makers who’ve welcomed discharged employees to their companies
4. Avoid taking big risks
You may be inclined to change your career path, shift to a different industry, or start your own business. Take calculated risks after weighing the pros and cons.
- Be honest about your ability to lead and manage a company
- Evaluate the financial, environmental, competitive, political, and economic risks of entrepreneurship
- Understand all the work involved in setting up and operating a business
- Choose a trustworthy and capable business partner
- Find a mentor you can count on for solid experience-backed advice
5. Do things differently this time
If you felt disrespected or shortchanged at your current job, you now have the chance to start anew with a company that values you. Use the time you have to research companies at a deeper level and make better choices this time.
- To expand your choices, utilize the services of a firm specializing in technical recruitment
- Follow your long-list of potential employers on social media
- Search Google News for recent developments about those companies
- Go through their Glassdoor reviews
- Find out whether they offer employees a severance package, what’s included, and how they support laid-off workers
You can bounce back quickly from a layoff
With the right transition plan, you will have little trouble getting back on your feet. Hiring usually outpaces layoffs and working with a technical recruitment firm as soon as possible will give you an edge over competitors. Browse the latest opportunities at Everest Recruiting, and also expand your search to executive-level positions through our sister company Arango & Associates.
Leave a ReplyWant to join the discussion?
Feel free to contribute!