How to Survive a Layoff

The recent economic downturn has many people thinking about the possibility of layoff. Unfortunately, people do not make plans in advance to ease the transition when the pink slip comes their way. Denial is not the best plan of action. A few simple ideas will enable you to survive a layoff and put you well on the road to recovery.

First, accept the fact that these things happen, and are driven by the market. It has nothing to do with you personally. A company, no matter how badly they might want to, cannot keep people on the payroll when sales are dropping with no end in sight. The quicker you get through the acceptance stage, the better things will be for you and your family.
Do not succumb to bitterness and criticize your employer. This is one bridge you cannot afford to burn because you may need them as a reference. If the employer offers a severance package that includes retraining, take it! I always find it amazing how many people complain and refuse to go back to school. Take a reality pill! The average person in today’s market place will work in up to three careers in their life time. Being adamant about staying in the same type of job you have always done is a death sentence. Be open to new careers and opportunities.
Get a resume. If you already have one, update it to reflect you last job and learning experiences. It is well worth the investment to go to a resume professional or life coach to learn how to get a job in today’s marketplace, especially if it has been a while since you went job hunting.

Take a close look at your skills and determine what you need to get retooled for the twenty-first century. Again, a good life coach or mentor is an invaluable asset. Keep an open mind and be open to new possibilities.

Change your spending habits immediately. Cut out everything that is not essential. Any severance pay you get is not a bonus. It is for living expenses to give you a buffer until unemployment and/or a new job happens. Spend it wisely and make it go as far as possible. It takes on average six months to find a new job, and with the current economic situation, even longer is a real possibility.
You should spend the same number of hours looking for a job as you did working your last job. Understand that employers will not call you, look for you, or come to your house to meet you. It requires you going to them, knocking on their door, and letting them see firsthand what you have to offer. Be sure to dress for success. Business casual is still the acceptable look.
The new order of the day is networking. Attend meetings, educate yourself on the current job market, look for opportunities to go back to school, and renew friendships with old contacts. Do not be afraid to take a temp-to-hire position. More and more companies hire temps because it is a cheaper easier way to check out a person’s performance than to hire and then terminate them. If retraining is an option, choose a field that is recession proof.

If you are facing layoff, you will need all the emotional support you can get. Enlist your family in the situation and always be clear about everyone working together to make things work. Finding a new career is a challenging process, but by using some forethought and being proactive, you should be re-employed in no time.

By Dr M Smith