7 Tips for Surviving A Layoff
1. Ask for more projects. I know this may sound like a crazy idea, and you might already be overloaded, but I knew a colleague in IT that had asked for additional projects and she survived three rounds of layoffs and still is working at her company.
2. Don't have the "It won't happen to me mentality". I'm not suggesting that you walk around scared that you have no job stability but take the boy scout motto to heart. Always be prepared.
3. Start Saving Now. Most financial experts will tell you that you should have 6 months salary saved up in case of emergencies or unexpected job loss. In this economy, I say if you can save 8 months salary.
4. Pay down debt. I know one woman that said she wished she would have paid down her credit card debt while she was working. She said now that I'm unemployed and money is tight, making those extra $30 and $40 monthly minimum payments are causing her to struggle.
5. Be prepared. By this I mean have your resume and cover letter ready. Don't wait until you are unemployed to start working on it. Better yet, while you're still employed have a professional resume writer do an evaluation of your resume for you and make updates and edits accordingly. A stellar resume can go a long way in a tough job market and save you potentially weeks or months of being unemployed.
6. Be proactive. Start sending your resume out now. Even if you don't think you'll be laid off go ahead and post your resume to all those top job boards. It can’t hurt to have it out there. Think of it as your back up 'just in case' plan. Your emergency parachute so to speak.
7. Know that you'll be alright. When a colleague of mine was laid off he found his true passion. He was in finance but has always wanted to be a Chef. So he used the time away from the office to hone in on his cooking skills. Now he's a Chef for a very upscale restaurant in the City. He told me one day, that he wished someone would have told him the day he got laid off that he would be alright. "In fact, I feel better then alright. It was the push I needed to pursue my true passion."
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Kindsey •You’ve got it in this one. I couldn’t have put it better. -
Deanna •Asking for more work or projects does not work for the long-term employee. I already knew so much that I became a go-to person. However, that was never recognized and was downsized anyway. I took home so much extra work, there was no way to ask for projects. My hint is to avoid being a go-to person for the little people and only focus on the managers.
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My layoff came as somewhat of a shock. I wish I had read this article before it all happened. However, I am using my time off to focus on my interest and, more importantly, my passion. I agree that a layoff can often be the push needed to truly pursue what your passionate about. I am a marketing professional who loves to travel and write. In my next position, I seek to work for a global brand that offers travel opportunities. To satisfy my hunger for writing, I am currently entering writing competitions and submitting articles to online publications. I am confident things will work out! Thanks for sharing this information.
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Corinne Colan •I quit bartending to pursue a career, went back to school so I could make more money instead I am making only a fraction of what I made before and now I have a student loan to pay, if you have a steady job KEEP IT, the only thing you need to prove is survival of the fittest!
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Cam •RE: Tip #3. Save 8 mos. salary?! I've always been a saver and have been out of work for over TWO YEARS, living off what I HAD been saving to supplement Social Security! I have 4 years to go before Social Security and the savings is running out fast. Take heed!
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Sorry to hear that Peter.
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Regarding tip #1, I did ask for more projects, but the layoff happened anyway.
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