Layoffs

Company Layoffs

Mass layoffs are a sign of the times. However, the strategies to deal with layoffs differ from as recently as ten years ago. For better and worse, technology affects career opportunities, job stability and educational requirements. Further, many companies frown on resumes with diverse, short-term jobs. So, before you grab the first job offer, consider your alternatives and the long-term implications. You may find the fastest road to employment is not the best one.

The First 30 Days

Much discussion exists about the psychological impact of layoffs and for good reason. Depression, anxiety and poor self-esteem produce disabling consequences for victims of down-sizing. Additionally, a lack-of-confidence glows like a neon sign during job interviews.

Some displaced workers take layoffs in stride, but, without the right mental attitude, job-searching efforts are disappointing. Immediately following a layoff is not the best time to subject yourself to rejection. Use this time to build a positive outlook, an action plan and shape a better future for you.

Layoff Action Plan

• Develop a realistic budget: If you are not accustomed to frugal living, obtain reliable advice on saving money. Rid yourself of unnecessary expenses and enjoy the lighter financial burden.
• Evaluate financial resources: Consider income and cash-flow resources (unemployment, pensions, grants, loans), what you can reasonably live on and for how long.
• Complete paperwork: Review and complete any financial, health or other benefit applications.
• Short-term work: For immediate income, try temporary or part-time work. However, consider the impact on your resume, unemployment income and other financial resources. Additionally, allow yourself enough time to evaluate and pursue your long-term career goals.
• Time for change: Consider life-changing endeavors that may positively impact your life and your career, such as education, travel and relocating.
• Dream job: Contemplate your dream career and how to pursue such goal. Investigate options and develop a plan.
• Self-employment: Are you ready to be your own boss? Investigate opportunities and create both a short-term and long-term financial plan.
• Self-care: Take extra care of yourself, layoffs are stressful times. Maintain a good diet, adequate sleep and exercise. The effects will positively impact future interviews.
• Leisure: Don't isolate and avoid entertainment because you feel guilty engaging in some fun. Leisure time is an investment in your well-being, hence your job searching efforts.
• Positive peers: Surround yourself with inspiring and positive people. Avoid the "Haven't you found a job, yet?" camp. Consider a support group for displaced workers if necessary.
• Productivity: Keep involved in productive work to feel good about you. Besides employment, consider taking a class or volunteering, both to feel useful and build some skills.

Job Search Preparation

Financial concerns, health-benefits and security are strong motivators for quickly returning to the workforce, as opposed to pursuing self-employment or sabbatical living. Regardless, if you remain in your chosen field or desire a career change, layoffs become a time to re-evaluate your skills, interests and portfolio. The following guidelines will increase your chances of landing a job that is right for you.

• Career Guidance: Consider a professional counselor or your local employment office, and be open-minded to unexplored career fields.
• Portfolio: Update your resume, portfolio and obtain letters of reference. Use a professional resume service if needed.
• Network: Maintain former contacts, including those at your last job. Layoff survivors may be particularly helpful. Obtain new contacts and inquire if his or her company is hiring. One of the most critical questions you can ask is, "Do you know of anyone I can contact?"
• Dedication: Treat job searching like a job. Make a schedule, keep organized and be accessible. Regularly search for job fairs and career days that garner your interest.
• Interview Skills: Brush up on your interview skills through online informational resources and books, practice the process if necessary.

Conclusion

The adage, 'a blessing in disguise', may not sit well when there are bills to pay and rapidly dwindling funds. Not everyone has a healthy savings account or a grand severance package. The key to surviving layoffs is not to panic, think through your options and to regain a positive outlook. Remember that you are not alone and that support and employment assistance is available. For more information, check out the Job Loss Support Group.