While the current unemployment figures are trending down, layoffs remain a totally real possibility. Here are 10 steps to take if you’ve been laid off:
Remain professional to others. A layoff is not an excuse to eventually give everyone a piece of your mind. Don’t film a dramatic exit to post on YouTube. This is a tough time for everyone, even folks who did not get fired. Don’t contribute any additional negativism.
Be positive to you. This also isn’t time for negative self-talk. Maybe you regret not starting a job search earlier or not saving extra cash. Dwelling on what should have been isn't going to help you and will in reality fuel extra anxiousness and disappointment. As an alternative think of hurdles you have overcome during the past to concentrate on things which will give you confidence.
Discuss your package and end date. Severance packages are often negotiable. Be aware of your end date because this determines how long you’ve got insurance, what proportion of your retirement account vests, or how much paid time off you accumulate. Don't feel like you've got to sign anything straight away. Ensure you understand your package and do not be scared to pose questions.
Consider lateral transfers, both permanent and temporary. Your dep. could be laying off staff, but other areas could be growing. Do not forget to consider subsidiaries or collaborations of your employer. Ask about consulting opportunities; sometimes a department doesn’t have permanent headcount but they have a consulting budget and they could benefit from having someone that already knows the internal ropes.
Prepare your story to clarify what occurred. When there is a big layoff that makes the headlines, it’s easy to summarise your story. But for lesser-known restructurings, you will have to explain to your network and prospective companies what happened. A short story will do: “my department was restructured, or my role was divided between two more junior hires, or my area moved to headquarters.” Ensure your story matches what your chief or any references will say about your exit.
Collect contact data for when you leave. Remember to get people’s permanent contact contact information. They may get fired after you so do not assume their present company info will last. You won't have accessibility to your office equipment, including an employer-provided cell phone, so be sure you have contact info in your personal files.
Leave on a positive note with your chief, colleagues and HR. When you do finally exit, do not forget to thank everybody. Even for folks who didn't get downsized, they may feel guilty, concerned that they may be next, or engulfed by the predicament of their leaving associates. Your courteous exit will reassure them that you have the confidence to persist and may turn a neutral colleague into an advocate.
Take a little time to assess and reflect. This is a massive change so don't feel like you've got to go from your job to your job search straight away. Do not ever be frightened to take one or two days to attend to all the private projects you could have shelved: home upkeep, doctor’s appointments, catching up with pals and family.
Run the numbers on your cash situation. That said , don’t undervalue the time it will take to search. You are coming into the job market along with lots of others. You might not have looked for a job in years. Now that you know your golden goodbye, work out how much time you've got for your search. You need to plan on at least 3 months for your search, so if you do not have the money to cover that, target getting temporary or consulting work to reinforce your money position.
Launch a proactive, considerate job search. Do not just blindly send resumes in a wild attempt to find something. Yes, you need to find a job, but you also want to find the correct job. What's the right job right now? It may be a transient one for cash flow. It could be a lateral move to learn some new talents. It could be moving to a different industry that has always interested you. The hidden benefit of a layoff is that you have got this opportunity to get a new job. Would you take your last job all over again? If this is so then you know to look for the same industry, functional area and sort of company. But if not, then explore what would be a wiser choice this time and execute your job search to find this better job.
Caroline Ceniza-Levine is a one-time Fortune 500 recruiter who now offers career coaching for your perfect job. Her company, SixFigureStart.com, also provides job hunters with interview coaching.