Manage Your Life

Wednesday, February 10, 2010

4 ways to prepare for a layoff

Getty Images

Getty Images

A few days ago, I got an email from a friend -- yet another -- who told me that he had just been laid off from his journalism job. The job losses in our field are so huge that there is at least one website entirely devoted to tracking the loss of journalism jobs day by day.

My friend wrote that he wished he had done some planning before the ax had fallen, and he is not the only one feeling that way.  Many people are in situations where they know layoffs are a possibility, yet they do little to prepare themselves.

Here’s a few suggestions I would have given to my friend had he called me before he got his official notice. But it’s not too late. These things still make sense once a layoff is official.

Go to the doctor.  Even though COBRA (the federal law that allows unemployed workers to pay to continue the same health insurance provided by their employers) is available to certain employees, many people who are unemployed cannot afford COBRA and opt for a cheaper no-frills plan. Others are not even eligible for COBRA. Which means that you and any family members on your policy will want to get doctor visits out of the way while you have good coverage.

Get your resume ready.  To be prepared for sharing your resume in different ways, have it ready in a PDF version for printing, a Word document for emailing, and an unformatted text document for pasting into online search forms. If you work in a field where samples of your work are important, make sure to have any samples you want to include in a portfolio to scan for your web site. And if your work would benefit from an online, multimedia presentation, consider using VisualCV.com, a free service which functions as a combination resume and website.

Review your finances. If you can sock away some money for the emergency fund, do it.  Also, think about where you can cut expenses. The larger your financial cushion, the more relaxed you will be about your job search, and you will have more leeway to choose to continue searching rather than jump at the first offer you receive.

Build your presence on Linkedin.
  LinkedIn serves many functions for job seekers. It can be your contact list. It can be your resume. And it can help you find people beyond your immediate network that might help you in your search. Many people join LinkedIn, put up a cursory profile, and then think the networking and job searching will magically happen. But LinkedIn can only help you if you take advantage of what it has to offer. Completely fill out your profile. Request recommendations from people you have worked with. And upload your contacts and start building your network. Once you've done these things, you are ready to take advantage of the site.  If you're new to LinkedIn and or are not yet using it in a job search, here is an excellent primer on how to use LinkedIn to find a job.

If you've ever been laid off, what do you wish you had done before it happened?
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From the Community…

Comments 1-10 of 22
  • Nan's Avatar
    Posted by Nan Wed Jun 3, 2009 10:08am PDT

    I would also suggest that if you know in advance of a layoff, that you speak to a counselor. Understanding what is normal in your feelings will help and many companies provide this as a perk.

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  • Meg R's Avatar
    Posted by Meg R Wed Jun 3, 2009 1:48pm PDT

    I have spoken to people in my area of work and they say that there are some new programs that I could make use of; I have met a gal who has just come out of college and has up to date skills, so I've hired her to tutor me in this stuff. Want to get the training done while I know I can still afford it, plus I have more confidence while I am still employed.

    Meg

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  • dlavie's Avatar
    Posted by dlavie Thu Jun 4, 2009 2:03am PDT

    Having a copy of files from your computer that you may have to refer to later... not saying you should steal confidential stuff. Anything personal should be removed from your computer. Migrate email to a personal account instead of a corporate account. You may not have a chance when you get the slip.

    Have a copy of your personal contacts, including fellow employees that you want to keep in touch with.

    Minimize personal belongings at work, the day the pink slip leaves you only want to have to clear your desktop

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  • Jasmine's Avatar
    Posted by Jasmine Thu Jun 4, 2009 6:57am PDT

    These are great tips!

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  • SFgal's Avatar
    Posted by SFgal Thu Jun 4, 2009 10:45am PDT

    Have a couple of nice-looking shopping bags on hand (I have read this before, maybe even on Shine!) but I did this for an old job where I knew I'd be laid off. I had my "Nordstrom" bags handy and was able to quickly put my personal belongings into them and make a somewhat graceful exit.

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  • 80'sgirl's Avatar
    Posted by 80'sgirl Thu Jun 4, 2009 12:20pm PDT

    OMG!!! i was just talking to my husband the other night about the possiblity of losing my job. What we did is look at all our finances and discussed what we would cut out in the event this happens, we came to a conclusion that if I get laid off we'll be ok for about 3 months.

    I got my resume all revised and ready to go and I am now mentally ready for it.

    TIP!!!!: Nan is 100% correct we all need to get into a mind set that this will happen no matter how secure you might feel.

    Everyone is replaceable

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  • tweet's Avatar
    Posted by tweet Thu Jun 4, 2009 12:21pm PDT

    I had a feeling, but wasnt sure...my boss was also my friend...never do that!! I still got laid off...fired..whatever. now it's been 6 mos out of work...augh! however, all my needs are met and God is good.

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  • bright's Avatar
    Posted by bright Thu Jun 4, 2009 11:44pm PDT

    These are great suggestions. I was laid off before about 6 years ago and I did not have a nest egg as I would have liked to have. I am now saving more money and cutting debt down and saving simultaneously. We have to do what we can to continue to live after this recession. Spiritual guidance is a must also.

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  • OlAstros Fan's Avatar
    Posted by OlAstros Fan Sat Jun 6, 2009 6:06am PDT

    I was laid off mid-January. Did know it was coming - started down the hall and I guess I was lucky enough to be last office. I can say that with the economy (which has been bad for more than just this year) I had no savings to speak of. I worked quickly to get unemployment and even food stamps and that helped immensely. Prayed alot, applied for job way beneath my qualifications only out of fear. Sold items on Craigslist and even some items at estate auctions. You'd be surprised how much you have that willbring in good money. Now the storm is over - I and my family survived - got a job yesterday and it's for more than what my previous job paid. There is a GOD - you just have to get up every single day and play the good game. Everyone told me to count on myself and I did just that (with alot of prayer) = today life's lookin good!

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Comments 1-10 of 22

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