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How to Prepare for a Layoff

by - 01/20/2018
"How to Prepare for a Layoff"
How to Prepare for a Layoff

Suppose your work place starts buzzing with rumors about possible layoffs in the near future. What do you do? Wait and hope that you won’t be one of the unlucky ones, or cut your losses and quit before you’re laid off?

In most situations, it’s much more prudent to wait, rather than jumping the gun and quitting before the layoffs happen.

* You’ll be able to leave on better terms with the company
* You may able to collect severance pay and other benefits depending on the situation
* No need to explain to a new employer why you quit
* You may end up not being laid off at all—it’s not a sure thing until it actually happens

However, there’s no reason why you can’t start preparing for a possible layoff before it happens. There are several things you can do to make the layoff and your subsequent job search go more smoothly. Being laid off is never completely stress-free, but if you start preparing before it happens it’ll be much easier to deal with.

Be Proactive

If the rumors of layoffs persist it might be time to request a meeting with your boss. Tell them you’re concerned about the possibility, and if it seems likely layoffs might occur in your department, ask if you can interview for new jobs while still employed (explaining that you’ll make up the time by arriving early or working late).

Update your Resume

This is a good time to take a look at your resume and make sure it’s up-to-date. If you’ve been in your current position for several years without updating, your resume probably needs an overhaul.

Make a list of your most significant accomplishments in your current job, as well as any new skills you’ve learned or responsibilities you’ve had. These can be used to update your resume, and will be useful when writing cover letters, too.

Start Networking

If you haven’t been keeping in contact with your business associates, now is the time to get in touch. Reestablishing contact before a layoff occurs will be more effective than calling out of the blue to ask about job leads after it happens.

This is also a good time to do some research and find out what types of severance packages other companies are offering. If you do end up being laid off you’ll be better equipped to negotiate a more beneficial package for yourself.
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