- Be realistic about potential for layoffs in your industry, occupation, or company. Some people have been laid off so many times they consider employment to be “between layoffs.” Keep your eyes and ears open for clues that may signal a downturn or change in strategic direction. For example, if you work for a medical device company where the company is being sued for a product that has had some regulatory issues or performance issues, then watch out. Or if you work for the IT division of a company where there are discussions of off-shoring or outsourcing some of the programming work, watch out. We can’t anticipate everything, but we need to be alert.
- Do as much as you can to make yourself invaluable to your current employer. Work at a high level, volunteer for strategic assignments, be reliable and dependable, stay current with industry trends and knowledge. Be the Wisdom and Knowledge resource for your division. Sometimes whole divisions are cut and you can’t really affect the outcome. But if they are deciding on an employee-by-employee basis, then you want every advantage stacked in your favor.
- Save cash – try to build a cash reserve of at least 6 months of salary. Unemployment Insurance usually only lasts 6 months. Don’t count on there being any more extensions. The average job seeker is out of work for about 37 weeks these days, so try to have enough cash on hand to withstand such a dry spell.
- Plan to keep your retirement accounts intact. A layoff is not the time to drain the investments you have socked away for retirement. Using that money usually entails paying a penalty and you get taxed on it when you withdraw it. So, if at all possible leave it alone and do not include those assets in your budgeting for a transition period.
- Pay down debt while you have full income. Accelerate mortgage or car payments if you can. Get down to one credit card and pay it off every month on time to avoid late fees. Or better yet, try not to use it as much.
- I always liked the title of Harvey Mackay’s book, “Dig your well before you’re thirsty.” The time to build your network of contacts is now. You need that network in place if a layoff occurs. It takes time to build and nurture a thriving network, so don’t delay.
- Another networking book is called “Never Eat Alone” by Keith Ferrazzi. He is a little “self promoting” but there are still some good tips in it. I wrote a brief review of it a few years ago. http://jobpartners.blogspot.com/2008/05/networking-book-review-never-eat-alone.html
- Use LinkedIn to build, manage and expand your network. Networking always been the tried and true method of finding work. Well, now it has morphed into Social Networking and has moved to the Web. LinkedIn just added it’s one hundred millionth member, so it has become the standard site. People say Facebook is like a party on your patio, while LinkedIn is a gathering around the office water cooler. www.linkedin.com. A high percentage of recruiters and hiring managers are already Googling you and checking your LinkedIn profile, so make it a good one.
- Use LinkedIn to build your career brand online. Use it to look for job postings, use it to start or join groups, use it to update your network on your activities, feed your network links to articles, videos (professional topics of course), and anything else they might find useful.
- Use LinkedIn’s section of training materials and articles including videos that teach how to use the website.
- Keep your job search skills up todate. Work on your career brand, your elevator speech, your interviewing skills and regularly check the internet job postings to track who is hiring and who is not. Many of your interactions during networking could be considered "job interviews," simply because people are always assessing talent. So, don't think that you aren't being evaluated simply because you haven't formally applied for a job posting.
- Be sure to join any relevant groups or professional associations that relate to your occupation. There are national organizations that have local chapters, such as ISPI and ASTD for performance improvement and training professionals. These organizations are excellent for networking and lending your own expertise. Volunteer for leadership positions if you can, because it makes you visible beyond your current company, and lets you demonstrate your value to a wider audience. Your current employer may pay for memberships.
- Keep a current resume or curriculum vitae. Obtain a job description of your current job so you will have all the proper terminology and job duties written down. Use all the keywords for your occupation in your resume.
- Use www.wordle.com to discover how well you are using keywords in your resume and in your LinkedIn profile.
- If you know for sure layoffs are coming, see if there is a way you can keep doing your current work as a consultant rather than an employee.
Your Education and Credentials
- Take advantage of your company’s tuition re-imbursement program while you are there. Many companies will pay for courses up to some maximum dollar amount for the year. It’s like free money, so utilize it.
- Keep licenses and certifications up to date even if they are not relevant for your current job title.
- I have seen an awful lot of valuable employees get stuck because they were doing a job for 20 years but never actually attained the credentials for their skills. They didn’t think it was important because they already had a job and were doing it well. But then once they got laid off, they discovered that they couldn’t get hired for that same job title without the appropriate credential.
