Will You Be Ready for This? 5 Steps to Prepare for a Layoff

The actress, Valerie Harper, was recently on TV discussing her amazing journey with cancer. Doctors had told her that she had only 3 months to live so she prepared herself for the inevitable – well, that was one year ago! She told the interviewers that she is thrilled and grateful for her progress and acknowledges she still has cancer, but after all is said and done, we are all “terminal.” Her comment made me think that as much as we’d like to believe to the contrary, unfortunately, there is no such thing as 100% security in life. You could be here today and gone tomorrow.

The same can be said for your career. You may think you have the best job working for the greatest company, but unfortunately there is no such thing as a sure thing. As the popular career blog, Careerealism, notes on its home page, “every job is temporary.” Today, it is a common occurrence to hear stories about people who are completely blindsided when they are laid off at work.

I read a great article recently on Monster that sets out the “7 Signs You’re About to be Fired.” http://career-advice.monster.com/in-the-office/Workplace-Issues/signs_you_are_about_to_be_fired/article.aspx?wt.srch=1&wt.mc_n=olm_sk_disp_td_tbl_RON61_img32

According to the article, the 7 signs are as follows:

1)   Your Level of Responsibility Has Taken a Nosedive

2)   The Boss Is Avoiding You

3)   You’ve Been Disciplined Recently

4)   All Hail the Robots! (Your job can be automated)

5)   No More Professional Development

6)   Your Company Was Recently Acquired

7)   You’ve Been Asked to Create a Job Description for Your Position

I would add to this list:

·      You’ve been passed over for a promotion.

·      You’ve been asked to train someone on part or all of your job duties.

Now, I don’t want you to panic if you can answer, “yes” to any of the above; instead I would urge you to think of every job as being temporary and to take the following steps to make sure you are prepared in the event you are ever given the pink slip.

Step One – Create a Vision for Your Career

I often come across people who have a narrow viewpoint of their career because they never take the time to think about what they really want or they're so afraid of losing what they have that they are willing to settle for less. The most proactive approach to getting ahead in your career is to think of it in the long view. When you take the time to set an intention, you are a thousand times more likely to reach it. Instead of letting your career happen to you, empower yourself to firmly take control of your career progression by thinking of yourself as CEO of your career.

Ask yourself these questions:

-       Where do I want to ultimately end up in my career? (For example, President of a Fortune 500 company in the tech industry.)

-       What will it take for me to implement my vision?

I know there are some people out there thinking – “Oh well, I’d like to be the next Bill Gates or Donald Trump.” Obviously, this will require a realistic viewpoint and that you take into account what would be a good fit for you based on your personality, attributes, skills, natural abilities, and experience. However, it’s always a good idea to aim high. You could emulate Donald Trump if you really wanted to – just perhaps on a smaller scale.

Step Two – Take Inventory of Your Accomplishments

It’s extremely important to know your value in the marketplace and to be able to articulate your worth. Companies want employees who will add to their bottom line and solve problems for them.

I hope you’ve kept a folder with notes about your career accomplishments as I’ve recommended in past blog posts. If not, it’s never too late to get started. Be sure to think in terms of the results you’ve delivered in relation to your job duties and of course, quantify them when possible. Be sure to include them on your resume, LinkedIn profile and cover letter – then be prepared to talk about them during interviews and when networking.

Step Three – Prepare Stellar Personal Marketing Materials

Make sure you have a powerful, up-to-date resume together with other marketing documents such as a LinkedIn profile and cover letter that “sell” you to prospective employers. If you want to get a prospective employer’s attention, your resume needs 7 elements in order to make an impact.

It should:

1)   Have a clear strategy. What is your career objective?

2)   Be written for your target position.

3)   Grab attention at the outset in the Summary Section.

4)   Define your brand.

5)   Focus on your accomplishments.

6)   Be clear & concise.

7)   Visually capture the reader’s attention with eye-catching formatting elements.

Step Four - Engage in Purposeful Networking

Assuming you are clear about what you would want to do, consider where you would like to work. Put together a profile of the ideal company prototype taking into consideration the company size, location, industry, and corporate culture.

Once you have a clear picture of where you want to work, make a list of the top 10 - 20 companies that fit your description (40 - 50 would be better as you will eliminate companies as you research them).  Research those companies to make sure they are in alignment with what you have in mind.

Finally, begin cultivating contacts and relationships with people in those companies. The idea is to engage in purposeful networking before you have to.

Step Five – Take stock of your finances

Here are a few quick things you can do to protect your finances:

1)   Set up an emergency fund of 3 – 6 months of income to tide you over while you look for your next position.

2)   Find out what compensation you would be entitled to if you were let go. For example, would you receive unemployment benefits and for how much?

3)   Make sure you can handle payments of any outstanding debt or loans.

4)   Write down money-saving strategies you can implement if necessary.

So, what do you think?

How have you prepared for the possibility of losing your job? 

Do you have any tips to add to the above? I'd love to hear your thoughts in the comments.

What to do if you’re in a toxic work environment

Q. I am a senior executive and recently changed jobs because the company I had worked for was going through major downsizing. Like many others in a similar situation, I was afraid my position would be eliminated. I had found out about a position from a colleague and while it was a lateral move for me, my job functions and responsibilities changed from my last position. While I am not thrilled with my new daily job tasks I thought I would give it a try but at the end of the day chose to take the job for the sake of job security. The real problem with the new position is that not long after taking the job I realized that I am in a toxic work environment and bad corporate culture. My boss is very difficult to work for as he is a micro manager and I feel as though my work goes unrecognized and unrewarded. Also, there is virtually no open communication among team members within my department. I hesitate to change jobs at this point since it would not look good on my resume and would be difficult to explain without casting some negative suspicions on myself when looking for a new job. I am experiencing a great deal of stress and dread going to work each day. What should I do?

A. Sometimes we can find ourselves in situations that are difficult to cope with which can make us feel as if we are trapped and don’t have any choice in the matter. The truth is we always have a choice. The key to gaining control of the situation and feeling empowered is to focus on finding a solution rather than on the problem. Shifting your mindset will help you to adopt a positive attitude and feel better about your situation which in turn, will lessen your stress. It also helps to think about what you can learn from this situation. One lesson learned could be making sure that you get more information about a new work environment before accepting a job offer in the future.

There are three separate courses of action that you can take:

1)     You can change jobs or bosses within your company by moving into another department working for someone who would be a better fit for you (after doing your research!).

2)     You can attempt to change your boss’ mind or to change the dysfunctional organizational culture for the better.

3)     Or you can cut your losses and go to work for a different company that better recognizes your talents and skills.

While it is possible, trying to change the corporate culture would be very difficult to do and may work against you in the long run as your productivity will be affected and your reputation for being a valuable worker could suffer. Unless you have a lot personally invested in staying where you are, the time and energy investment required of you may not be worth it.

If you should choose to look for a new job, you have a great reason for making a move to a new company. You can explain to prospective employers that you thought you wanted change jobs and perform different job functions, but once you actually worked at the job, you realized it was not a good fit for you. Ultimately, you prefer to work at a job that you love as you know that would make an impact on your job performance in the long run and the contribution you would make to the company.

There are 3 types of people: winners, losers, and…

I heard Les Brown, the famous motivational speak say this –

There are 3 types of people, winners, losers, and people who haven’t discovered how to win.

If you’ve been looking for a job for a long time without success, you might be tempted to think of yourself as a loser at the job search game, but the fact is that you aren’t; you just have to figure out how to win the game.

In my last post I talked about how listening to the “bad” news about the employment outlook can discourage job seekers so much that many have given up and abandoned their efforts to find a job; they believe that there just aren’t any jobs out there. This negative thinking that will set you up for failure and sabotage your efforts. The truth is that there are many jobs out there; you just have to use the best methods for finding them.

A number of years ago, I worked with a woman named Susan who had been out of work for more than a year. Susan was in her early 50’s, the victim of downsizing, and looking for a job as an office manager. By the time she came to me to write her resume and give her job search pointers, she was desperate and willing to take a lower level job.

As I recommended, she did her best to use multiple methods for finding a job. In addition to using traditional methods (responding to advertised positions), she also focused on networking and directly contacting companies.

There was a small restaurant she frequented while searching for a job in NYC where Susan became friends with the waitress who worked there. The waitress told her that she heard that there was a job opening in the company across the street for a property manager. While Susan didn’t have direct experience with property management, she knew she was capable and would be able to do the job. Thanks to the waitress, she was able to set up an interview with the prospective employer.  When he expressed doubt about her ability to be a property manager since she had no prior experience, Susan offered to work without pay for two weeks to prove that she could do the work. She did such a great job that she was hired and paid for the two weeks she worked.

The moral of this true story is:

Never give up.

Believe it’s possible and that opportunities will come your way because you never know where your next job will come from!