In Danger of a Layoff? How Ready Are You?

Layoff Bill Inman Career Hacker careerhacker.comWhy would you be laid off?

 As is stated in the book “Fireproof Your Career,” by Anne Baber and Lynne Waymon there are many scenarios where a layoff at your company could effect your job. 10 of these scenarios include if the company you work for:

1. out-sourced your department overseas and eliminated your job.
2. got new management in a hostile take-over and eliminated your job.
3. merged with a competitor and eliminated your job.
4. bought more productive technology and eliminated your job.
5. hired contractors and eliminated your job.
6. decided to side-track your boss and eliminated your job.
7. changed its product line and eliminated your job.
8. down-sized, lost market-share, shrunk and eliminated your job.
9. consolidated its operations and eliminate your location and your job.
10.went bankrupt through bad management decisions and eliminated all jobs.

 How can you protect yourself from these scenarios?

Accepting that these scenarios could become a reality and taking action on the following five tactics can provide you with insurance against layoffs and open up new opportunities to you.

  1. Become psychologically self-employed. Take control over your career and realize that 100% of the responsibility for it is yours. Acting as a contractor or self-employed professional in your career will empower you in many ways.  First, you will be more likely to keep your skills current and secondly they tend to position themselves as players not observers.
  2. Learn for employability. Constantly expand your skills and seek career education. Keep your skills learning up in three areas: technological tools, job-specific technical skills, and with portable, transferable skills.
  3. Safeguard your financial future by planning ahead. Make financial decisions, on a day-to-day basis, that support your future. Ask yourself, “how can I spend less, earn more, and manage better?”
  4. Develop multiple options. Constantly be on the lookout for new departments, arenas, and ways to apply their skills so they’re ready to change jobs or careers when they want to . . . or have to.  Look for emerging job types, adjacent fields, lateral moves, and special projects. 
  5. Take time to build a safety net(work). Create long-term relationships that you can support and leverage throughout your career. Join your professional or trade association, for starters.

Five Tips or Fostering an “Eager to Stay/Prepared to Go” Mindset. [Anne Baber and Lynne Waymon]

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