The idea of losing a job is very scary but it is very real; it may happen anytime and even without a fault of your own. Several reasons can contribute towards you losing your job and it won’t always be something that you have control over. It is important that you are mindful of the things happening at your workplace so that you can identify any signs of things going south early on - and be in a position to take an appropriate step forward with ample preparation.
Why Should You Be Prepared For It?
Being prepared for a calamity like this before it hits you leaves you in a better place mentally and financially. The process of losing a job can be rather emotionally draining and can create problems for you if you don’t have a plan going ahead. The repercussions will not be faced by just but also your loved ones and thus having rationalized the whole idea would soften the blow for you. Being emotionally mature during a crisis like this is fundamental. So if you do find yourself in a similar position, you really need to assess if you are ready to do the work that will be required from your end to make sure that you come out of this sticky situation as valiantly as possible.
In order to help you in reviewing and overlooking things in a situation like the one mentioned above, we have compiled a series of things that you should do beforehand; leaving you in a position where you can negotiate better and not be caught off guard - when and if you hear the news of being laid off or fired.
Review Your Financial Standing
The first step that you need to take is to prepare yourself for the worst; both emotionally and financially. With something like this coming to hit you, you need to make sure that you don’t have your back against the wall when it does. You need to have at least saving worth 6 months of expenditure and in the case that you don’t, you need to start saving from the moment you identify any red flags. You may even get rid of unused assets at home by selling them over the internet. It is wise to draw up a budget for the coming months and follow it strictly so that you don’t sway away from the set boundaries and save up as much as you can!
Build Up the Right Circle
It is advisable to use the time that you are still in the job to network among people who are in similar job roles as you. Doing this while you still have a job makes you like you are genuinely building the network to learn and acquaint yourself with like-minded people. In the position of being employed, you are able to talk about your skills among your chosen network while having others warrant those claims for you.
You can do so by attending relevant conferences, meetings, and mentoring circles that cater to your industry. All the mentioned events are opportunities for you to meet new people and get yourself acquainted with them. Networking with the right people will not just be helpful when and if you are out of your job, but also the while that you are employed - at that moment and even in the future. Often employers tend to regard your people skills as an important asset and this will work to your advantage when you end up job hunting eventually!
Talk to Someone About the Situation at Hand
In a crisis like this, as we mentioned previously, it is difficult to keep your rationality and decision making in check. Once we are in between jobs or just waiting to find something, we may cling onto anything that comes and not properly assess the job role as thoroughly as we should. In the pursuit to seek stability, it is a very probable risk that you might end up at a job that will be underpaying you or at one where your broad range of skills and expertise might be of little or no use at all.
Thus, especially in a situation where your current job is at risk, it is well advised to consult a mentor or a specialist within your field of work and industry. At this point, you can benefit from the circle that we advised you to build. Seeking advice from an external person who is unbiased towards you and the situation you are in will make sure that they give you the best professional advice. This way you will be able to avoid any frantic professional decisions. You may end up getting professional insights about your current career trajectory and may even get ideas to diversify if possible. Talking about your situation will help you think clearly and overcome and self doubt that may have made its way into your head due to your situation.
Update the Resume and Get Active
Lastly, once having identified what’s coming and having taken the above precautionary measures, you should now be in a very secure position to focus on getting moving; finding something better for yourself! You should start reviewing and editing your resume and your professional LinkedIn profiles. In the age of digitization, an updated LinkedIn profile increases your chances of being visible to the relevant recruiters. In order to make this process smoother for yourself, you should keep a bi-weekly or weekly list of accomplished tasks so that you know what you have been working on and what skills have you been acquiring during that time period!
Keep your Emotions in Check at Work
This one is more of personal advice than a professional trick to make the process easier for your nerves. Being let go of or a change this big is often very difficult to deal with and you may lose your temper at your workplace and it will work to your disadvantage if this happens. Not only will you be leaving a poor impression of yourself on your colleagues but will be creating further problems for yourself - professionally.
These scenarios and all the probable planning to prepare for something like this can be disheartening but moving forward with a flexible and positive approach will help you make the best out of this unfortunate event as well!