Tag: laid off
Why it’s Smart to be Prepared to Leave Your Job on a Moment’s Notice
Whether you plan to quit your job now or never, it is smart to be ready to leave on a moment’s notice. It’s not about being fearful that you might lose your job. It’s about gaining confidence by being prepared.
Here’s why it’s important:
- Being ready to quit is like having a grab-and-go bag for your career. Tomorrow might be your last day at work whether you want it to be or not. Layoffs happen, businesses fail, companies relocate. Job security is more of a wish than a reality.
- You’ll be empowered. You’ll have options and will be less dependent on your employer to meet your financial needs and your personal career goals.
- You may be more successful at your job. Feeling that you can leave at any time, you might take smart risks that pay off. You might speak up more, and get more attention for your projects.
- You’ll be more agile. If you’re shoulder-tapped to transfer to a new role or new location, you can change gears quickly. Or you can say no and let the chips fall where they may, because you’re ready for it.
There are multiple components to being fully prepared that involve finances, health, shoring up support and more. If you don’t know where to start, take a look at your work tools. If you’re using a computer or cell phone provided by your employer, would you be ok if you were asked to hand them over tomorrow? If not, wipe all your personal photos, documents and data from your employer’s property. Stop using your company’s email address for personal communications. Make sure you have copies of your address book on your own computer and phone.
Another step is to make sure you’ve got copies of important information safely stored at home. This includes copies of your performance reviews and records of awards and achievements, so you can use that information to customize resumes in the future. It also includes having a portfolio of work samples that you can use in future interviews or as resources in your next role. Work samples could be snapshots of projects you worked on, non-confidential reports and presentations, or tangible materials that you produced. Make sure to take home financial documents like recent pay stubs and information about company-sponsored retirement plans and investments.
A third place to consider is your work space. Years ago my office was draped in personal belongings. I had two lamps, framed art on the walls, and a bookcase full of books, awards and photos. I even had hippie beads hanging from my door frame. (Don’t judge – people loved my office!) But when I left my office for the last time, I walked out with a single cardboard box of personal items. As I was working through my exit plan, I slowly swapped out the objects that were most important to me with fewer and more portable pieces. If you make this transition thoughtfully, nobody else will notice. But you’ll have the satisfaction of knowing you could hold your cardboard box in one hand while you use the other to wave ‘bye.
Three Things to Do When You’re About to Get Laid Off
If you think you’re going to get laid off soon, there are a few things you can do right now to be better prepared.
Don’t wait until you get the news – you might be upset or angry and forget to take care of important details while you have the chance. And don’t be overconfident. Just because your company may have given workers weeks’ long grace periods in the past, you never know when the policy will change and you’ll be asked to pack up your office and leave in an hour.
- Copy your contacts from your work computer’s address file to your home computer. All those coworkers, vendors and partners whose phone numbers and email addresses you filed on your work PC are part of your professional network. Regardless of where your career goes, keep your “rolodex”. And those personal names and numbers you stored in your work address book for the dentist and the pet sitter – save yourself the steps of having to recreate that information later.
- Print your most recent paystub and your December 31st paystub. You might need the details for mortgages or refinancing, for taxes, or for anything that requires proof of past earnings. Also, when you’re considering new job opportunities you can refer back to your paystub to add up the non-cash components of your total compensation. Employer-matched 401K’s, life/health/disability insurance, gym memberships, bonuses and stock should all be taken into account when it is time to discuss salaries. Being able to talk in detail about the total value of your past compensation package will help you negotiate with confidence.
- Calm down. Yes, facing a layoff can be scary. Career changes are disruptive and one that is not your choice may have extra discomfort because of the uncertainty of what you’ll do next. When you get consumed by your thoughts, just stop. Take a deep breath. You were hired for your last job and you’ll be hired again. Or you’ll start your own business. Or retire. Or take a break and figure out what you really want to do with the next years of your life. You’ll be eligible for unemployment benefits and probably get severance pay, so don’t waste your energy panicking about a financial disaster that probably won’t materialize. This could be the best thing that ever happened to you.
Of course there are more things you can do before you walk out your company’s door for the last time. But for now, take these steps. And then go to work tomorrow knowing you’re a little more prepared. You got this.
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