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.
Thoughtful article, Amy. Thank you. I hope you’re well.
Thanks, Chiadi! Doing great. Hope you are, too!
What’s up, just wanted to say, I enjoyed this blog post. It was helpful.
Keep on posting!