Preparing for a Layoff
By: Nancy | October 30, 2008 | Category: Money
It happened again just now.
Another friend told me he's been laid off. That's the second this week. And there are so many others who are hearing rumors that their jobs could be next or who have had their work hours cut so severely that they think it's just a matter of time before they're pink slipped too.
If your company has lost a lot of business or has been bought out recently or you're just sensing from talk around the office that your job is vulnerable, asking yourself a few questions now can help you be prepared if the worst happens later.
What does my current financial picture look like?
The rule of thumb is to have the equivalent of six months' salary in your savings account. Most people I know can't afford to do that. Take a look at what you have and think about how you can cut your monthly expenses. Can you...
- Refinance your mortgage?
- Cut any services or subscriptions like cable TV or DVD rentals?
- Renegotiate or get out of contracts with the gym or the daycare center?
- Get a deferment on your student loans?
How out of date is my resume?
Commercial job search sites like Monster.com offer up-to-date tips for crafting the right resume for the line of work you're going after. And I found a slew of resume templates that you can download if you use Microsoft Word.
Who do I know?
I got this job through networking. I gave a friend a copy of my resume and she gave it to the then-editor of the Consumer Information Catalog who passed it on to my future bosses. You never know how you're going to find your next job. So let friends and family know, join social networking sites like Facebook and LinkedIn and job hunting sites and get the word out. Also consider setting up a special job hunting email account rather than using your personal or family email and think about changing the voice mail on the phone number you'll be using on your resume; as cute as your two-year-old might sound singing on the home answering machine, a potential employer may not be so amused.
How does unemployment insurance work?
It's one of those things you don't think about 'til you need it. But if you can get familiar with it now, it'll be one less thing you'll have to figure out later.
If you are laid off, Job-hunt.org has excellent tips on what to do right away, from negotiating a severance package to continuing your health insurance coverage.
This is a rough time for so many people. What advice do you have for someone who's facing a layoff or job hunting?
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As someone who had his hours cut and can see a very strong possibly of losing his job in the near future this has been on my mind. There are jobs out there if you are willing to do the work. My sister manages a temp agency and she says that if a person is willing to eat their pride she can get them a job. She says that there are so many people who are not willing to take a job that they think is below them. I flipped burgers and stock shelves while going to college I can flip burgers and stock shelves if I had to have a job.
The one thing that is helping me through this is my faith in God. He promises that he will take care of me and He will. It might not be the way I would hope for or like, but I know that I will make it through this period in my life.
Thomas
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Now I run a website for job seekers, and I'm always interviewing people about how they got their job (if they're in a new one). More than 80% of the time, the answer is networking - former college roommate, former boss, former colleague, neighbor, sister-in-law, person met at a kid's soccer game, etc. It's not the Internet or any particular website that connected the person with their job.
When it comes to Websites -
LinkedIn.com - For professionals, LinkedIn is very helpful (it's been mentioned more often than Monster!). I know people who've been hired through LinkedIn, and I also know a fair number of recruiters who only search through LinkedIn to find candidates.
Craigslist.org - All kinds of jobs for smaller employers are often posted on Craigslist because it's free or very cheap. So, that makes it a good source of jobs you won't find on Monster, CareerBuilder, et al. Unfortunately, scammers also post their fake jobs on Craigslist, so if you use it to find a job (or even to buy something) be VERY careful that the job is real. Verify through another source (the Yellow Pages or Google) that the employer is legitimate, and be wary of the ones that use throw-away e-mail addresses like ones from hotmail, yahoo, and gmail.
Indeed.com - Indeed aggregates job postings from employers, associations, newspapers, and other sites plus the jobs from Monster, CareerBuilder, DICE, etc. so it's a great one-stop-shop for finding job postings.
Good luck!!
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These tips are great, you guys. Please keep them coming!
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keep up the good work.
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Tuesday, November 4, 2008
Barack Obama, 44th President of the United States of America.
“This is the Lords doing; and it is marvelous in our eyes!!”
56
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I personally found LinkedIn usefull and have develop a great network via FaceBook.
Bloggers do a fairly decent job with economical advice, and I personally, wrote several articles on getting ready for the recession at: http://socialmediamarketing101.blogspot.com.
Keep up the good work, I enjoy reading your blog.
usajobs.gov is a great resource, but you already knew that.
Respectfully;
Joe
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And I just evaluated our family's drugs against Walgreens, Walmarts, and Albertson's, and at most they were mediocre.
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