3 Ways to Prepare for Corporate Layoff Season

​And so around this time of the year begins the first round of layoffs for corporate workers. I have unfortunately experienced this on numerous occasions. One year being laid off twice from two separate places of employment. Change is inevitable and companies will do what’s best for the company vs your household, every time. 

It’s important to prepare for change. I grew up in an era where they’d say “If you stay ready, you won’t have to get ready”. As an adult I finally understood what that meant. 

Below are 3 things I did before going down with the ship or hoping in the life boat during the corporate layoff season. 

Store a Nest Egg: There’s no magic trick! I simply put aside additional money; that would hold me for 6 months (at least) until I found another job or contract. I took what it takes for me to live regularly each month multiplied it by six and that became my new SAVINGS GOAL! 

Multiple Streams: We would all love to work just one job and think that the one job should do the trick. But with inflation it’s not likely. I also had a side gig or another job; just in case I needed something else to fall back on. 

Stay in Touch: Although I had landed a perfect job or two; I continued to stay in touch with previous co-workers, job recruiters, and etc. Just in case I needed a referral or a lead on jobs. Keeping communication and good standing professional relationships with individuals could potentially be exactly what you need to help in a job search. 

Systems & Process: When I go into buildings on the wall I notice an emergency exit plan, when I get on planes they share the emergency exit plan. The lesson is to create systems and processes for the emergency exit plan for being laid off. Having a plan in place is important. 
Keeping my resume up to date, getting online recommendations while still employed, having a check list of documents and information needed prior to being laid off, think chess, not checkers!  

In a nutshell, I saved my coins, created a plan B (and maybe a plan C), kept consistent, effective communication and created an emergency exit plan! 

I’m not saying this made things easier; I still had a panic attack or two. But once that subsided, it was nice to know I had a plan in place and was prepared. 

Of course at the end of the day do what works best for you. 

Just remember small changes make a BIG difference!

---