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5 Ways to Prepare for Job Loss Before It Happens

5 Ways to Prepare for Job Loss Before It Happens

Wendy Piersall | Excelle

I’ll never forget my first day back at work after my honeymoon. The company president’s secretary said that he wanted to sit down and talk to me. I was completely confused. All I could think was, “Why does he want to talk to me? Maybe to give me a wedding present?!”

Yeah, some wedding present. It turned out he had decided to eliminate the entire marketing department while I was away. And I got to go home to my brand new husband and give him the news of my first layoff.

I recovered pretty well from that experience. It was in 1998 – the economy was pretty strong, and I had good skills that enabled me to find work quickly. But now, 10 years later, the job outlook for a rebounding employee isn’t quite the same. And layoffs are becoming all too common.

As an entrepreneur, I’ve found myself in similar predicaments when I had all of my eggs in one basket. After getting burned one too many times, I’ve spent the last two years putting lots of eggs in many baskets. And it’s certainly paying off right now. Here are 5 things I’ve done to keep my finances afloat no matter where I’m working or what happens with the economy:

1. Stay on Top of Networking

Many people I know only make a conscious effort to network when they need a job. Honestly, the worst time to make the connections you need is after you need them. If there are jobs to be had, they are going to go to the most highly recommended candidates. Often, great jobs aren’t posted publicly.

Whether you get out to luncheons, volunteer with professional associations, or even stay on top of your Facebook and LinkedIn connections, you should make a habit of networking on a regular basis.

2. Take on Side Projects

This isn’t always easy to do when you are in a full time position. But if you can manage just one or two freelance projects a year, you are going to be much better positioned than those who haven’t. While ideally it would be best to find paid consulting or freelance gigs, even volunteer projects are beneficial to your career. If you get laid off, your old clients will be your first avenues to picking up work.

3. Start a Side Business

Again, this isn’t a great option for the time-challenged. But it is also the best safety net you can create for yourself. Blogging, affiliate marketing, eBay selling, and direct sales with companies like Pampered Chef offer extreme flexibility while helping you to build a second mini-career. Many people even find that their side business can become a full-time businesses with persistence and patience.

4. Be a Constant Learner

If your company offers training or tuition reimbursement, take advantage of it as often as possible. The investment they’ve made in you might be a deciding factor in whether they lay off you or someone else in the department. If you don’t have these opportunities at work, you should take it upon yourself to keep your skills up to date and learn new technologies. The more you know, the more marketable and valuable you are to a company.

5. Have 2-3 Recruiters in Your Network

As a former recruiter, I can’t recommend this more highly. When positions open up, the first people who come to mind get first crack at the job. Be sure to meet and stay in touch with recruiters who are in your industry. Also, maintain & distribute your resume even when you aren’t looking for a new position.

Another tip: make sure you use plenty of good keywords for your skills and experience in your resume. It’s a sure-fire way to stand out from the crowd.

Read more:
It’s Not a Glass Ceiling, It’s a Sticky Floor
This Digital Business Life
Don’t Be Afraid to Be an Expert


+22
  • Greceaaaa2_max50

    grace2U

    over 2 years ago

    786 comments

    Hello
    Nice meeting you here, how are you today i will want us to be friends contact me here with my e-mail address (gracewill32@yahoo.com ) because i have a special reason why have contacted you so that i can send you my photos and also tell you more about myself here is my e-mail address( gracewill32@yahoo.com ) you can also drop me your email mail address i am waiting to get a reply from you remember that co-lour, language or age and distance does not matter but understand matters
    Yours New Friend
    Miss Grace

  • Hpim1902_max50

    kbtordai

    about 5 years ago

    1556 comments

    Great tips, Thanks!

  • J0178930_max50

    ApresSki

    over 5 years ago

    18 comments

    Nice to see I'm 5-for-5! I just signed up last year for LinkedIn. And already, I'm making friends and influencing people . . . of course it's vice versa as well! I've spent more time on LinkedIn that ever before because I can't believe how many professionals there are just hangin out on the net. AWESOME!!

  • Photo_user_blank_big

    credbyrd

    over 5 years ago

    18 comments

    Balance is the key. . .some of us do better with more and others with less. Don't overwhelm yourself, but stay on the cutting edge of business that fits your talents and dreams.

  • Paris_fall_2008_031_max50

    Christinel

    over 5 years ago

    4 comments

    Apparently I've been in the same business for too long, anyone else have this problem?

  • Paris_fall_2008_031_max50

    Christinel

    over 5 years ago

    4 comments

    Apparently I've been in the same business for too long, anyone else have this problem?

  • Belkis_ar02_max50

    Belkis

    over 5 years ago

    152 comments

    Great advice! Some stuff I already started to do like starting a blog site on the side. I wasn't sure if this was a smart thing to do even though I have the time. Thank you for reinforcing that I am on the right track.

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