Layoffs Looming? Safeguard Your Career With These 7 Steps

The threat of layoffs remains ever-present even in a strong economy, often brought on by restructurings, mergers, acquisitions, or industry-specific downturns. Recent layoffs in the Tech sector have left many professionals feeling uncertain about the stability of their jobs. If faced with the possibility of layoffs, it's important to approach the situation strategically. Consider whether a layoff could present an unexpected opportunity, as negotiating a well-structured severance package could essentially compensate you for your job search. In some cases, individuals have successfully managed to secure both severance income and a new job income simultaneously. While explaining a layoff and any resulting resume gap to potential employers might be necessary, a history of job stability can make this process easier. If concerned about the prospect of a layoff, take proactive steps to protect your position while also using the situation as an opportunity for professional development. 

Make efforts to keep your skills marketable and seek out projects that can enhance your value to current and future employers. Consider joining associations with active memberships and relevant programs to stay abreast of industry best practices, and pursue educational opportunities to keep your skills cutting-edge. Additionally, identify a niche area in which you can become indispensable to your employer. One approach is to demonstrate how your expertise can be leveraged to benefit the organization, as this can make you less expendable during periods of restructuring or downsizing. It's crucial to remember that, regardless of your level, your primary job is to please your boss. Managing your boss's expectations is essential, especially during times of leadership changes or reorganizations. Communicating your value effectively can be a key factor in retaining your position. Crafting a compelling pitch and tailoring it to your resume and LinkedIn profile is also vital. Ensure that your unique skills and strengths are well-communicated to your current or prospective employer.

 Building strong relationships within your organization is invaluable. Take advantage of informational meetings with internal decision-makers to showcase your value and establish connections. Keep an open line of communication with potential opportunities in mind at all times. Demonstrating leadership qualities can also bolster your position within the organization. You don't necessarily have to manage people to lead - identifying and implementing improvements within the company can showcase your potential for leadership. If a layoff seems inevitable, negotiation is key. Seek to negotiate the terms of the severance package, the departure date, and potentially alternative work arrangements, such as consulting opportunities to support a transition period. It's also important to gather any pertinent internal contact or organizational information before your departure, as access to this information may be limited post-layoff.