Your job may not be terribly secure. In fact, up to 77% of people are anticipating layoffs, according to a new global study of almost 10,000 people by LHH. With the shock of impending layoffs, you’re wise to be proactive—so you can land on your feet.
And beyond ensuring you survive, you can also plan to thrive. Ironically, when your job turns upside down, it can be the perfect opportunity to embark on something new or better—paving the way for career advancement.
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The Fear Is Real
A large number of companies have undertaken layoffs or are planning to (47%) and another large number are considering reducing their workforce (30%), according to the LHH poll. As a result, employees are facing a reduction in job security.
Companies say they’re faced with reducing their workforces because they over-hired (41%), because of the need for cost-cutting (40%), because of restructuring (39%) or because of poor business performance (38%).
Not surprisingly, people are worried, with 36% expressing fears about being downsized by their current employer and another 45% saying that layoffs in their industries could affect their future career options.
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But even with these alarming statistics and very real concerns, there are pragmatic steps you can take for career cushioning and to be ready for potential bad news.
Build Your Network
The first thing to do if you feel the ground moving beneath you, is to build relationships and your network. Reach out to people both within your organization and outside of it. Seek input about the market and where new job opportunities may reside.
Stay in touch with people who are your advocates, mentors and potential recommenders for your next job. Request introductions to people in your field or in adjacent fields which could contain your next opportunities.
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You are wise to do all this networking before you need to—so you have bridges built even before you need to cross them. Also focus not just on creating superficial connections, but on building rapport and relationships. Tune into people, ask questions and get curious about what you can learn from them. Seek to support others, not just to look for help from them.
Build Your Confidence
If you get laid off, one of the toughest things can be to maintain your esteem and feelings of value. This is natural because most people gain a sense of identity from their jobs. As a result, now is the time to validate and remind yourself of how strong your skills are and how unique your expertise is.
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Make a list of your talents and the ways you deliver substance. Quantify it as much as possible and recall stories about how you’ve made a contribution. All of this is great for your esteem and your confidence, but also important raw material for updating your resume or giving concrete examples in an eventual interview.
Build Your Skills
Also be proactive about building your skills. Hiring managers look for people who are constantly learning and growing. Take advantage of the classes offered within your organization and seek development through your professional association.
Also get involved in your community. Volunteering can be a terrific way to develop yourself as well as a way to get to know others who can help you find your next job, should you need the help.
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When the future seems uncertain, it can be a great time to amp up your investment in yourself, your skills and your future direction.
Build Your Brand
You’ll also want to pay attention to your personal brand. You can build it intentionally by joining communities associated with your areas of expertise or development. These can be either virtual or face-to-face. Get into the flow of the dialogue related to your field by sharing, liking and commenting on key content.
You also build your brand by performing effectively. You’ll be viewed as an expert when you add real value.
Build Your Resilience
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Perhaps most important is to keep calm and maintain resilience. Stay focused on your work and the contribution you’re making, so you protect your reputation. Tell yourself you can get through tough times. Remind yourself of all the challenges you’ve already weathered and the ways they’ve made you stronger.
You faced the career setback and came back from it. You were challenged to get through the tough project, and you created partnerships with other team members to succeed. You had a personal struggle and were able to survive it with your career intact.
Know that everything you’ve been through has prepared you for where you’ll go next—especially when you keep your eyes wide open to anticipate what could happen and stay oriented toward action—in getting layoff-ready.
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