Yes of course we see it now, the economy is very much down there in the dumps and not much good news coming around either to boost spirits at work or home; how is it all affecting your workplace life?
Are we just talking and discussing about it more at the social gatherings and at the water coolers or do we have a concrete plan (A or B) to help support us in case we are the victims of this downturn?
Oh no don’t get me wrong, not a plan on how to better the economy – that of course is the Washington problem– the plan is more on a personal level – what if I am in a layoff ?(your personal bailout plan)? Or.. How to survive in an economic downturn?
To plan ahead is a required diligence and smartness that we all need to have when the going gets tough. And having just one plan would not give you the security in an economic downturn when layoffs and long-term unemployment are not mere terms to be read in the newspapers but are pretty much evident in every work area and in your own office.
In my opinion, Plan A should be all about how to survive in a bad economy and how to keep your job (if you have one now) and Plan B must be all about on what to do if you are in layoff?
Some tips that are fall under Plan A:
- Make yourself valuable at your workplace
In an article on CNNMoney.com, Bob Eubank, executive director of the Northeast Human Retargets Association says, In order to avoid a pink slip, “everybody who is employed should remind themselves how important it is to make themselves as valuable as possible”. When the pink slips are prevalent everywhere and the projects are being phased out, top management always tried it best to retain the valuable workers or those who have made a difference to their profits – made cost saving proposals or initiated successful project development. And what better time than now when the economy is on rough grounds to propose some ideas that can cut expenses for your employer. Think about many ways how you can be valuable at the workplace and implement some of them at least.
Network within the company to find out if there are responsibilities that you can take on with your current skills. Taking initiatives shows that you are ready to give back more to the company and adds to your value as an employee. Are there some projects or areas which need assistance specially since the workforce has been cut down in a recent layoff spate within your company? If you don’t know, try your best to find out and support those who need help. Another way to make yourself valuable.
There is change all around and your workplace will be affected, either some projects will be completely cut off or there would be offers of relocation, if you want to continue with your present job be ready to move with the new decisions. If you can relocate inform your manager beforehand that if suppose a head count reduction happens in near future, you are ready to relocate to these locations (give a list of your preferred cities/countries before hand)
People react to change in different ways and often when the going gets tough we cut down on personal development mainly because we are feeling low or just want to continue doing what we are doing in order to be where we are. Well, not a good decision at all. Invest time and money in your personal and professional development; learn a new skill every year. Your skills are your best investment. If you have not talked to your manager about your career goals, don’t think that this is not the right time; it is always the right time to talk about your personal development and your boss will appreciate your initiative.
Don’t stress too much on the stocks falling and your invested worth on a nose dive; don’t let your health be a victim of your stress…you don’t want to be out taking too many breaks from work either
Bring lunch from home; a penny saved is penny earned
Some tips on Plan B:
Look up some tips that I have already posted in the last few weeks and months:
- Recreate and Diversify in a Recession
- What to do after a Layoff
- Accepting and Dealing with a Layoff
- Best Jobs to have during Recession
- How to be Optimistic during the Job Search Process
- Who all to Contact when Looking for a Job
Over time I plan to think about this topic and add more ideas and tips to this post, if you would like to share yours please add them to the comments.