Layoffs have been a growing concern both for the management as well as the employees of many companies. With the advent of technology and the introduction of AI enabled-tech in many countries, the demand for upskilled workforce is on the rise. It is almost as if it has become a statement for Tech-giants across the globe to dismiss thousands of employees within a span of time. In this article, we have highlighted different ways to deal with a layoff and how you can find a better job after a layoff.
There are other reasons as well, project-based hiring, corporate restructuring which results in casting out a major chunk of manpower or a spin-off may also lead to a layoff. If you have also faced a layoff situation then you need not worry as this article will help understand how to deal with a layoff and get a better job. Crying over the past will not help you get a better job, but working hard and developing the required skill set will definitely make you a worthy asset to any organisation.
WHAT IS A LAYOFF AND WHAT DOES IT MEAN TO THE RECRUITERS?
A Company starts firing in bulk when the management is not able to justify the retention cost associated with the profits derived from the employment of a person. The top-level management is looking to cut costs in order to streamline the hierarchy and improve efficiency within an organization. This however is just the tip of the iceberg as the main reason is the lack of flexibility at your workspace which may lead to an unsolicited layoff. You must know how to deal with a layoff in order to grow in your career. It takes a lot to get acquainted with new technology and thus an inability to welcome change in an organization could be one of the main causes for you having been asked to leave. Read our blog on the 5 BEST STRATEGIES TO BECOME SUCCESSFUL IN LIFE to have an in-depth understanding of the effective strategies that can help you grow in life.
COMBAT LAYOFF WITH THIS SLEW OF DIRECTIVES
1. Take Feedback and learn from your mistakes
Keep your worries at bay. While such situations cannot be termed as pleasant for anyone, it would only be more beneficial for one to speak with your employer regarding the condition. It’s a fix where only an open communication channel may bring some respite to the employee who is getting fired. If not anything else, feedback from your peers or manager would definitely help in the near future when you move out of the organization. Read our blog on STRATEGIES TO ESTABLISH AN EFFECTIVE FEEDBACK MECHANISM AT WORK to have an in-depth understanding of the importance of feedback and how you can use feedback for your growth. This is one of the answers to how to deal with a layoff. Apart from that, a profound assessment along with your family members or a close friend may also be fruitful in dealing with a layoff. Keep an open mind and learn from your mistakes. Taking feedback from your seniors will help you analyse what went wrong. Understand and learn from your mistake, it will help you sustain in the corporate world. Develop the requisite skill and search for other jobs of your interest.
2. Undergo Training and Development Programs
On-the-job training modules can really save the day in case you happen to come across a giddy situation like this. When you attend such in-house training programs, it makes you an asset for the company and it makes for a strong case making it difficult for the employer to let you go. While many companies provide training programs which are designed for their own, there is a dire need for more and more mentorship programs, wherein managers act as a guide to their team members in order to fulfil the demand of today’s corporate arena. There are training firms which design exclusive T&D programs for requirements pertaining to specific functions ranging from marketing to supply chain to production. You can undergo training and development programs in order to know how to deal with a layoff.
3. Lower your expectations
One of the most crucial points for how to deal with a layoff includes lowering your expectation. Don’t get bogged down as the circumstances will change, meanwhile, you may also want to consider working for a lower pay grade or a different profile or designation. While it is of utmost importance for you to stay vigilant of the start-up bubble wherein a lot of companies remain on the verge of closure. You must not keep very high hopes and maintain your cool in order for you to sail through. It’s difficult to fathom what is happening around us, but as they say when the going gets tough, the tough get going.
4. Take up a Course
An important aspect of how to deal with a layoff includes taking up a course. There are a lot of short-term courses being offered which can be really beneficial for you in the long run, in case layoffs happen in your company. Signing up for a course like a digital marketing course or learning about the intricacies of graphic designing can also come in handy at times like these. As perplexed as you may be, a little prudence would definitely make it easier for you to pick the right course. You can also enrol for one, alongside sustaining your current job profile. Some of the government initiatives have also led to the inception of learning programs for blue-collar workers as well.
5. Attend Workshops and Seminar
Apart from listening to motivational speakers, you can sign-up for a seminar, or symposium or maybe attend a few workshops which may or may not be related to your domain. This will give you the opportunity to explore new avenues and will also help you understand how to deal with a layoff. CEOs of some of the top agencies and hiring authorities of various companies are always there with the job-market updates to lend you a helping hand in such times. Networking could be another advantage of attending such seminars. You can also join online forums which keep you posted subsequently helping you in tapping new avenues and enhancing your growth prospects.
6. Read and Upgrade
“A man who does not read is as good as a man who cannot read.” The importance of reading cannot be undermined if you were to succeed in life. One such book that can be helpful in case a threat of a potential layoff is looming around would be “THE UNPARALLELED ROADMAP HANDBOOK TO GET YOUR DREAM JOB BY UDAY SONTHALIA”. When you are in great peril, it not only chalks out a step-by-step pathway for you to do well at your job but can also go a long way in retaining your post. If you want to be a part of the entourage, the aforementioned is a must. Acquiring new skills and upgrading your know-how would definitely keep the wheels going.
Apart from the modus-operandi mentioned herein, it is also crucial for you to keep abreast with the latest information and trends in the industry as it is always good to stay up-to-date. Besides getting a hold of your emotions and not letting them get the most out of you must boost your morale to a great extent. Although the situation in our country is a far cry from the worst, you should always be prepared for a rainy day and always keep an eye on newer opportunities. We have curated the above guidelines in order to help you understand how to deal with a layoff and hopefully, these points will be instrumental in making you come out on top.