Get-Set-Go strategy will help you to bounce back from layoff
- “What Happened to my work life ” – it is crystal clear that layoff/job fire happened.According to TrueUp’s tech layoff tracker, there have been 1138 rounds of layoffs attech companies globally so far this year, affecting 182,605 people. We should understand that all jobs are disposable and one may not control the market. Thus,rather than living to work, we should work to live.
“There is no such thing as job security. Winning or losing is now happening faster than ever before.” ― Nicky Verd.
- “Why was I laid off?” – The reasons why layoffs happen depend on many factors.But few factors that layoff decisions are frequently based on –
- One of the biggest is your term of employment – Many organizations follow “LIFO- Last in First Out principle”. So we need to understand and try to maintain an average retention period with the organization by analyzing pros and cons of the job position and our talent by keeping in mind that we are working for the betterment of the company.
- Another is the Job function – If multiple persons are working for the same job function, if the majority of your job function can be automated then it is the time for the management to think and make decisions.
- If your Job role can be outsourced for less money then you are in a challenging situation. In both the above cases, ask your boss whether you can broaden your responsibilities or take on additional, more important tasks. So that there may be a chance to stay off from the layoff list.
- Talent, Experience, Skills these are the vital points in considerations for a job role. Management will also find redundant positions and outdated skills or non-suitable talents during their business strategy mapping. It goes without saying that employees in these groups are more likely to lose their jobs.
- Additional elements, such new management and a shift in the company’s direction where positions are redefined. A company’s leadership, corporate emphasis, and direction may change if it is acquired by or merges with another business. Your chances of using this expertise to keep your employment with the new organization will increase the more you can learn about it. Note: Not only layoffs/job fires, resignations may also happen in the merging or buyout stage.
- Performance based criteria is one of the major factors to decide the job fires/layoffs. The company management frequently evaluates team members’ work performance and ranks them against their coworkers to keep the best performers. Additionally, managers search for desirable traits like work ethic, teamwork, and flexibility as well as critical soft skills like collaboration, communication, and problem-solving skills.
“A shift in mindset is required to thrive in the current era and this cannot be achieved at an academic level, social latitude or political sphere but at a personal level.” ― Nicky Verd.
- “What should I do” – Here comes “ work – leisure balance”. The word “layoff” is already buzzing and becomes a hashtag of the season. Several employees are left emotionally,financially and mentally damaged as digital titans like Meta, Twitter, Disney, Amazon, and many others, go on layoffs. For an individual this buzzword brings a lot of stress, One can easily bounce back from being laid off with simple strategy with proper implementation plan.
- Take some time to process what happened, discuss with your family or wellwishers. Complete all the legal formalities with the employer.
- To handle “work-leisure balance” in a meaningful way, spend some happy and cheerful time with your family, go on medical appointments if any, start an effective exercise regimen, and Set some goals for yourself and organize your finances and finally recharge yourself.
- Parallalley, look in your professional contacts and advertise your skills, talents and readiness to new projects.
- Set your mind to face any kind of situation, celebrate your strengths and victories, create a future plan to implement, and be a mentor.
- Create a website for your portfolio, Create a blog, and dedicate yourself to your hobbies.
- Very important is pick-up a new skill to advance your career, upskill-reskill-techskill yourself to be relevant to the job market and to stand first.
Upskill-Reskill to stay off the layoff List
In this era of uncertainty and rapid change in the job market, the ability of an individual and the lack of talent for companies are two sides of the same coin. Performance and learning new abilities are the two key ingredients for an employee’s survival in this time, and organizations are definitely concerned about closing the skills gap and finding the right personnel in a time of talent scarcity. The World Economic Forum estimates that, by 2025, 50% of all employees will need reskilling due to adopting new technology. Upskilling is crucial for workers to stay relevant in the current world. If businesses want to thrive in today’s fiercely competitive world, they must invest in upskilling their workforce. Although expensive in terms of time restrictions, upskilling has numerous advantages when done effectively. “The future belongs to those who learn more skills and combine them in creative ways.” – Robert Greene Summary: In this digital age, the ideal plan is to continually upskill and reskill yourself and stay off the layoff list.