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When the Layoffs Hit Home
December 04, 2008
Part II of "Mentally Preparing for a Layoff"
By Jeff Schmitt
You can't escape the horror stories: stocks dropping, neighbors foreclosing, jobs disappearing. For months, you've watched the world spiral out of control. And now it hits home—your job is on the line too. Naturally, you start dwelling on worst case scenarios, where bills and rejection letters pile up. You even imagine returning to cashiering or waiting tables.
For years, your leaders encouraged you to step out of your comfort zone. It was easy advice to give from their lofty perch. Unfortunately, there won't be any golden parachutes and stock swaps in your future. Still, the advice has special resonance during a restructuring: You can't play it safe. Job security is an illusion. You're responsible for watching your own back.
In my column this month, "The Personal Touch: Mentally Preparing for a Layoff," I discuss ways to get yourself ready to prepare for the worst so you aren't left hanging out to dry. But if your company is bleeding red ink and a reduction in head count looms (or worse—you're already the victim of downsizing), you may want to consider the following:
• Do Your Homework. Today, health insurance is a must. Without it, you risk losing everything. Before you’re served walking papers, look into alternatives like COBRA. Examine your benefits package too. Take advantage of everything—medical and dental appointments, prescriptions, new glasses, free admissions—while you're still employed. Know how unemployment works (and what your rights are). Keep tabs on your commission and vacation time, along with anything else you may be owed.
You always learn an employer's true colors when money is involved. Employers have little bottom line incentive to care for you. If you're shown the door, don't be shocked by a barebones severance package. It is callous and short-sighted, but it isn't personal. And the message to remaining staff will be received loud and clear.
• Vent. You can already read the tea leaves. Certain departments will still run fat; the office pets, golf buddies and clandestine liaisons will get a free pass. You'll hear excuses, like redundancies and economic contractions, knowing full well they're smoke screens for poor imagination, planning and execution. As always, you'll sweat the pink slip while the higher-ups insulate themselves. And the political class will shift blame and massage facts, all while you pick up the pieces and pay their bills.
Downsizing is unfair. You've invested years of your life, and all the dreams and sweat equity that come with them. Now, it can all be taken away. You can silently seethe, allowing the poison to fester—or find a trusted confidant. Turn to a friend or mentor outside your company for comfort. There were so many times when you were there for others. Now that kindness can be returned.
• Don't Slack. While the higher-ups decide who stays and who goes, you sit in a holding pattern. You're on edge, antenna up, not knowing how long you have. If this is the end, preserve your dignity and finish strong. Stand out in your final days. Tie up those loose ends. Add accomplishments to your resume and reinforce your corporate legacy.
Consider each day a blessing. Stay on good terms with everyone—you may work with (or for) them again. Most of all, be supportive; your peers are experiencing the same anxieties. Do everything you can to make their days easier and rewarding.
• Look Beyond Your Home. A job hunt will sweep away any illusions you hold about yourself. Everything you did in the past matters little to prospective employers. And there are so many people out there just like you. In the end, you may have to settle for a job far below your capabilities and salary expectations.
To fulfill your potential, consider moving. A fresh start won’t be an easy journey. It means leaving family and friends behind, changing routines and taking risks. And it will forever alter the lives of your family. That's why advance work is so important. Start identifying markets where you might fit. Research their schools and real estate. Weigh their quality of life and cost of living. Know what will all be involved in moving. And before you accept that job, make sure you’re on the same page with your employer. You must be one hundred certain in their expectations, vision, strategy and integrity, no exceptions.
You'd eventually need to re-locate to move up anyway. Just be sure you're getting back more than you're giving up.
• Visualize. When it finally happens, will you be ready? How will you handle the news? Will you unload all those pent up grievances? Cry? Or simply accept the inevitable and move on? If you're not sure, rehearse your reaction. Talk to others who have gone through downsizing. Know what questions to ask. Know what not to say too—it could be held against you later.
Even more, be ready for what comes next. Understand that last commute home will be the longest of your life. Recognizing your fears—status loss, lifestyle change, added relationship stress—will produce far more collateral damage than the job loss. And don't be surprised if former peers are uncomfortable when you reach out. Despite all the favors, lunches and baby showers, you're also a cautionary tale. They're just trying to keep their heads down and hold onto their job. It isn't betrayal; you'd probably act the same way.
After the disbelief wears off, you'll also be left with one question: How will I use my time when time is all I have? Put a plan in place before you're downsized. Don't spend your first weeks surfing or watching Frasier re-runs. Create a daily to-do list and schedule. Budget time blocks on everything from sending resumes to re-caulking the shower. In this market, you can’t coddle yourself. You need to hit the ground running.
• It Isn't the End of Your World. When the smoke clears, you'll have a job or you won't. Of course, there are drawbacks and advantages to both.
If you survive the purge, you'll inevitably pick up a larger workload. At first, you'll work in a daze, riddled with survivor's guilt. Of course, layoffs also enable companies to remove the deadwood, get focused, return to basics and re-think the operation. That means new opportunities and increased exposure and responsibilities. In short, you may get that rare shot to truly prove yourself and move up.
In contrast, you'll ask yourself one question when you pack up your box: Where do I go from here? It won't be easy. Despite all the networking, researching and interviewing, you’ll come away empty more often than not. Fair or not, employers have the upper hand; they can get away with almost anything. Still, a layoff is a chance to scrape away the complacency and re-invent yourself. It is a time to play ball with your sons and daughters. It is a hidden blessing, a momentary pause to help you re-evaluate and rejuvenate. And even if the months and rejections pile up, remember this: it only takes one employer to turn your luck around.
S&MM online columnist Jeff Schmitt works in publishing in Dubuque, IA. His monthly column, "The Personal Touch," is designed to help managers and professionals step back and evaluate how they think, interact and work. His e-mail is jschmittdbq@mchsi.com.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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