By Caroline Ceniza-Levine,Senior Contributor
Copyright forbes
3 Ways To Get The Help You Need After A Layoff
Employees need more than what employers offer when it comes to getting laid off:
53% of employees worry about layoffs within the next year, and 91% say they aren’t prepared to look for a new job
58% of HR leaders admit their company doesn’t provide enough support to employees during layoffs
While 77% of HR leaders say their company strives to be fair during layoffs, 33% of employees say their employer did as little as possible to ensure fairness
These are just some of the findings from a new survey by career development and outplacement firm, INTOO, and research firm, Workplace Intelligence. Survey respondents included HR leaders and full-time employees in the US, the UK, Italy, Argentina and Brazil.
“Layoffs are difficult, even when handled with the best intentions. But the reality is that many companies are falling short—58% of HR leaders acknowledge their organizations aren’t providing adequate support to employees impacted by layoffs.” — Mira Greenland, Chief Revenue Officer at INTOO
What can you do if you’ve been laid off (or are worried about upcoming layoffs) and your company falls short? Here are three ways to get the help you need after a layoff:
1. Tap Company Allies For Job Search Support
If your company offers outplacement services (e.g., career coaching, resume and/ or interview preparation) take advantage of what you’re entitled to. The INTOO/ Workplace Intelligence survey found that one third of global companies offer outplacement. If yours does not, or in addition to what’s offered, tell supportive colleagues outright that you’re on the job hunt and would appreciate job leads. Confirm with your manager and other people who know your work that they are ready and willing to provide professional references. If your company is large enough, ask about openings in other offices or lines of business, including temporary or consulting work. Share what you’re looking for, and ask for help.
2. Tap The Right Friend Group For Emotional Support
The INTOO/ Workplace Intelligence survey found a perceived lack of empathy – 60% of employees reported that their leaders lacked empathy towards laid off workers. For emotional support, you can’t count on your company so lean on friends. Pick the optimistic ones who are good listeners, and avoid the cynics for now. (Later in your job search when you need someone to play devil’s advocate, you may want to tap that cynical friend to help you see potential obstacles.)
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3. Run The Numbers On Your Financial Support
Any severance you receive, plus savings already in the bank, are the income side of your financial support. On the opposite side are your expenses, and while you’re unemployed make it a game to get these as low as possible. Substitute potluck dinners in lieu of going out. Find out when your local grocery has special sales. Trade babysitting services with other parents. If your income minus expenses is not going to last for at least six months (job searches are taking longer these days), then take on a low-stress, transitional job – e.g., consulting to your former company (see Point 1), working at a neighborhood store or restaurant. No job is too small or menial if it gives you the means to support yourself and keep your job search going till you find the right next career opportunity.
Beware of expensive money! Borrowing from retirement accounts, running up credit cards or tapping into your home equity are other sources of funds, but should be considered a last resort. Raiding your retirement is robbing from your own future. Credit cards have notoriously high interest, sometimes in the high double-digits which means the amount you owe can double in just a few years. Borrowing from your home endangers your housing if your job search takes longer than expected, and you can’t pay the amount back.
Treat Your Job Search Like Your Job
The best way yu can help yourself after a layoff is to treat your job search like your job. Give yourself a schedule. Fill up your calendar with networking meetings. Invest in research – of companies, people and roles. Spend time on marketing with an updated LinkedIn profile, resume, cover letter template and interview responses. Track key performance indicators (KPIs) such as job applications, contacts made, meetings held, and hopefully callbacks and ultimately offers.
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