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How to Prepare for a Layoff

How to Prepare for a Layoff
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Layoff Lethargy

    Lately, it seems like every day brings yet another headline about impending corporate job cuts. Maybe you’ve even heard rumors that your own company is planning to downsize. Could your job be at risk?

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    Unfortunately, in today’s world, no job is ever 100% secure. Layoffs have become standard operating procedure for many companies. They hire when business looks good and cut jobs when results fall short of estimates. And it often doesn’t matter how good you are at your job or how hard you work.

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    Nobody relishes the idea of becoming suddenly unemployed, but a layoff doesn’t have to be the end of the world. The key to minimizing the stress and negative fallout is to prepare now for the possibility of a pink slip.

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    Trust me, I speak from experience. In more than twelve years of working for large corporations, I’ve lived through countless downsizings, reorganizations, and mergers. In most cases, I survived to work another day. However, I twice found myself among those packing up their desks and turning in their employee IDs. The first time, I was caught unprepared. The second time, I was ready, willing and able to embrace my layoff for what it was — an opportunity to finally make a career change that I had been dreaming about for years.

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    Follow my advice and you too can make sure layoffs won’t knock you for a loop:

    1. Stay in the Game – First and foremost, never stop looking for new career opportunities – even if your current job feels comfortable and secure. You never know when your dream job might open up. Keep your resume updated and make sure that the right recruiters have your phone number. You should always have a passive job search in progress. That way, you’ll always enjoy a steady stream of job leads and you’ll have a head start on landing your next position if you get laid off. This may sound like obvious advice, but few people truly take it seriously until it’s too late. Don’t allow yourself to be lulled into a false sense of security. When the layoff rumors start buzzing, goose your passive job search and get a little more active about exploring your options.
    2. Demonstrate Your Value – To increase your odds of hanging onto your current position, do whatever you can to show your manager the value that you provide. This is no time to be modest. Make sure you document your contributions and ensure that your boss understands how much harder her job would be without you.
    3. Don’t Take Any of It Personally – While it doesn’t hurt to demonstrate your value (see above), keep in mind that even the most valuable employees can be laid off. Layoff decisions are based on many factors. Sometimes, it’s about who was hired last. Sometimes, it’s about who makes the most money. Sometimes, there is no clear reason for who winds up on the chopping block. Don’t let rumors and speculation mess with your head. There’s only so much you can do to influence whether or not your name will show up on the layoff list. Don’t waste energy obsessing about what might happen. Channel your energy into figuring out your Plan B.
    4. Build Your Emergency Fund Cut back on discretionary purchases and put as much of your paycheck into your emergency savings fund as you can. Financial planners recommend that you should have enough in your emergency fund to cover your expenses for between three and six months. Hopefully, if you do get laid off, youll also have a severance package that will help you pay the bills. However, the more you can sock away, the more peace of mind youll have if the axe falls.
    5. Do Your Research Find out what kind of severance packages your company has offered in the past. Chances are that some of your colleagues have survived previous rounds of job cuts and can give you some general guidelines regarding what to expect. With a little luck, you might be pleasantly surprised at your companys generosity and realize theres no reason to panic.
    6. Do Your Housekeeping Often, when layoffs are announced, employees are rushed out the door and given little time to pack up and say goodbye. This is generally to prevent unpleasant scenes. However, if you think you might be facing a quick heave ho in the near future, you’d be smart to pack up your important possessions in advance. Make copies of work samples, performance reviews, and other key documents. Make sure you transfer all of your contacts to your personal computer. Start lugging home your extra pairs of shoes and family photos.
    7. Remember to Look on the Bright Side At worst, getting laid off is a temporary trial (and you will get through it, I promise). At best, your layoff may be the kick in the pants you need to find a more fulfilling job. I interviewed dozens of successful career changers for my forthcoming book and many of them spoke of being thankful for their layoffs (some of them volunteered or even begged to be let go). Their severance packages gave them the time and opportunity to pursue the careers of their dreams. If youve been unhappy in your current career path, this layoff may be your chance to explore your options.

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    Last Updated on December 10, 2019

    7 Strategies to Keep Employee Motivation High

    7 Strategies to Keep Employee Motivation High

    Highly motivated employees are essential to the success of any business. Most people spend a third of their lives at work.[1] That’s a significant amount of time away from home, apart from the people who make us happy and the things we love to do. So keeping employee motivation high is essential for creating an office environment that gets the best out of our people.

    But do you know what motivates your people?

    It’s simple:

    • Is their work stimulating?
    • Does it challenge them?
    • Is there room to grow, a promotion perhaps?
    • Do you encourage creativity?
    • Can they speak openly and honestly with you?
    • Do you praise them?
    • Do you trust your staff to take ownership of their work?
    • Do they feel safe in their work environment?
    • And more importantly, do you pay them properly?

    Every one of these factors contributes to the general happiness of your employees. It’s what motivates them to come into the office each day and work hard, hit goals, and get results.

    In contrast, an unmotivated employee is typically unhappy. They take more sick days, they’re not invested in seeing your business succeed, and they’re always on the lookout for something better.

    Stats show that 81 percent of employees would consider leaving their jobs today if the right opportunity presented itself.[2] So it’s up to you to set aside time and energy to create a work environment that benefits every one of your employees.

    These seven strategies will help you motivate your people to consistently deliver quality work and, more importantly, to stick around for the long term.

    1. Be Someone They Can Rely On

    You rely on your people to turn up to work each day, to come to you when they have a problem they can’t solve, to be honest, and to always engage professionally with customers.

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    But this is not a one-way street. You, too, need to be someone your team can rely on. They trust you to have their backs when a client is unreasonable, to know that the decisions they make are in your best interest, and to make good on your promises.

    If you say you’ll attend an important meeting, be there. If your company makes a profit and you’ve said you’ll pay a bonus, pay it. The goodwill of your people is something you never want to test, let alone lose.

    Be reliable; it’s astounding how much this motivates your people.

    2. Create an Awesome Company Culture

    There’s no denying that company culture trickles down from the top. Your leadership and attitude massively influences the attitudes, work ethic, and happiness of your staff. If you’re always stressed-out, overly demanding, and unreasonable, it’ll create tension in your office which will adversely affect your employees’ motivation levels.

    In fact, the HAYS “US What People Want Survey” found that 47 percent of staff who are actively looking for a new job, pinpoint company culture as the driving force behind their reason to leave.

    So if you have high staff turnover, you need to determine whether your company culture might be the motivating factor behind your churn rate.

    Here are four ways to build a culture that keeps your employees highly motivated.

    • Be conscious of the image you present. Your body language and attitude can positively or negatively impact your employees. So come to work energized. Be optimistic, friendly, and engaging—this enthusiasm will spill over to your people and motivate them to be more productive and efficient.
    • Appreciate your people and be reasonable. Celebrate your team’s achievements. If they’re doing a good job, tell them. Encourage them to challenge themselves and try new things. And reward when deserved. If they’re struggling, help them. Work together to find solutions and be a sounding board for their ideas.
    • Be flexible. Give your people opportunities to work remotely—this is highly motivating to staff, particularly millennials. They don’t want to be battling traffic each day on their way to work. They don’t want to miss their kids’ baseball games or ballet rehearsals. Stats show that companies that offer flextime and the ability to work from home or a coffee shop have happier and more productive employees.
    • Create employee-friendly work environments. These are spaces that inspire and ignite the imagination. Have you ever been to Google’s offices? No headquarter is the same. From indoor slides and food trucks, to hammocks, and funky work pods on the wall, gaming rooms, and tranquil interior gardens, there’s something for everyone. It’s a space where people want to be, catering to their need for creativity, quiet, or team building; you name it.

    So take a look at your company culture and ask yourself, Is my business an attractive workplace for talented professionals? Does it inspire commitment and motivate my people? What could I do to improve my company culture?

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    3. Touch Base with Your Team Weekly

    Make time for your people, whether you run a remote business or work in an office, set aside time each week to talk to your people one-on-one. It’s non-negotiable.

    When there’s an open line of communication between staff members, work gets done. Don’t believe me? A study by Gallup found that 26 percent of employees said feedback from their leaders helps them to do a better job.[3]

    Your people want to feel trusted. They want to take ownership of their work, but they also need to know that when they have a question, they can reach out and get answers. If you’re unwilling to make yourself available, your team will quickly become unmotivated, work will stagnate, and your business will stop growing.

    So block off time on your calendar each week to touch base with your people, even if only to let them know that what they’re working on matters.

    4. Give Them the Tools They Need to Do Their Jobs Well

    Imagine trying to run your business without electricity. How would you contact your clients? What would happen when your phone or computer battery died?

    Technology is super critical to the success of your businesses. It allows you to work more efficiently, to be more productive, and to handle matters on-the-go. That’s why you need to give your people tools that will make their jobs easier.

    Make sure their equipment is in good working condition. There’s nothing more frustrating than a laptop that takes ages to boot up. It’s got to go. Replace outdated software with new software. Don’t make your designer work in Coreldraw; give them access to the most up-to-date version of Adobe Creative Suite. Take it a step further and buy them a subscription to Shutterstock or Getty Images.

    Make working for you a pleasure, not a pain; and watch your employees’ motivation levels rise.

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    5. Provide Opportunities to Learn and Upskill

    Would you believe me if I told you that 33 percent of people cite boredom and a need for new challenges as the top reason for leaving their job?[4] If you want to retain your talent, you need to upskill.

    Thanks to technology, we live in a rapidly evolving world that demands we change with it. A copywriter is no longer just a writer; they now need to be experts in SEO, Google Adwords, CRMs, and so much more.

    A pastry chef needs to be a food stylist, photographer, and social media manager. An entrepreneur needs to be a marketer—or at least take ownership of the marketing message for their business—if they hope to scale.

    Technology makes all of this possible. No matter your location, your people can continuously expand their knowledge and gain new skill sets—something that’s highly motivating to employees. They want to know that there are opportunities to grow and develop themselves.

    If you won’t invest in your people, then your business becomes just another job to tide them over until they find where they truly belong. So be the company that sees value in developing its people.

    6. Monitor Their Workload

    Overworked employees tend to be unproductive and unhappy. Your people cannot be at full capacity every day, month to month. Something’s got to give. They’ll become deflated and their work will eventually suffer, which will negatively impact your business.

    What I like to do is implement a traffic light system. It helps me to keep a finger on the pulse of my business. So there’s red, yellow, and green:

    • Red means they’re fully loaded.
    • Yellow means they’re busy, but they can potentially take on more.
    • Green means they haven’t got enough to do.

    I use this traffic light system because I don’t want my team members to be stressed out of their brains all the time. If they are, they won’t make good decisions and they won’t do good work.

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    If my people are regularly overloaded, I have things to think about. Perhaps I need to hire a new person to help ease the load or take a closer look at what projects are good to go, and which can take a back seat.

    And this is why #3 is essential. If I’m regularly engaging with my people, I’ll know that while they’re coping with their workload, it is impacting their performance and health, and I’ll take action.

    7. Don’t Mess Around with Your Employees’ Pay

    Never mess around with your people’s salary. As a business owner or high-level manager, it’s easy to forget that most people live from paycheck to paycheck. Delayed compensation can mean a missed bill payment, which could result in costly penalties they can’t afford or hits to their credit score.

    So it’s your job to ensure that you pay your people on time.

    The Bottom Line

    A motivated team is an asset to any business. These people never give up. They get excited about coming to work each day and can’t wait to test a new theory or tackle a particularly tricky challenge. They’re proud of the work they do. And more importantly, they have no reason to leave.

    Wouldn’t you rather be part of their success story than the business that drove them away?

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    Featured photo credit: Emma Dau via unsplash.com

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