Life after layoff As an individual nothing shakes up your life as much as a sudden loss of job. So what can be done in such times of crisis? ‘Layoff’, ‘Downsize’, ‘Workforce Optimization’ are no longer terms that sound strange to the average Indian employee. Although this corporate phenomenon hitherto has only been associated with the West, Indians are slowly coming to terms with its harsh reality albeit in a different way! For an individual nothing shakes up your life as much as a sudden loss of job. “One can equate the trauma of being laid off to that of losing a parent or a limb,” believes Shanth, a bank employee who fears losing his job each waking hour. Some say that the unfortunate event of being laid off can turn out to be a golden opportunity in disguise. “It is a chance to stop, catch your breath and figure out what you want to do with your life,” informs a popular US-based human resources website. However in India, only a handful of the working population is blessed with the financial power to tide through this unexpected vacation and devote time and energy in self-exploration. For a majority, it is the thought of how to get the next paycheque and the nightmare of how to pay the next home loan installment, which looms large. For a laid-off employee, along with the stress of job-hunting during tough times there is also the added emotional baggage of coming to terms with the fact that ‘YOU’ have been asked to leave. “Take comfort in the fact that there are many like you who have been laid off during these typically tough times and there was nothing personal that made you lose your job,” shares Madhukar, a back office worker at a publication house who has been given the pink slip last month and has just started working as a collection agent for a credit card company. So what are the steps that one needs to take to tide through the crisis? How does one deal with so much in so less time? First things first: Tend to your finances “While you are still working, work towards having three to six months' worth of living expenses in reserve. Draw up a plan to manage your household expenses and reduce your spending on extraneous luxuries like eating out or visiting multiplexes. Also avoid using credit cards since interest rates on these are really high,” advises Anil Shah, an investment consultant. Looking for a new beginning: Tap your contacts The ideal way to start your job search is to formulate an effective strategy. Fall back on your network and let the world know that you are free and looking for job openings. “Never feel shy to send a communication to all your friends, peers, former colleague and relatives telling them about your situation and you may be surprised with the help you get,” adds Madhukar. Contact a headhunter that specializes in your industry and get on the web to expand your search. Collect your dues: Ensure that you have been paid what you were entitled to You need to ensure that you have collected all your dues from your ex-employer. “Sign and submit all documents in time to ensure that your final settlement papers clear all that you deserved from the company. If your company is offering to pay a severance pay, read through the fine print and negotiate if you have the right to do so,” adds Vipul, an HR executive in an IT company. And finally: Stay calm Losing a job does not mean you have lost all hope in life! Being patient and having the right attitude will ensure that you pass these tumultuous times with ease. Don’t become a loner. Stay surrounded by friends and loved ones. Be physically fit and do not indulge in booze or smoke. In these times it is very ease to fall prey to addictions- steer clear from them. Even if it takes a few months, you will surely bounce back if you have courage and have the confidence to do so. Remember- after a spell of dark rainy days, sun does shine! If the worst is yet to come… When layoff rumors start circulating, it's time to make yourself indispensable. Here are some tips: • Meet your supervisors: Let them know what you're working on and get feedback on how you're doing. The idea is to convey your value to the organisation • Step up your networking: This should happen both inside and outside your company. • Update your résumé: Prepare more than one version. That way you can tailor it to suit the job you're applying for. -- --- You received this message because you are subscribed to the Google Groups "saimsg" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/groups/opt_out.
