10 Steps To Take If You Are Afraid of Being Laid Off Next!
I was part of the 4th round of layoffs at Meta. When the 1st round of layoffs happened, I was completely agonized. Two days before the news, I didn’t sleep, I didn’t eat, I merely existed. Once I knew I was “safe”, I promised myself I would do everything to be in a better spot if I ever face such a situation again…
Six months later, I was impacted!
You are never ready to be let go but I was definitely more prepared. So, here are 10 essential steps I highly recommend EVERYONE to put in place if they suspect their company may be heading towards layoffs.
1. START SAVING…
Start saving more! If you haven’t started an emergency fund yet, it’s time to get going. Personally, I’d recommend aiming for six months’ worth of expenses tucked away. I know, it might seem frustrating to have a chunk of cash sitting in your savings account, but trust me, when the wings of uncertainty blow, you’ll be grateful for the safety net.
2. MAXIMIZE YOUR 401K AND ROTH IRA
If your company offers 401K benefits, it’s a wise move to contribute at least the same amount they match. And if you foresee a stretch of job-hunting ahead in the next six months, it might be worth considering maxing out your 401K for the year. The same goes for your Roth IRA: if you’re eligible to have one, aim to make the most of it.
3. EMBRACING WELLNESS: SEEKING A THERAPIST SUPPORT
Now that you’ve got your finances in a comfortable spot, let’s shift our focus to something equally vital — your mental well-being. The rollercoaster of layoffs and all that uncertainty can really weigh on you. Take a moment to think about connecting with a therapist. I promise you, it can make all the difference.
And here’s an exciting tidbit: your company might offer a wellness program with some incredible resources, like Lyra! They’re there to support you.
For instance, I personally found it incredibly valuable to work on separating my identity as a person and a professional from the company I was working for.
4. WELCOME THE CHALLENGE: TAKE ON THE TOUGHEST PROJECTS
This might sound a bit ridiculous for some, but this is exactly what I did. I told myself if I were to be laid off, I wanted to have some of the best and most challenging projects on my resume because I understood all too well that the job market is very competitive.
5. TAKE ADVANTAGE OF ALL YOUR COMPANY BENEFITS
From gourmet dining to wellness offerings, offsite adventures, and the freedom to work from virtually anywhere in the world — make the most of every opportunity. Personally, one of my favorite benefits from Meta was the office meals. The food was so good that I eagerly showed up every single day.
6. LEARN NEW TOOLS OR ACQUIRE MORE TRANSFERABLE SKILLS
As the threat of layoffs looms, the inclination to invest extra hours in your current company might be the last thing on your mind. However, I urge you to embrace the role of a learner. If you have access to valuable tools (e.g. I used Tableau a lot in my last weeks and today I hold a BI management position) or substantial datasets that can help you develop in-demand skills, do it before it is too late.
7. REDUCE THE NUMBER OF MEETINGS
How many unnecessary meetings do you have on your calendar? We all have them. Trim them down! However, remember to keep nurturing relationships at work — they’re the most valuable assets you’ll take with you.
8. UPDATE YOUR RESUME
While it may seem like a given, I observed that many of my colleagues hadn’t revisited their resumes in years. Be proactive and have it ready before the news arrives. I’d suggest seeking input from two to three people. One person for grammar and syntax, another person with expertise in your field/industry, and a senior figure for added perspective.
9. UPDATE YOUR LINKEDIN AND MARK YOURSELF AS ‘Open to Work’
Utilize LinkedIn’s discreet job-seeking feature to signal your availability to recruiters without broadcasting it to your entire network. It’s a valuable tool, leverage it.
Time to spice up your networking game! Arrange some coffee or tea chats with folks you know who might have opportunities or can lend a hand in this process. And don’t forget, building connections is not only essential but also can be a lot of fun!
10. START APPLYING FOR JOBS AND TALKING TO RECRUITERS
Yes. That’s the reality and this is never fun. Start applying! Begin at a comfortable pace, perhaps 5–10 job applications a week but I would suggest starting it sooner rather than later. Keep in mind, companies can be slow, especially over the summer or holidays .
Always remind yourself: You are far greater than just a job title! Your career is just one facet of your incredible, multifaceted self!
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Daniela
