Reports of companies laying-off employees are increasing. Here we discuss how you can protect yourself from losing your job.
Are you stressed about losing your job? Do you feel like you have no backup plan? Are you worried you won’t be able to survive if you get laid-off?
You aren’t alone.
According to a recent LinkedIn poll, over 60% of the respondents are worried about getting laid off. Just in the last two months companies like Tesla, Netflix, and Twitter have made the news by laying off a large amount of their employees. This has created some panic. If these industry giants are making cuts, what does this mean for smaller companies?
To add insult to injury, the current economic climate doesn’t make the idea of losing your job any easier. It’s one thing to get laid off when there is an atmosphere of economic stability. But when the whole country is feeling the pressure of economic uncertainty, how do you navigate ensuring you are financially secure?
In his career, Ron Macklin survived nine rounds of lay-offs. And he took note of what enabled him (and his co-workers) to remain employed each time. Although the workshop he developed isn’t just about keeping your job, it does allow you to discover the skills you need to prevent getting laid-off.
Here, we’ll discuss what Ron noticed about making yourself lay-off proof, so you can feel more secure in this ever-changing marketplace.
If you want to protect yourself from getting laid-off, it is essential that you have backup opportunities, take risks at work, and establish a network within your company. Reports about companies initiating lay-offs have been. By taking these steps you can protect yourself from losing your job and experience more peace of mind.
Ron suggests always having two to three opportunities lined up in the event you are let go or become unsatisfied with your job. This doesn’t mean that you have several employment contracts in your back pocket. Instead, create a network of support with people outside of your company. Your connections are everything when it comes to getting another job - whether you are laid off or just want to move on in your career.
You want to be in a position where you have multiple people who recognize your strengths and want you on their team. You know at any time, you can leave your job and have another one waiting for you.
You can also create your own opportunities for yourself. Invest time in what you love and see if there are business opportunities you can pursue. For example, if you love baking, start offering your treats to family members and friends. Let them know that you’d love to cater their next party. Later down the line, you might want to turn this passion into a full-fledged business, and you’ll have built up a following to support you.
If there isn’t a “side hustle” out there that feels like it's calling you, start to research other investment opportunities that can give you a safe place to land if you lose your job. While more traditional investment options are standards for a reason, there is a lot of room to be creative in your investments these days. Maybe you and some friends go in on a vacation rental property. This can provide residual income AND give you a safety net if you get laid-off.
Having backups gives you a new path in case you lose your job, AND it also changes your mindset. When you know you will be taken care off even if you get laid off, you feel more confident. You create space for yourself to be bold. You don’t walk around in fear. And this is incredibly appealing to employers. The person who walks around timid and scared will likely get cut. People can tell when you are acting from fear, and it also shows up in what you produce at work as well.
By knowing you have other opportunities, you become more willing to take initiative at work, because you don’t feel as threatened about losing your job. And that leads to the next suggestion:
The people who survive lay-offs are the ones who are willing to take action. They don’t wait to be asked to contribute. They take risks. Their names are known throughout the company because they actually try things out and don’t play small.
By making bold moves at work, you establish yourself as a key contributor and creative thinker. When it comes time to decide who might lose their job, you’ll stand out as someone who is not afraid to be a driving force and try new things. This is valuable to companies. You’ll be seen as an asset.
“It’s not what you know, it’s who you know,” is not just an empty phrase. When it comes time for lay-offs, your connections can save your career. If you regularly collaborate with other team members and are seen as a source of help, people will go to bat for you.
By helping others, you establish yourself as someone others want to work with. When there are talks of lay-offs, you will be seen as indispensable. Your co-workers will advocate for you, and insist you be kept on board.
If you are worried about getting laid-off, you can take actions to reassure yourself that you will be ok. This will also help improve your work experience if you feel stuck at work or constantly worry that you aren’t doing enough to be noticed.
Even though we are experiencing an uneasy economic climate, there are ways you can make yourself stand out at work and prevent getting laid-off.
Having back-up opportunities readily available will give you a sense of peace and security that allows you to be bolder at work. By taking risks on the job, you can stand out to your employer as someone who readily contributes to the company. And when you make an effort to collaborate with and help your co-workers you create a team of advocates who will vouch for you if lay-offs are on the line.
As you begin to take these steps, you might find that your stress about losing your job is no longer constantly present. You can contribute in a more meaningful way at work because you are spending less time and energy being scared and worried that you’re next to go.
In our workshops, we create a space for you to develop a “lay-off proof mindset.” You do not have to figure this all out on your own. We’re here to help. Join us in one of our upcoming workshops or connect with us to learn more about how The Macklin Method Workshop can create a “lay-off proof” mentality for you.
You can also check out these articles, which explain more about our workshops and The Macklin Method: