My Career Voyage! Charting The Course

By Patty Edwards Shaver
MCV Career Development Facilitator

Here's what you can do to prepare for a layoff:

If you know you would want to make a career change, prepare for it ahead of time.
Start by assessing your interests, skills, abilities, personality, and values (CareerPlanning: self-assessments).
Then explore other occupations that match up to your assessment results (Career Planning: Career Exploration).

Create a career portfolio: Gather all career related information that pertains to you and organize it in a 2" binder. Collect work samples, facts and figures, letters of appreciation or recommendation, certificates and awards.

Update your resume (Job Search: resume).

Build your network: collect all contact information and store it at home. Join professional groups or associations (Job Search: Networking).

Keep your ears and eyes open for signs of pending layoff: budget cuts, travel and hiring freezes, upper management firings, unfamiliar people being escorted throughout the office, check with ESC for bankruptcy and layoff notices.

Watch for signs that your company is experiencing financial troubles: watch the news for stories pertaining to your industry and company; financial news, stocks, SEC investigations and improper behavior by managerment, company quarterly and annual reports (EDGAR).

Your workload becomes unusually light.

Be prepared for severance package negotiations: favorable recommendation, life insurance, COBRA, vacation, holiday and sick pay, non-compete agreements, and outplacement services.