Do This Before You Get Laid-Off

10.10.2009 20:53

The economy is getting better, right? Or maybe, not so much. If you think you might be laid-off or down-sized or if you've just received the bad news, here are some tips to make life less stressful and your transition easier. 

Save your cash! OK, this might seem obvious if you've just lost your job, but if you are worried about the possibility of being downsized, start now to conserve your cash. It's not really fun to cut back but it will diminish the stress. Some obvious places to cut back include:

Eating out. Try cooking at home. There are millions of recipes on-line that you can try. You can also check out cookbooks from the library. Learning new techniques and recipes will make cutting back seem like fun.

Non-essential "toys." I know, you really want the latest iPhone, but it really is better to wait until you are secure. Trust me on this one!

Car expenses - don't buy a new one and consider trading your current vehicle for a less expensive model. Whatever you do, don't buy a brand new vehicle. This is not the time to take a hit in depreciation.

Clothing expenditures - Only buy must-have items. Keep your business wardrobe up-to-date and buy staple pieces of good quality. You can update your wardrobe to stay current with less expensive trendy items.Compile and save samples of your work. If you're looking for a new position, it's extremely valuable to have samples of your work to submit with applications or at interviews. Retain copies of presentations, documents, and spreadsheets that you authored. Keep in mind, you may need to make your work samples generic so you're not compromising confidentiality expectations of your previous employer. Also save copies of your job descriptions, work expectations and performance appraisals. These documents will be valuable when it's time to update your resume. Employers will be looking for concrete examples of your contributions. Having these facts and figures available will increase your marketability if the need arises.

Update your resume even if you're still employed. There's a wealth of information on-line that can help you develop a resume that sells your experience and expertise. Don't wait until you are unemployed to get current!

Line up your references. You need a list of 3 - 5 professional references to present when you apply or interview for a new job. Don't add relatives or friends to this list. Stick to people who can comment on your professional performance and standards. Make certain you ask each reference before you include his or her name on your list. It's good practice to include a phone number and email address for each contact.

Be aware of your on-line presence. Create and update profiles on LinkedIn, Plaxo and other networking sites. Pay attention to key words in your profile and make sure your posts are professional and appropriate. If you have profiles on social networking sites, remember that nothing is totally private on-line. Make sure your privacy settings are adequate to protect your profile and postings from unwanted scrutiny.

Here's a tip you might not believe! If there's any way possible for you, don't completely cut these budget items:Health and dental care. It's not the time for elective plastic surgery, but do stay current on basic health and dental care. You won't be able to find that new job or career if you are sick.

Networking expenses. Yup, you can and should go to lunch or other events with friends and other contacts. The best way to find your next job is to be well connected with others in your field. Maybe you could substitute coffee dates for lunch dates to save money, but make sure you stay in touch!It's a stressful time for everyone struggling with the current recession, but if you plan ahead you can worry less and accomplish more. Don't wait for the bad news; it's never too late to be prepared.

With over 25 years of Fortune 500 corporate financial and management experience, I've launched into fundraising. I help groups or individuals raise funds for their causes. check out my web site for more information.

I'm also full of advice for those working their way through this nasty recession! Feel free to contact me via my web site.

All the Best! Laurie Dunnavant http://www.FundraisingUtah.com

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