Tuesday, November 11, 2008

7 secrets for surviving a layoff in a down economy

Read this article quite meaningful http://www.cw.com.hk/article.php?type=article&id_article=2638, so if you are really unlucky one being layoff, this may help you.

1. Negotiate for the best possible severance package.

Don't think that you have to accept whatever severance package your manager or HR puts in front of you as is. Your severance package is negotiable, he says, so don't feel pressured to immediately sign on the dotted line. Take the time to read the severance package, even if it's 20 pages long. If your employer gives you a hard time, Bayer says to hold your ground and tell the manager that it's not reasonable for the employer to ask you to sign something without first reading it.

2. Don't second-guess yourself.

After you've been laid off, you feel vulnerable. When you feel vulnerable, it's easy to second-guess yourself and to sink into depression. What's difficult is resisting those negative thoughts. But for your own well-being and the success of your job search, you have to. Instead of dwelling on all the reasons why your employer might have selected you for a pink slip, Bayer says to remember that the fundamental reason you lost your job was because your employer was having trouble competing during this economic downturn, not because you're a bad worker.

3. Examine your finances.

Take a close look at your expenses and your savings to determine how much money you'll need to cover your expenses during the time you're unemployed.

4. Make job-hunting your new job.

5. Expand your search.

Making a long list of industries and organizations in those industries where you could put your skills and experience to use.

6. Approach online applications and search firms with caution.

7. Stop reading about the economy.


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