How To Survive A Layoff Or Downsizing

Layoffs used to be temporary in nature. This meaning has changed now because, for a long time, this term has been used for referring to the permanent elimination of employees as a part of the cost-cutting measure. One of the most difficult situations in an employee’s life is when the main source of income comes to a full stop.

However, it is essential for you to keep cool and create strategies to overcome it.

Here are some tips that can be incorporated in order to survive a layoff or downsizing:

o Define your network: The first step towards surviving a layoff is to define a network of friends, co-employees, and professional associations that may be of some help.

o Approach the HR department: You may ask your former HR department to help you get a job. The HR department is one of the powerful departments in an organization and has a lot of contacts.

o Update your resume: The resume is one of the most essential marketing tools while searching for a job. Make sure that your resume is clear and concise and is written specifically. It serves as one of the best ways to market your talents. With this fact in mind, make sure that your resume is written according to the company’s requirements. Try to present a brief overview of your qualifications to the interviewer.

o Scan classifieds for potential employers: Scanning for potential employers is important as it will give you an idea about which companies require employees with the kinds of skills that you possess. The main idea behind scanning through the classifieds is to check for those companies that are well-established and are not facing any losses.

o Reorganize your finances: Make sure you organize your finances as soon as you have been laid off. Try to save more money than ever before and sell things that you are likely not to use in the near future.

o Contact the unemployment office in your state: As soon as possible, contact your state unemployment office, as it helps in getting the waiting period out of the way.

o Submit your updated resumes to different job portals: In order to get a job faster, submit your resume to as many online job portals as possible. Highlight your skills and qualifications and approach a number of employers simultaneously. Be sure to use cover letters that are specialized for each company and job opening.

o Contact references: You may also contact references and let them know that you are back in the market. They may be able to help.

o Request a recommendation letter: Recommendation letters help people get better opportunities in life. In order to get a good job, you may ask your former employers to draft a recommendation letter for you and if it is convenient and not too busy, mention what has happened to your previous employer.

o Practice mock interviews: To present yourself in a better way, you should practice mock interviews so that you can confidently deal with the interviewer.

Losing a job is never easy; the tips above can make it easier to make your way through.

Survive the Recession – Business Ideas and Recession-Proof Tips For the Small Business Owner

You can thrive in a slow economy! Ask leaders and consultants about recession-proof businesses and you get examples that go far beyond the inevitable death and taxes-related occupations.

But most are also quick to point out that any business can be vulnerable to an economic downturn and any business can take steps to protect itself from a financial roller-coaster ride. “To protect against a recession, a business needs an inventive, flexible team that learns together, practices competitive intelligence together and collaborates together.” said industry consultant and analyst Steve Koss, who specializes in the business of large stadiums and other sports and entertainment venues.

But what do you do to protect your bottom line if you don’t have a naturally recession-resistant business? Besides focusing on your current marketing niche, you may follow the trend of many small business owners by diversifying where your income is coming from. Use your downtime to build a ‘business within the business’. Offering a new service that can be handled online, such as Internet Marketing, can make the best use of your time and build an income that has proved more stable during a recession.

Tom Mulhall, who was an accountant in Chicago for 15 years before opening a small luxury guest resort nine years ago in Palm Springs, says some of the same tricks that inoculate a business like his from economic downturns can help any business. When asked how to recession-proof a Chicago-area business, Mulhall said: “If you are in retail, diversify. If you’re in the suburbs, promote ways to encourage Chicago business, and vice versa. If you are a brick and mortar business, develop an on-line business.” Denise O’Berry gives four general guidelines to help any business keep going and growing even in hard times. “Focus on customer loyalty and retention, minimize debt, involve employees and be visible to your customers, your employees and your community,” said O’Berry, president of The Small Business Edge Corp. in Tampa, Fla. “Success in business is a lot about who knows you and what your company does. Make sure your marketing and public relations is done consistently; don’t just market when business is slow.”

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