The last time I was unemployed for longer than two weeks was 1986. I had graduated with my degree in Management from Eastern Michigan University and was attempting to find a job in West Virginia, of all places. I didn't know very much about the state – I was newly married and had moved there with my husband in August, '85. I finished my degree in December and started looking for something in Personnel (these days known as Human Resources).
Anyway, here it is – two weeks after November 14, 2008 – my layoff date. What have I learned?
- Research completely everything that your company owes you and get a contact for any questions you may have.
- The company that laid me off had an amazing severance package – 2 weeks of pay for every year of service + a guaranteed number of weeks depending on whether you were salaried, hourly, an officer, etc. Therefore, when I reviewed my package I knew I was owed 48 weeks of salary & benefits. Check your company's employee handbook.
- My first severance paycheck didn't show deductions for the supplemental life insurance I purchased for myself or my son, although it did show the deduction for my husband's policy. I immediately sent an email to my contact to see why the deduction wasn't taken. The last thing I want to be surprised with is a big deduction because of a mistake along the way.
- Know what you owe. Any 401(k) loans you may have taken usually have to be repaid within a certain timeframe. I have to pay this back, but it's not a surprise – and I can budget for it.
- Get your contacts in order. In this case, I'm talking about the people that can help you. You want their "home" email address and their "personal" phone numbers. Make sure they have YOUR personal contact information so that they know how to reach you when they're looking for someone to fill that position for which you are perfect. The last thing you want is for someone to say, "I know the exact person for this 6-figure-salary job!", but alas and alack, they don't know how to reach you!
- Think about the calendar. Cycles exist in business. It's a fact of life. Between November 15 and January 15, people are on vacation. People who hire people are on vacation. Budgets are stretched to breaking or (even worse) frozen. It's an unfair cycle – when the unemployed need money the most – the employers are not hiring. One of the "benefits" of being laid off is that I get 3 months of outplacement services. I have 60 days to sign up. If I sign up immediately, I get benefits until February 15th. Unfortunately, Thanksgiving and Christmas fall in that timeframe. If I wait until January 7th (the last day I can attend orientation) to sign up, I get benefits until April 7th. Maximizing the potential of the professional services available to help me find a job.
- If you can afford to sit back and enjoy a little time to relax and reflect on what you've accomplished, please, DO SO. It will make your resume more complete and marketable. You're an awesome employee – but sometimes, the sheer panic of being laid off can make you forget or overlook the things that you did to make your company successful. Take a deep breath. Think of everything that you've done and make sure you use the right words to tell prospective employers. You "lead". You "created". You "drove".
- Have trusted friends read your resume. One manager of mine – who is now a chief technology officer – reviewed my resume and told me, "You were an executive or a leader. Not a manager. I mean it when I say this. Managers see tactical solutions. Leaders and Executives see strategic solutions." The words of someone who saw me grow from a programmer to an Executive hit home – and I changed my resume to make sure I get the job I WANT.
Being unemployed is no fun in these economic conditions. But getting prepared before you begin your job search can make you feel stronger and more confident during the transition. Know your strengths.
Ree’s personal blog is My Life as a Hotfessional – if you’d like to hear about the rest of the craziness in her life, please stop by for a visit.
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Excellent post – thank you very much.
From a working mom who is about to be laid off,
Liza
Thanks Liza. I'm sorry that you're losing your job, too. It's way too common these days – and it sucks eggs. Especially during the holidays. All of the best to you.