From the category archives:

Jobs & Career

Planning for Unemployment While You Are Employed

by The Queen on June 29, 2009

in Jobs & Career

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Unemployment

With the recession still in effect, perhaps no statistic is as closely watched as unemployment. It seems everyone has a friend or family member who has been laid off and can’t find work. So while you are happy you have a job and prefer not to think about the dreadful idea of being unemployed, this is precisely the time to think about it.

To survive unemployment with your sanity and finances in tact you have to be proactive. Here are some tips for being proactive and preparing for unemployment while you are still employed.

  1. Keep your resume in tip top shape – The best time to update your resume is while you are actually working and your skills and projects are fresh in your mind. You should be ready to send out your resume at a moment’s notice. Also, with the economy being where it is, you will need to be flexible. So it’s best to have several different versions of your resume. Each highlighting a different skill set or industry.
  2. Network on a sunny day – You should be actively networking when you have a job, not when you need a job. It’s estimated nearly 80% of jobs are found through networking, so you can’t afford not to network. It amazes me how some people suddenly begin networking when they lose their job. Think about it, who would you recommend for a job, someone who you have seen on a monthly basis and have come to know or someone who just shook your hand for the first time? In most major cities, you can go to a different networking event for breakfast, lunch and dinner every day. Just do an online search for your industry or career and you will find multiple options.
  3. Save for a rainy day – While you still have a job, start spending like you don’t and save, save, save. You should have at least six months worth of expenses saved. And if you are over 45, you need more like nine months. It takes older workers more time to find a job and many times it at a lower salary.
  4. Learn about benefits – Find out which benefits you can take with you before you are shown the door. Many benefits aren’t portable, for example life insurance and disability insurance. How much of your retirement account can you take? Most company retirement accounts have a vesting schedule, so you might not get as much money as you thought if you leave early. And most importantly, try not to cash out any retirement benefits. Instead roll them over to an IRA. Last but not least, ask about COBRA which is employer sponsored health insurance while you’re unemployed. Many laid off workers are learning they don’t get COBRA benefits since they worked for a small business with fewer than 20 full time employees.
  5. Separate your life – Many employees use their work email for everything ranging from work projects to personal matters and family issues. You should setup a separate email account for your personal matters and let all your friends and family know. Along the same lines, do not keep personal files and information on your work computer. If you must work on personal files on your work computer, save them onto a memory stick and not on the hard drive. If you are laid off, you might not be given time to retrieve or delete anything from your computer.

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Finding a Job – the Proactive Way

by The Queen on July 30, 2008

in Advice & Tips, Jobs & Career

A friend of mine recently told me she was laid off. She seemed surprised but I wasn’t. Not that she was a bad employee, but because she worked for a home products company. With the dramatic drop in home sales and the shrinking of the credit markets providing home equity loans, it was just a matter of time before companies selling home products and services would see a drop in their business as well.My Office by habitatgirlI had nudged her to look for a new job last year when the economy and especially the job market were still in good shape. Instead she chose to take a wait and see approach.

You can take a wait and see approach with your weekend dinner plans, but you can’t take a wait and see approach with your job. You have to be constantly looking. Even if you are not looking for another job, you need to be looking at your current job. How is your industry? Is it growing or shrinking? If you aren’t sure, then you probably can’t be sure of having a job.

It’s not just your job performance that matters. The performance of your department, company and industry can all influence your job, so it literally pays to pay attention to any changes. In my friend’s case, if she had been paying attention to the trouble in her industry or even her company she could have seen the signs that her job was in trouble.

It’s always easier and wiser to look for a job when you still have a job. Here’s a few reasons why:

  1. 1. You are more likely to find a better job. When you are employed you have a clearer perspective and can evaluate potential offers based on their merits not on when you get your first paycheck.
  2. 2. You are less likely to make any rash decisions simply because your rent is due and you need a job.
  3. 3. You will be more successful at interviews. You can concentrate on explaining your skills and experience instead of explaining why you are currently unemployed. Not to mention how much more confident you will portray yourself.
  4. 4. Most importantly, you will be more successful at negotiating your job offer since your future employer knows you don’t need  the job.

I know sometimes being laid off can be a total surprise, but generally there are signs. You just have to look for them.

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