According to the U.S. Department of Labor, the American economy added 303,000 jobs in March. Just one day before the U.S. DoL report, Bloomberg reported that U.S. unemployment applications increased 221,000. While the latter is certainly good news, this does nothing for the people who’ve been laid off. And, from what I’ve heard from a few people, their employers are doing several rounds of layoffs so, for some, more to come.

Over the years, I’ve heard terrible stories from coaching clients about the shock and awe that hit them and their work colleagues because they were given their layoff notice, but had no idea it was coming. Some of you reading this might say, “Sure they didn’t know. They saw the signs, just ignored them.” While in some instances, this is probably true, there are plenty of others where this isn’t the case. I’ve been laid off and saw the signs, and I’ve been laid off and didn’t see it coming (well, at least not at that moment!), so I know both are possible.

However, if you know or suspect your employer might give you your ‘pink slip’ in the not too distant future, there are definitely some things you should do to prepare.

1. Save money. Unless you have a new job lined up already, now is the time to start cutting back. Unfortunately, for most American households, savings is limited….and that’s when you have income coming in. If your income stops for a period of time, it can post big challenges for your household. Now is the time to begin cutting back on your spending and setting money aside. The goal is to have at least six months of emergency money set aside. If you don’t have that, now is the time to get busy!
2. Network. Whether you have a good network or not, now is the time to blow the dust off of your (proverbial) Rolodex and begin reaching out. You don’t necessarily need anything at this moment, but you can certainly let your friends, former colleagues, and professional network how things are going. Remember, the best time to network is when you don’t need it. Use this time to rekindle past professional relationships with no strings attached so if you need to reach out in the future, there’s no dust to remove first.
3. Update your resume. If you don’t know how to revise or write an effective resume, you will most likely have to pay for someone to help you. Why not do that now while you still have income coming in? And, why not do it now so you can begin using it in your networking and job search? If you wait until you’ve actually been laid off to start the process, you will now have to wait weeks in order to begin your search. Why wait weeks when you don’t have to?

Let’s face it – getting laid off stinks! But, for many, it’s inevitable. By taking advantage of the time you have and begin proactive with your efforts, you can cut your layoff time down tremendously and make it a much better process for you.

Until next time….