7 things to do when layoff rumours make the rounds in your office

(Source: timesjobs)

Turbulent business scenario often force organisations to take harsh measures to cut down costs. The first, and the easiest one, to consider is to cut down on the staff costs.

In a scenario where global happenings impact local economics, it’s not unusual to see or hear stories of layoffs. Just today, Deutsche Bank informed hundreds of staff globally that their positions were being cut. Earlier this week Samsung restructured their business in India and let go off about 1,000 employees.

While the business scenarios can’t change but an employee’s way of dealing with such situations can certainly change. Here are 7 things to do if there is layoff talk happening in your office:
 


1. Keep your resume up to date

This practice will help ease out the stress that an employee may feel due if ever the lay-off happens. Also, it’s better to keep looking for opportunities and be prepared rather than worrying about losing your current job.

2. Strengthen your network

Along with keeping your resume up to date, it is also necessary to keep building your network. Considering the volatility of present work-environment, maintaining your network and contacts will help to be prepared for the worst.
 


 

3. Focus on your daily tasks

IAt is not easy to keep focus when your workplace feels volatile, but during such situations it is more important to get things done and be as productive as possible.

4. Volunteer to do more work

The downside of a workplace going through lay off is that more work will be dumped on the existing employees. In such a situation, it would be highly beneficial if you volunteer to take on more work.

5. Boost your income/savings

One of the most important things to do during such a situation at the workplace is to find ways to boost your income or savings. One should look for part time jobs or put aside a substantial part of salary as savings to minimise the pressure if laid off.
 


 

6. Go through your paperwork

Another important thing to do is go through the paper-work and contracts that you may have signed when you were hired. This will help to make sure if you are entitled to any benefits accumulated, unused vacation days, money owed etc.

7. Get details on your severance package

Big employers usually have a severance package that laid-off employees are entitled to. Knowing these details and negotiating for maximum benefits can put one in an advantageous position even after being laid-off.

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