Thread regarding ExxonMobil Corp. layoffs

How to prepare for a layoff: Ask HR

Johnny C. Taylor Jr. tackles your human resources questions as part of a series for USA TODAY. Taylor is president and CEO of the Society for Human Resource Management, the world's largest HR professional society and author of "Reset: A Leader’s Guide to Work in an Age of Upheaval.”

The questions are submitted by readers, and Taylor's answers below have been edited for length and clarity.

Question: For the first time in my career, I'm really concerned about job security as we approach a recession. As companies are laying off thousands of employees, what can I do to prepare for a potential layoff? – Fahad

Answer You aren't alone. Many workers share your concerns about job security and the impending recession. Ultimately, you aren't in control of your employer's decisions. However, you can control how well you perform in the interim, how prepared you are in case of a layoff, and how to respond in the event of a layoff. Putting in motion the following steps will give you options for safeguarding your career:

1. Begin tightening your spending to save more if you are out of work. While you might save money on transportation costs by not traveling back and forth to work, continuing health insurance, for example, can be very costly when your employment ends. Start trimming the fat now by packing lunch, passing on Starbucks, and limiting excess spending.

2. Edit and update your resume. Use action words to describe your accomplishments. You may need to brush up on your resume writing and interviewing skills. There are many resources online to help you in this area. LinkedIn may be a useful resource for free professional development opportunities. Be sure to quantify the value you bring to your current employer and previous jobs too. If you have saved the company money or time due to the implementation of your idea, plan, or process, include that on your resume.

3. Don't wait to be laid off; begin your job search immediately. This can help you to identify job opportunities. You can also utilize your professional network and job boards and reach out to your friends, family, and social organizations to seek job opportunities. Try volunteering to gain exposure and possible consideration for a job opportunity.

4. If you elect to continue your health benefits after a layoff, the Consolidated Omnibus Budget Reconciliation Act, or COBRA, allows you to continue your health benefits for up to 18 months for a layoff. You may be required to pay 102% of the cost.

5. If you are laid off, consider negotiating a severance agreement to provide income beyond your last work day. Some employers offer a standard severance, but you can potentially negotiate more.

6. You may also want to review the requirements to apply for unemployment in your state should you be laid off.

Lastly, try not to let your concerns about a potential layoff negatively impact your mental well-being. If you find that it does, do not be afraid to seek support through your employee assistance program or mental health insurance benefits.

Professional mental health support may help you to remain calm, plan, and strategize for change.

| 1060 views | | 2 replies (last )
Post ID: @OP+1mTrNtGa

2 replies (most recent on top)

Studies have shown that the best way to prepare is by buying a large case of KYJ and get ready for the royal skrewing you are going to not enjoy!

Post ID: @6luh+1mTrNtGa

We don't need - and we don't have - no stinking lay-offs.
EM has brute force expulsion.
catch up, OP.

Post ID: @jie+1mTrNtGa

Post a reply