A few pink slips have already been handed out at your company and you”™re feeling your days may be numbered.
Sure, you”™re feeling anxious, frustrated, angry and confused, but if there is any time to remain composed, it”™s now. There is just too much at stake to not think about your immediate future while preparing for termination day.
After 18 years in the career world, placing thousands of qualified candidates in dream jobs, I”™ve been through several economic slumps. I”™ve seen the panic, the rejection, the fear. It”™s all understandable. I”™ve also seen many triumphs.
What I notice from this economic downturn is that despite all of the valuable career advice on the market, dispensed daily through news sources and various online vehicles, job seekers are still unsure of their very next step.
With this said, a career “birds and bees” talk is essential to those who fear a termination is near.
Your health
Peace of mind is the best way to start the job search.
Since you haven”™t been laid off, your health insurance is still effective. Go to the doctor for a physical and get documentation of your clean bill of health. You”™ll want to show companies that you are a good health-insurance risk when the time comes for you to purchase your own insurance. If you”™ve been putting off any other doctor visits, make your appointments today.
You”™ll also want to consult your employee handbook to determine how long your health insurance lasts one you”™ve been terminated.
Update your resume
Perhaps you”™ve been in your current position before the dawn of job search web sites like Monster and CareerBuilder and your resume looks like something from a time capsule. Web sites like The Ladders, which is mainly for executives, can help you craft a “winning resume.” Also, ask your friends (outside of work) to recommend a resume writer who will help you craft a professional resume that concentrates on key words and major accomplishments that add to the success and bottom line of your current position as well as those to come. You”™ll want to have several versions of this resume that will satisfy the various positions you are applying to.
Finally, look to incorporate anything in your cover letter or opening e-mail that brings solutions to any known problems about the company you are applying to. You must have a differentiating factor about yourself that gets you noticed.
Set up a LinkedIn page
If you Google your name, what comes up? If your answer is nothing, it”™s time to understand that the rules for job hunting have changed significantly since the last economic downturn. Without going too deep into the social networking arena for job seekers, first things first and that”™s setting up your LinkedIn page. Set up your free profile and complete it 100 percent. If you are having trouble, visit the LinkedIn Learning Center.
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Ask the right questions
The ax has fallen and you”™re sitting with your boss. If you are not too upset, take a deep breath and get ready to ask the next four questions.
What happens with my health insurance? If the answer is clearly stated in your employee handbook, simply confirm what you know and find out if your boss is willing to negotiate more time on the company health insurance.
Will I get a severance package? “If it”™s in your employee handbook, then you”™ll get your severance,” says Greg Chartier, principal of the Office of Gregory J. Chartier, a human resources consultancy. “Two things come into play when an employer thinks about severance: How long you”™ve been with the company and how important your job is. If your employer needs your cooperation for the next few weeks, they are going to pay you something. This opens the door for negotiation.”
Chartier adds that standard packages for bigger companies include one week severance for every full year of employment, but legally a company owes nothing unless contractually obligated or clearly stipulated in the employee handbook.
Will I be paid for unused vacation time, personal and sick days? Have an idea beforehand of how much time you have accrued, but understand that there are no laws that mandate a company pay for this unless the rules are set.
Will I receive my bonus? Again, check the rules. “If there are no rules, then forget about it,” says Chartier. “It”™s purely subjective. If you are under contract then it should clearly stipulate the criteria your bonus is based on.”
Rich Greenwald is a careers and staffing consultant. He is the owner of The Concorde Group, a 25-year-old, staffing solutions agency in White Plains, N.Y. Have a careers question? Contact rgreenwald@concordepersonnel.com.
