CHRISTINE LIU: Losing your job, there's no other way
to put this, it's scary.
I know this from personal experience.
And right now, it's a fear and a reality for so many people.
Today, I'm talking about layoffs and how you can
prepare if it happens to you.
So when I say layoff, I mean when
your job is eliminated because of a business
decision or a restructuring.
And it should have nothing to do with your job performance.
I can tell you, I remember distinctly the moment
that I got laid off from what was my dream job, and it hurt.
It was such a shock to the system,
you know, emotionally, physically.
I was pretty, you know, wrecked.
I always wondered, what could I have
done to prepare for being unemployed?
What does a layoff toolkit look like,
and how can you put yourself in a best position just in case
this thing happens to you?
I want to talk to someone who can answer my question.
Maybe someone who has gone through a layoff personally
or someone who's helped a lot of people
go through this transition.
I want someone who can give me the answers I need.
[MUSIC PLAYING]
SUSAN PEPPERCORN: When I got laid off, I didn't have a clue.
I was just in shock and I was devastated.
I knew that it was coming, but I did not
take any steps to prepare for it, which actually
is why I do what I do now.
CHRISTINE LIU: That's Susan Peppercorn.
She's an executive career transition coach
and she works with people who are
undergoing professional change.
SUSAN PEPPERCORN: The reality is that being
loyal to an organization and having an organization be loyal
to you doesn't really exist anymore.
CHRISTINE LIU: I know it's kind of bleak
when you think about it.
Companies aren't responsible for shepherding us
through every stage of our life.
SUSAN PEPPERCORN: And so people have to think about,
how do I manage my own career?
Because really, you are in charge.
CHRISTINE LIU: So tell me more about managing your career,
starting early, starting now.
What are the biggest steps?
SUSAN PEPPERCORN: Weekly, just keep
track of your accomplishments.
You're going to have a list that you
can use to update your LinkedIn, to update your resume,
to talk about on an interview, and you
won't have to go through that painful process
of reconstructing that over a period of years.
Another one is to keep your network fresh.
CHRISTINE LIU: What does that really mean, like "network?"
All right.
It's not as bad as it sounds.
Trust me.
It is simply building relationships
with people outside the confines of your job.
That's it.
You want to build a really strong network,
but especially before you actually need it.
And that takes time.
You want to nurture and grow your network
early and often so they'll be there
for you when you need them.
SUSAN PEPPERCORN: Most people, in excess of 70%,
find their next job, and a job that they really want,
through their network.
Another one is, if you do get laid off, and a lot of people
don't realize this, the day you're notified
may actually be your last day.
If that happens, your computer, unfortunately,
is taken away from you, along with your documents
and your contacts.
CHRISTINE LIU: You want to backup anything
you think you might need in the future, primarily,
this means email addresses and phone numbers you want to keep.
SUSAN PEPPERCORN: Do a financial wellness check.
It's good to take stock of your finances.
Where are they?
How much do you have?
Also, if you get laid off, you have
to know how your health insurance is
going to get paid for.
CHRISTINE LIU: A good rule of thumb
is six months saved up of living expenses.
If you're worried about the job market,
Susan said that recruiters are more gracious and understanding
looking at people's lapses in their careers,
especially due to the pandemic.
SUSAN PEPPERCORN: Don't panic if you don't find a job right
away, because recruiters and hiring managers,
they understand the impact of the economy.
CHRISTINE LIU: I love Susan's tips
and I can't wait to put them into practice.
So it's Friday.
I'm going to look through my week
and write down some accomplishments.
It's like I felt this week, you know,
I stayed relatively on task.
I felt pretty good mentally and physically and personally.
So I'm going to chalk that up as a win.
This is what remote networking looks like.
That's me on LinkedIn.
I have a hard drive.
It's kind of old, but it will get the job done.
And I figured out my financial wellness.
Forgive the visual, but I'm not showing you my bank statements.
OK.
Now I feel prepared.
Susan's tip's, though, were just the start.
I laid down the groundwork for something
that I'm going to be doing for the long term.
Building a network and maintaining it,
that takes time.
And keeping track of your accomplishments,
well, that has to be ongoing and routine.
Being prepared for anything that comes your way,
that is just simply good career management.
I hope these tips help.
And we're all in this together.
If you're still watching, one, thank you.
But two, I'm really curious, like
what do you want me to explore?
Like what problems do you have at work?
I love to solve them.
Please leave a comment.
I'd love to hear your thoughts.
And if you have any other ideas, throw them my way.
All right.
Peace out.