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Wednesday, November 12, 2008
7 Rules to Follow If You're Laid Off
By Joanna Ossinger
FOXBusiness
Practically every day, there's more news about layoffs. It's 500 here, 10,000 there -- adding up fast -- and every one of those is a real-live person whose life is probably deeply affected.
Hopefully you won’t become one of those statistics, but if it happens to you, keeping a few simple rules in mind can help.
1) Stay calm.
When you get your layoff notice, no matter whether it's expected or not, or how it's done, remain calm. Don't get riled up, and think before you say or do anything. If you're agitated or upset, you may do something unadvisable.
"You've been laid off -- it's not a happy moment," said Peter Post, director of the Emily Post Institute and author of Etiquette: Advantage in Business. "At the same time, recognize that your boss, your company and the people you work with are people you might encounter again… If you can keep your emotions in check, that's probably a good thing."
"You always want to leave in a professional way," said Barbara Barra, vice president at management consulting firm Lee Hecht Harrison. "That company will be part of your referencing whether you want it to be or not."
2) Use your ex-employer as much as you can.
The company that laid you off is likely going to offer something in terms of severance, and perhaps other benefits such as retraining, an employee assistance program and more. Take advantage of -- or at least leave the option open to use -- everything that you can. Your situation could be in flux for some time, and it never hurts to have as many resources as possible at your disposal.
"It's so tempting to walk out and be frustrated, but before you walk out, make sure you have everyone's contact information and recommendations," said Irene Koehler, a human resources consultant and Almostsavvy.com blogger.
Barra suggested that people talk to the company about "what will be communicated internally and externally about your departure." She gave the example that if someone is forced into retirement but wants to look for a new job, it might not be best for that person to have to say he's retired as he looks for a new job. "There's more flexibility around that than people would think," she said.
3) Get professional advice and/or ask for more, if warranted.
If you're being asked to sign a severance agreement, you may want to have an expert look it over before you put your name to it.
"Nobody should go this alone," said Murray Schwartz, senior partner at employment law firm Schwartz & Perry. A severance agreement "is usually prepared by an attorney and the human resources department is involved, and the employee should not be there alone."
"Sometimes there is room to negotiate the severance package," Barra said. "That's typically not the case with mass layoffs because consistency is the norm, but especially if you're one or two people, it never hurts to go back and see if there's the chance of getting a little more." She recommended considering going to an attorney when a company asks you to sign a release saying the agreement is "fair and reasonable."
4) Take this opportunity to reassess your career path.
Being out of work is almost never a good thing, but it can offer a chance for you to take a step back and see whether you want to try something different, such as a new type of job or a new sector. You might have the opportunity to use your skills for something different, or use skills you hadn’t really thought about using before.
Also, don’t hesitate to try some volunteer work, which can keep you active, keep your skills fresh and give you some new contacts.
"Take the time to understand what your next best options are," Barra said. "Look at what options are out there and what you can do for another organization."
5) Look at your financial situation.
A layoff almost always is followed by a big change in income and financial situation, so get on top of that as soon as possible.
Figure out what's coming to you in terms of residual payments and severance, look at your savings, and calculate how much time you have before you really need a job. That might also affect your job search in terms of what type of job you'll take – if you have a big financial cushion, you might be able to afford to wait a little longer to get the "right" next job, whereas if you don't have much savings, you might need to be less picky.
Don't forget to sign up for COBRA if needed. That's the Consolidated Omnibus Budget Reconciliation Act, which guarantees under certain situations that you can get a temporary continuation of health care at group rates (but since employers usually subsidize health-insurance costs, it'll probably still be a big bump in premiums).
6) Contact your contacts.
Many people hesitate to reach out to their friends, family members and associates, fearing that people will see this as an imposition. Don’t hesitate. People want to help you -- wouldn’t you do the same for people you know?
Reach out through your personal contacts, and use Internet sites like LinkedIn and Facebook. Social networking has gotten much more powerful in recent years, and it can only be helpful.
"Use your network wisely," Barra said. "There are people we can go to a million times, and there are others we can approach only once," so she advises being strategic about how you approach people.
7) Remain active and reach out to others.
It may be hard to stay in the swing of things without a regular work schedule -- and the job search can be discouraging, particularly if it continues for a number of weeks or months.
For your own good, try to stick to a regular routine, remain active, keep looking for a job and maintain your friendships. It’ll help you feel better.
Besides, being around people who care about you -- and continuing to have fun -- will help provide a little balance in your life as you decide what’s next career-wise.






