Fearing a Layoff? – Be Prepared

We have already been warned by leading economists – and by our own common sense –

and even by his business guru Elon Musk, that President-elect Trump’s economic plans

are going to lead to “hardships” early on.

Despite the surge in the post-election day stock market, and the likely holiday season

uptick in new professional hiring (more on that in our next newsletter), some firms may

start cutting back when prices start rising and the economy starts flagging in early-mid

2025.

To get ready for a possible job loss, there are 6 Quick Steps you can take to either avoid

the axe or have it hurt less when it falls on you. By the way, these are smart moves to be

making anytime to build a successful career.

1. Maintain a transaction summary or diary of accomplishments. Update it very few

weeks. This will give your resume writer a good leg up on preparing a proper resume for

you the writer will have something to write about other than your duties and

responsibilities. This is also a wise idea when you are lobbying for your raise.

2. Stay visible in the firm by volunteering for pro bono work, writing an article for the

newsletter (or starting one if your firm doesn’t have one), or helping to organize the

firm’s holiday party.

3. Request and pursue opportunities to learn new areas of your business by

volunteering to help out another practice group that may be overwhelmed, or by taking

CLE or professional development courses in areas where you are not well credentialed.

4. Show you are a team player by not grousing about how management messed up by

firing people who didn’t deserve it or for not being better business people. Be supportive

of their corporate decisions. … even though those decisions were probably wrong and/or

selfishly motivated.

5. Have your resume ready, just in case. Putting together a resume once you have been

laid off is a drag. It’s depressing. And it is easy to put off. Delay can result in lost

opportunities. You should always have a resume at the ready, and update it every six

months or so with information from your transaction summary.

6. Give some thought to a marketing plan while you don’t need to use it … it is much

easier to do a marketing plan when you are getting a paycheck than when you are not.

The plan can be very simple … what types of employers are you going to go after (law

firms, corporations, government agencies), what level of position, what type of salary,

what do you bring to the table that someone else with a similar background doesn’t bring,

and so on. Sketch it out in a page or two so you can get out of the gate quickly if needed.

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If you are an attorney or lawyer and you’ve been thinking about exploring your career options and or discovering “what else is out there” for you, but are not sure how to even start the process, get in touch with our team today for a virtual cup of coffee. You will receive a confidential, no-cost consultation to discuss your situation and goals, and will also get expert advice on how to launch your job campaign.

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