How to Protect Yourself from Future Layoffs

We have seen recently headlines of layoffs and redundancies across the technology sector. Well in excess of 120,000 people have been directly affected in 2024 alone and this is in addition to the 300,000 plus we have seen in the past few years.

Why is this happening? Quite simply the pace of change has increased with future technologies rapidly changing how we work and the effectiveness of our work. This means that to stay competitive organisations need to adapt and change at pace in order to maintain a competitive advantage.

Of course this is cold comfort to those people who get the dreaded invite to a meeting with HR out of the blue. But what can you do if you are in one of those tech companies that are looking to make reductions in their workforce?

In this ever-evolving tech landscape, no role is 100% secure, but you can certainly take steps to build your layoff immunity by being adaptable, proactive, and continuously learning. Here are key strategies to future-proof your career:

Be the Lifelong Learner: The technology sector is constantly changing, and what’s cutting-edge today might be obsolete tomorrow. Stay ahead by continuously educating yourself.

Take the initiative to learn new technologies such as AI, machine learning, or blockchain, which are in high demand and explore adjacent skillsets outside of your core area.

For example, if you're in software development, consider gaining expertise in cybersecurity or DevOps. Stay informed about industry trends and market shifts by reading articles, attending webinars, or participating in industry conferences. The more you know, the more valuable you are.

Diversify Your Skill Set: Don’t rely on one core expertise. In today’s environment, versatility is a major asset.

Develop complementary skills that make you adaptable across multiple roles and expand beyond technical abilities.

Focus on leadership, project management, or cross-functional collaboration, which are critical in today’s agile environments. Strengthen your soft skills like communication, problem-solving, and team-building. These make you a go-to person, not just for solving technical problems, but for managing relationships and leading initiatives.

Having a broad, transferable skill set means you're less likely to be confined to a shrinking role and can pivot to new opportunities within or outside of your organization.

Create Value and Show Impact: In times of economic uncertainty, companies are more focused than ever on value and results.

Make sure your contributions are recognized by demonstrating how your work drives revenue, reduces costs, or contributes to innovation whilst quantifying your achievements.

Use data to show how you’ve helped streamline processes, boosted team productivity, or led projects that had a measurable business impact.

Engaging in initiatives that solve key business challenges or contribute to future growth whilst at the same time being a strategic thinker and problem-solver makes you indispensable.

Build a reputation for being the person who makes things happen. The more visible your value is, the more likely you are to be retained, even in difficult times.

Network Internally and Externally: Don’t underestimate the power of relationships.

Build connections both within your organization and across your industry.

Internally, make sure you are known across teams and departments. Cross-functional relationships and visibility can provide safety when decisions about who stays and who goes are being made.

Externally, maintain a strong presence on platforms like LinkedIn, attend networking events, and engage with industry peers. Opportunities often arise from strong networks, even when the economy is tough.

Be Flexible and Open to Change: Adaptability is one of the most valuable traits you can cultivate in uncertain times

Be open to taking on new roles or responsibilities within your current organization. Flexibility in moving between departments or projects makes you a more valuable asset.

Don’t be afraid of lateral moves or shifts that expand your experience. Sometimes, stepping sideways leads to greater career longevity and opens doors you wouldn’t have expected.

Remember, while no one can predict the future, you can take proactive steps to fortify your career against economic downturns.

Stay adaptable, keep learning, and always be prepared to show your impact!

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