Worried About Layoffs? 5 Tips For Job Seekers (And Job Seekers-To-Be) In A Slowing Economy

Layoffs seem to be on the rise after several years of firms frantically trying to find enough people to fill their job openings. According to the layoffs tracker, more than 37,000 tech professionals have lost their jobs so far this year. And last year, more than 150,000 people lost their jobs.

Workers are concerned about being a victim of the upcoming round of layoffs in their industry as the US seems to be headed for a potential recession: Insight Global, a staffing services company, conducted a study of 1,004 working US adults in June, and found that 78% of individuals were concerned about losing their employment during the next recession. You might be wondering how to prepare for the likelihood of a layoff or what to do if you lose your work because additional cuts are anticipated soon.

We've outlined 5 steps you should take if you're laid off.

1. Create connections

Relying on your former contacts is one of the best methods to find a new job. You might post about the incident on social media to get attention from your network.

Some LinkedIn users have recently posted about losing their employment at organizations like Amazon, Twitter, and Netflix. Some of these posts have become popular online.

Employees who post about their circumstances should acknowledge what they gained from their previous employment and let others know they're open to new options.

You don't want to speak negatively about your employer or the situation to potential employers.

2. Take your time

After hearing they have been fired, one of the first things a person should do is nothing, according to professional experts. Before beginning to plan their severance and job search, employees need time to absorb their feelings.

Employees will be emotionally affected by the split, whether they anticipated their layoff or were caught off guard by the news. It's important to allow oneself some compassion and time to think things through.

3. Innovative job searching

While laid-off workers are probably eager to find employment, we advise them to post their resumes to LinkedIn, Indeed, and CareerBuilder and make their professional profiles "available to work" and searchable by recruiters. In addition, you should actively apply for open employment.

Moreover, a check-up with the employer for an update after a week or so for more information unless the job advertisement for which you submitted specifies a deadline for when the company will cease accepting applications.

You can also apply on HireTechTalent.com, which is a Reverse Recruitment Platform. It allows companies to apply to individuals directly concerning a job, rather than the traditional application, which drains a person's time throughout the application process. 

Thus, job seekers can accept or reject the offer based on preferences and get hired quickly. Essentially, the idea is to have one profile that enables hundreds of opportunities with the addition of joining multiple Tech Jobs Fair events.

4. Consult an attorney

Human Resources will probably send you a document to sign after you are fired. This letter often serves two functions: waiving your right to sue the business and granting the business control over any negative comments you may make about them.

Companies should give you at least a few weeks to have your own legal advice and evaluate this agreement before you sign it. A lawyer can defend your interests in talks and challenge the wording of a non-disparaging agreement.

If at all possible, seek legal assistance. There are several free clinics online that people can locate if they need legal representation but are unable to pay for it due to being laid off.

5. Get your layoff negotiated

You can respond with your own offer after reading over HR's offer in its entirety.

Negotiate the conditions of your departure in the same way that you would the conditions of your entrance.

Employees, for instance, demand severance money, career coaching services, stock options in place of unused paid time off, an extension of insurance into the transitional period, and the official cause for termination that will qualify them for unemployment benefits.

Moreover, severance should be paid in numerous installments rather than a single installment and should be at least equal to four weeks of pay for each year you worked for the company.

Conclusion

Layoffs are crucial, as is finding a solution to the problem. Certainly, it will be challenging. But that in no way establishes your worth. It's important to maintain a positive attitude.