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1-Page Summary of Rebound
“The Inner Game of Getting Laid Off”
If you’ve seen the signs, losing your job will not be a shock. However, if it comes as a surprise, you’ll have mixed feelings. You may feel relieved because you no longer need to worry about being laid off. At the same time, however, you might worry about finding new work. Other emotions can also whipsaw you: bewilderment at what just happened; alienation from your peers who are still employed; isolation from others in similar situations; self-doubt that makes it difficult to move forward with confidence and optimism for the future; but also perhaps an opportunity to pursue something more fulfilling or meaningful than what was lost in this layoff.
Getting fired can make a person feel like they have no control over their life. However, that is not true in most cases. You are the one who has control over your career and identity. Your old employer does not own you because you are an expert in something specific or hold a high position at work. You don’t need to be an assistant executive vice president to be successful in life; it’s all about how you use your time and resources now that matters.
People used to have the same job for their entire lives. They had nice pensions and benefits when they retired. Now, jobs are not as secure. People can be laid off at any time, so they should prepare by developing new skills and capabilities that will make them more valuable in a changing environment. Opportunities present themselves all the time; people just need to look for them and take advantage of them whenever possible.
“Preparing for a Layoff”
You can tell when a company is going to lay off employees because the industry it’s in is struggling. The company may be losing money and cutting costs, which will affect you. If your organization just bought another firm, there are probably already people who do what you do at that new organization.
If you work for a family-owned firm, your boss might fire you. If this is the case, get your finances in order so that if you do lose your job, you can pay off any debt and have some money set aside to help cushion the blow of unemployment. This advice also applies even if it’s not likely that you’ll be fired because having extra cash on hand is always smart.
Online savings accounts are a good alternative to banks. Term life insurance is important in case your company fires you and your corporate policy ends.
Health insurance – It is more expensive to get an individual health plan than a company-sponsored one. Use your company’s policy while you still have it, and schedule any tests or treatment if you have any medical problems.
Cash is extremely important if you’re unemployed. You should convert whatever you can to ready cash. Use eBay and Craig’s List to get rid of things that aren’t being used, and pay with cash whenever possible due to credit cards having significant negative effects on the unemployed.
If you think you’re going to lose your job, or even if you don’t, always conduct yourself in a classy manner at work. That way people will respect and remember how well you handled the situation later on. You have only one reputation so do not destroy it by being angry about losing your job. If your company terminates your position send a letter to the CEO thanking him/her for the opportunity of working there and ask them for references letters that can help with future jobs.
When you lose your job, don’t be too upset. Instead, look at the situation as a minor bump in the road that will lead to something more rewarding. Repeat mantras like “I’m okay” and “My family comes first.” Stay serene during your last few days at work. Think comforting thoughts if you get angry or upset. If you lose control of yourself, apologize for it later on.
