Layoffs are here to stay, whether you like it or not. They are and have always been a part of the corporate world. Slowly but surely, they will creep into the government sector, too. The US government has already started laying off the masses. In India, the layoff might not be too direct, but jobs will become redundant, and the government might start under-employing. This was evident in the case of BSNL and MTNL.
Over time, companies go through various changes like changes in business models, restructuring, relocation, outsourcing, and impact of AI.
Layoffs are bound to happen.
It is a popular belief that the non-performing folks are the first ones to get laid off. Although there is some truth to that, there are times
when entire teams are also laid off. In that case, both performers and non-performers get laid off. Hence, if someone gets laid off, it doesn’t mean he/she was a non-performer.
In a large layoff, individuals are just lines in an Excel sheet.
Large companies set broad criteria for layoffs. If you have managed your managers well and are in a good light, then you are saved. Otherwise, you are doomed.
How to cope with the loss of a job?
Layoffs are painful. They trigger a range of emotions that are difficult to process. The loss of self-esteem can be daunting but keep reminding yourself that being laid off doesn’t make you a mediocre performer.
Organizations should also avoid creating a stigma around layoffs and evaluate candidates based on their skills.
Though it is easier said than done, individuals should see this as an opportunity to redeploy themselves for a better job that is safe and secure.
How should you prepare to deal with layoffs?
1.) Constantly evaluate the possibility of being laid off: Assess the competitiveness of your business, team performance, and your relationship with managers, so that it does not come as a shock.
2.) Kaizen or continuous improvement: Keep upgrading yourself in the adjacent fields and roles so that you are less prone to layoffs.
3.) Follow the framework for success: If you have built your capabilities for the adjacent roles in the same company, try to socialize your thoughts and pitch your ideas to your startup leaders (for small companies) and managers who have adjacent roles (for larger companies).
4.) Create opportunities for yourself: If you are applying to other companies, improve visibility through social media and one-on-one connections to appropriate people.
Final word
Layoffs are tough but they don’t define your future. Take control of your career, pursue new opportunities and stay resilient and you can turn this uncertainty into a growth opportunity. Remember every setback is a setup for a comeback. Stay focused, keep learning, and move forward with confidence.
How would you cope with a layoff? Let us know in the comments below!