When the last round of layoffs happened I realized how many people were not prepared at all for the possibility of being affected. I'll admit, while I wasn't among those who were hit it did serve as a wakeup call for me as well. I've started working on my contingency plan then and there. Nothing too drastic, but I updated my resume, started saving more, and started keeping an eye out on any openings. It might not be much, but it's more than I've been doing before.
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Hat Tip to @adm+1aCLljNs, elegant and eloquent put.
@1kvy+1aCLljNs patience grasshopper. If I may quote a famous pugilist MikeTyson 'Everybody has a plan until they get punched in the face.' Hang in there....
I have a very detailed plan. I actually want to be offered a severance so I can move onto a better paying job and for a company that treats their Associates better. I have even asked my Manager to let me go if there are cuts. That was two years ago and several folks have been cut. I am hoping that my number is up soon.
Build your external network and nurture it, esp. with recruiters in the field(s) you are most interested in. Apply once or twice a year for external jobs that sound even remotely interesting to you just to keep your interviewing skills polished. Much less pressure to interview for a job you don't really want and good ecperience, plus more people get to know you. (and who knows? if it pays more, you might really like it!!) You can always network internally, too. Just ask people if you could get 15-30 minutes to learn more about what their team does. Even managers. People love to be asked for their advice and talk about themselves!
@lha+1aCLljNs, good point and I remember they ran my fingerprints as part of my background check. Keep your record clean and your finances in order.
Also make sure to pay your bills and keep your credit clean because in this industry, they will run a credit check on you as part of the hiring process. You will not be hired if your credit is tarnished in banking. It's ridiculous considering they will lay people off and leave them to fend for themselves and still expect them to pay their bills without a paycheck.
Keep in mind that it will be difficult to switch industries if laid off. A lot of jobs are bank specific and you don't develop good transferable skills you can rely on when applying outside. It's a tough racket to get over.
After a year into a job, you ALWAYS look and keep an eye on your next gig, don't get complacent. Pay attention to company news and economy. Update your resume every time you take on new assignments, responsibilities or reach any milestones worth mentioning. Make sure you have good, solid references that will back you up. Pay attention to your boss and those closed door meetings, they speak volume, especially in the second half of the year. If your work load is getting very light or they ask you to document your processes, work flow...etc, be very careful, you might be hanging by a thread. Very important, never tell your work buddies you are working on your plan B. Oh, and everybody knows the reason why all of he sudden you come to work dressed up: the interview. Above all, have fun and enjoy the insanity.
I have to quote Mike Tyson on this: “Everyone has a plan until they get punched in the face.” But, as a side note, you ALWAYS look for a job, it may be passive but you have your feelers out, just in case. Just look around you, how long have been your co-workers there? How old are they? Are you gonna make it there by that age? What is the average tenure? Are you surrounded by a lot of young kids? Can your job be replaced by technology? Are things changing faster? Most likely you need o have a plan B to survive in this environment.
mortgage is paid off and got some emergency money in the bank. I'm doing better than most. i use the layoff fear as a motivator to make sure i've got my act together. i dont ever want to be at the mercy of an employer.