Tag: layoff


Your Job Provides You Security. Until It Doesn’t. Then What?

Depending on what industry you’re in, your job security may feel a little shaky right now due to COVID-19.

Even if you haven’t lost your job because of the economic impact caused by the coronavirus, or even if you’re able to return to work soon, you may feel less sure of your future career than ever before.

No one could’ve predicted six months ago the situation we’re currently experiencing world-wide.

This is why there really is no such thing as job security. Stuff happens.

The only constant is, business will always be business. Companies will always do what they have to do to keep afloat for as long as possible. Which often means downsizing.

This is why it’s important to invest in what I call “career insurance.”

What is career insurance?

Career insurance is basically another term for comprehensive career coaching. It’s designed to prepare you for any event that may arise in your career.

This includes the expected, like a promotion, voluntary job or career change, or starting your own business. It also includes the unexpected, like a layoff or a loss of business.

Think you don’t need career insurance?  Let me share a few stories with you.

The unexpected layoff

I’m often hired by companies to provide career coaching and outplacement counseling for the employees they have to lay off.

This service isn’t something all companies provide their pink slip employees. So don’t assume your company will do the same for you if you get laid off.

If they do, take advantage of it!!! It’s on the company’s dime and it can help you find your next opportunity much faster than trying to do it all on your own.

Many of the laid off employees I’ve worked with in this capacity were taken by surprise by the company’s decision.

Several have said to me, “I always thought I’d retire at this company. I love my job and the people I work with. And I had no intentions of ever leaving and never thought I would get downsized.”

Lesson #1:  Never assume you’re not at risk of losing your job. Even if your company is in a growing industry and promises to be loyal to you. Business is business and things change. If your company doesn’t provide you any outplacement services, you may want to invest some severance money into career coaching. This is so you can find your next opportunity quicker, and learn how to negotiate a higher salary. Learning such skills will pay for any coaching expenses, and then some.

The need for a change

Teresa* hired me for some career coaching services because she was very unhappy in the job she was in.

She wanted to look for something new, and also explore the possibility of being her own boss. So I got to work on helping her meet these goals.

After only three coaching sessions, Teresa found out her job was being eliminated.

When she got the news, she felt a sense of relief she’d already paid for a career coach and had begun the steps to a successful job search, making the news less of a blow.

She knew our sessions would help put her in the best possible position to find her next opportunity more quickly. She also knew the coaching would help position her for promotion the following year.

Lesson #2:  It’s better to already have some career insurance in place, if and when an issue arises, than to not have it and wish you did. Especially if you don’t receive a good severance package.

Prepare for the worst, and the best

I started working with Shane* at the beginning of the season. He chose my basic package of just a few sessions which we completed several weeks later. When I received an update from him, this is what he had to say:

“All of my worlds have been colliding since our last session, and I’ve only been able to handle it because of the great place we got to with our sessions. So thank you. I just had my interview for my promotion that was in the works earlier this season. Whatever shakes out, the confidence and clarity I gained from our sessions made the interview process really rewarding.”

Lesson #3:  Career coaching isn’t just for leaving your company. If you like where you work, coaching services can help you advance in your company if this is your goal. It can also prepare you for any career curve ball (good or bad) that may come your way.

How to increase your job security

While you have no control over the current pandemic or your company’s response to it, you do have control over your own career strategy.

paNASH’s career coaching services help you develop a strategy to leverage your skills and market them for new opportunities, providing career insurance and improved security no matter what happens with your career.

Is it time for you to invest in some career insurance? If not now, when?

Don’t wait until your current job security is gone. Click here to get started.

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*Names have been changed for confidentiality purposes. Click here to see client-submitted Google reviews.

3 Ways to Gain Control Over Your Career in a Recession

The past few weeks have been difficult for a lot of people. There are people who are sick from the coronavirus and missing their family members. Others have been working from home, or worse, been laid off. And we’re all facing a looming recession.

There was so much “white noise” on social media last week you may have missed my previous posts, including three different ways to help you gain some control over your career in these trying times. In case you missed it, here’s a compilation of those three things you may find useful now or in an upcoming recession.

How to gain control over your career amidst layoffs and a recession

Maybe you’ve been fortunate enough to continue working from home during this coronavirus quarantine. But perhaps you haven’t been so lucky.

Some folks have been told not to report to work. And since their job doesn’t lend well to remote work, they’re having to use precious vacation or sick days. Or worse, they’re being laid off.

If this is you, or could possibly be you in the near future, you probably feel like you have no control over your current career or job situation.

But, there are some things you can do to help you feel a little more in control, and can help you be better prepared in the event of a job loss.

1. Stay in control by updating your resume the right way

If it’s been a while since you last updated your resume, now is a good time to do so. It’s definitely more productive than spending your time watching Netflix while quarantined!

I’m sure there are several things you need to add to your resume since you last updated it. Which means you need to make room for those new things.

So how do you know what to get rid of to make way for the new info? I have several free videos, including one entitled:

What NOT to Share On Your Resume: 13 Things You Should Delete Immediately

You may not realize it, but there are probably some things on your resume that are hurting your chances of landing a job interview. They need to go! Find out what they are before you send your next résumé out by watching the video.

Once you’ve updated your resume, you have a chance of getting a free resume critique from paNASH. Details are available in the video.

2. Be prepared to become a freelancer during a recession

Even if you’re still able to work during the coronavirus quarantine, whether from your office or from home, let me ask you something:

Are you prepared to be a freelancer if forced to?

Think about it. If you lost your job tomorrow and couldn’t find another one right away, would you be able to pick up and start making some extra money?

Do you already have some other streams of revenue in place, like freelance work or a side hustle?

I’ve previously written about the importance of having multiple streams of income. You can’t rely on only one stream because it could evaporate tomorrow.

I’m not saying this to cause you to panic. Instead I say it to help you feel more productive and a little more in control of your current situation.

How to create multiple streams of income

Here’s what you have some control over. Sit down and make a list of skills you have that others would pay you to perform because they lack those skills. Also add to your list anything you own that others might want to rent on a short-term basis.

Decide which items on your list will take the least amount of time to start earning the most money.

Then, get the word out. Use your current social media profiles to do this. And join platforms you’re not already using. Start with the ones that make the most sense for your product or service.

You may be surprised what kind of response you get.

Forced to be a freelancer

Recently, my hairstylist’s husband was in between digital marketing jobs. Although he received several interviews and offers, the offers weren’t financially feasible based on his experience and the potentially long commutes.

While holding out for something more financially feasible, he took some home improvement jobs as a side hustle since he’s good at this sort of thing.

When one side hustle opportunity was completed, another one came along. Then it got to the point where he had so many side jobs to choose from it made more financial sense to make this his full-time gig!

He’s now making more money doing home improvement than he would’ve if he’d stayed in digital marketing.

Need help becoming a freelancer?

If you need help with the steps of starting a side hustle or work opportunity for yourself, let me know. I’ve successfully transitioned to working for myself and have helped several clients do the same.

3. Getting laid off? The #1 thing to ask for when you leave

Getting laid off is difficult and scary. It’s happening to so many people right now due to a recession caused by the coronavirus. It can make you feel like your career and your life is out of control.

On some occasions you can convince your boss or company that you’re worth keeping around. Such as when you’re able to show your past contributions to the company and the savings of letting you work remotely, using hard data. Hard data gets people’s attention.

But if your data doesn’t outweigh the data that supports letting you go, there’s still something you can negotiate.

Outplacement counseling

You can always ask your company to provide or include outplacement counseling in your severance package.

Outplacement counseling is simply another term for career coaching or job search assistance. It’s set up to help you find your next job more quickly, and to make a smoother transition to it.

Many companies already offer it in their severance packages. I know this because I’m often one of the people they pay to provide such a service for their employees.

Take advantage of outplacement

If your company already offers outplacement counseling, take advantage of it! I’m always surprised at how some people just toss this benefit aside. Their company has already paid for the service, yet some employees think they don’t need it.

Even if you don’t think you need outplacement counseling, use it! If you already have another job lined up, use it to help you prepare for your first year in your new job.

Career coaching isn’t just for helping you find a job. It’s also for helping you succeed in your next job and building your career. And everything discussed in your coaching sessions remains confidential. It will never be shared with your past employer.

Ask for outplacement

If you’re getting laid off due to the coronavirus, and your company doesn’t offer outplacement counseling, ask for it! What do you have to lose at this point?

If your company needs convincing, help them understand how it not only benefits you, but also their business. It protects the company’s brand and reputation. It mitigates the risk of litigation. And, it provides them the opportunity to do the right thing for their employees.

If your company agrees to pay for the service but doesn’t have anyone to provide it, tell them you know someone! Feel free to have them email me, Lori Bumgarner, at lorib@yourpassioninlife.com. I’ve provided outplacement counseling to hundreds of companies’ employees over several years, especially during times of recession.

Additional help when getting laid off

If your company says no to offering outplacement counseling, there are still some free and affordable resources here at paNASH, starting with paNASH’s on-demand programs and free career success videos. Click here to receive free access to the following videos:

Control what you can during a recession

Knowing what you can’t and can control means the difference between feeling panicked and empowered. Hopefully the tips and resources provided here will make you feel more empowered. I look forward to helping you navigate these uncertain times in your career!

Related posts

Getting Laid Off? The #1 Thing to Ask for When You Leave

Part 3 of 3

Getting laid off is difficult and scary. It’s happening to so many people right now due to the economic impact of the coronavirus. It can make you feel like your career and your life is out of control.

On some occasions you can convince your boss or company that you’re worth keeping around. Such as when you’re able to show your past contributions to the company and the savings of letting you work remotely using hard data. Hard data gets people’s attention.

But if your data doesn’t outweigh the data that supports letting you go, there’s still something you can negotiate.

Outplacement counseling

You can always ask your company to provide or include outplacement counseling in your severance package. It’s one thing you still have some control over.

Outplacement counseling is simply another term for career coaching or job search assistance. It’s set up to help you find your next job more quickly, and to make a smoother transition to it.

Many companies already offer it in their severance packages. I know this because I’m often one of the people they pay to provide such a service for their employees.

Take advantage of outplacement

If your company already offers outplacement counseling, take advantage of it! I’m always surprised at how some people just toss this benefit aside. Their company has already paid for the service, yet some employees think they don’t need it.

Even if you don’t think you need outplacement counseling, use it! If you already have another job lined up, use it to help you prepare for your first year in your new job.

Career coaching isn’t just for helping you find a job. It’s also for helping you succeed in your next job and building your career. And everything discussed in your coaching sessions remains confidential. It will never be shared with your past employer.

Ask for outplacement

If you’re getting laid off due to the coronavirus, and your company doesn’t offer outplacement counseling, ask for it! What do you have to lose at this point?

If your company needs convincing, help them understand how it not only benefits you, but also their business. It protects the company’s brand and reputation. It mitigates the risk of litigation. And, it provides them the opportunity to do the right thing for their employees.

If your company agrees to pay for the service but doesn’t have anyone to provide it, tell them you know someone! Feel free to have them email me, Lori Bumgarner, at lorib@yourpassioninlife.com. I’ve provided outplacement counseling to hundreds of companies’ employees over several years.

Additional help when getting laid off

If your company says no to offering outplacement counseling, there are still some free and affordable resources here at paNASH, starting with paNASH’s on-demand programs and free career success videos. Click here to receive free access to the following videos:

I look forward to helping you navigate these uncertain times in your career!

Related posts

Are You Prepared to Be a Freelancer If Forced To?

Part 2 of 3 posts

Even if you’re still able to work during the coronavirus quarantine, whether from your office or from home, let me ask you something:

Are you prepared to be a freelancer if forced to?

Think about it. If you lost your job tomorrow and couldn’t find another one right away, would you be able to pick up and start making some extra money?

Do you already have some other streams of revenue in place, like freelance work or a side hustle?

I’ve previously written about the importance of having multiple streams of revenue. You can’t rely on only one stream of revenue because it could evaporate tomorrow.

I’m not saying this to cause you to panic. Instead I say it to help you feel more productive and a little more in control of your current situation.

How to create multiple streams of revenue

Here’s what you have some control over. Sit down and make a list of skills you have that others would pay you to perform because they lack those skills. Also add to your list anything you own that others might want to rent on a short-term basis.

Decide which items on your list will take the least amount of time to start earning the most money.

Then, start getting the word out. Use your current social media profiles to do this. And join platforms you’re not already using. Start with the ones that make the most sense for your product or service.

You may be surprised what kind of response you get.

Forced to be a freelancer

Recently, my hairstylist’s husband was in between digital marketing jobs. Although he received several interviews and offers, the offers weren’t financially feasible based on his experience and the potentially long commutes.

While holding out for something more financially feasible, he took some home improvement jobs as a side hustle since he’s good at this sort of thing.

When one side hustle opportunity was completed, another one came along. Then it got to the point where he had so many side jobs to choose from it made more financial sense to make this his full-time gig!

He’s now making more money doing home improvement than he would’ve if he’d stayed in digital marketing.

Need help becoming a freelancer?

If you need help with the steps of starting a side hustle or work opportunity for yourself, let me know. I’ve successfully transitioned to working for myself and have helped several clients do the same.

Stay tuned for the final way to maintain control in part three. Submit your name in the right hand column to receive alerts for new posts.

Related posts:

How to Gain Control Over Your Career Amidst Layoffs

Part 1 of 3 posts

Maybe you’ve been fortunate enough to continue working from home during this coronavirus quarantine. But perhaps you haven’t been so lucky.

Some folks have been told not to report to work. And since their job doesn’t lend well to remote work, they’re having to use precious vacation or sick days. Or worse, they’re being laid off.

If this is you, or could possibly be you in the near future, you probably feel like you have no control over your current career or job situation.

But, there are some things you can do to help you feel a little more in control, and can help you be better prepared in the event of a job loss.

This is part one of three recommended strategies.

Stay in control by updating your resume the right way

If it’s been a while since you last updated your resume, now is a good time to do so. It’s definitely more productive than spending your time watching Netflix while quarantined!

I’m sure there are several things you need to add to your resume since you last updated it. Which means you need to make room for those new things.

So how do you know what to get rid of to make way for the new info? I have several free videos, including one entitled:

What NOT to Share On Your Resume: 13 Things You Should Delete Immediately From Your Resume

You may not realize it, but there are probably some things on your resume that are hurting your chances of landing a job interview. They need to go! Find out what they are before you send your next résumé out by watching the video.

It’s available here along with two other free videos:

Once you’ve updated your resume, you have a chance of getting a free resume critique from paNASH. Details are available in the video.

Keep your resume updated

I’ve said this before and I’ll say it again, it’s always a good idea to update your resume every six months. There are two reasons why:

1. It’s a lot easier to remember what you’ve done over the past six months than the past six years.

2. You never know when you may need it in a situation like we’re currently facing.

Updating your resume and keeping it updated are just a couple things you have control over in uncertain times.

Control what you can

Knowing what you can’t and can control means the difference between feeling panicked and empowered.

Stay tuned for additional ways to maintain control in part two and part three. Submit your name in the right hand column to receive alerts for new posts.

Related post:

paNASH was recently voted as one of the top coaches in Nashville by Expertise.com for the fourth year in a row!