Pin It

Is a layoff in your Future?

DKrunner | Sep 2, 2009 |

0 Comments | Rating: 0

Our economy is in a state that affords piece of mind and job security to almost literally no one. It seems that companies, family, and even the government alike are all struggling with finances. Foreseeing a layoff can be helpful in preparing for the financial strain of losing that stream of income; here are some ways to forecast a job loss.

Check out your company's level of profit. Is there high demand for the services that your employer provides? Is it a necessity or a service that can easily be cut from the budget if the metaphorical belt of American's pocketbooks needed synching? Taking a good look at the bustling or vacant revolving doors of the company you work for can be a good indicator of your own job security. If you notice that the business has been significantly less busy than normal, you may want to start putting a portion of your paycheck away in case a layoff occurs.

Examine the frequency of upper level management staff meetings. If there has been a sudden increase in the number of meetings that the bigwigs are having, there may be a layoff or surge of unemployment in your office. Another way to tell is by the mood of those key players; is there a gloomy feel within your workplace? The upper level staff will be the first ones to either decide or hear about the need for a reduction in staff, and this may very well be reflected in the work atmosphere.

Check back on the last time you got a raise. Are you overdue? If a company is going to have to initiate a layoff, they will try and avoid it first by avoiding raising the paychecks of their current employees. If your last raise was a long while ago, and the other indicators ring true as well, it could be a sign that you could soon be filing for unemployment.

A layoff, while extremely stressful for a multitude of reasons, is not the end of the world. Know your unemployment rights and maintain all paperwork regarding the layoff for your own records. If and when you are laid off from your employer, the first thing that you need to do is file for unemployment. Foreseeing the signs of a layoff will not entirely fix the whole problem, but it can help you to prepare in a way that ill make the whole situation easier.