Tuesday, April 29, 2008

Am I Going to Be Laid Off?

These things are really hard to predict. Supposedly we're in recession and this may mean more lay offs, more cut backs on budgets and less spending. So how do you know that you're not going to be the one being cut?

George's Employment Blawg has a post Lay-Offs - Are You Next? (hat tip) that gives some good advice on what to look for to help predict how secure your job is.

So what to look for per George?
  • Listen to the company. If they say they’re having financial challenges, believe it!
  • Look at raises and bonuses. Are they the same as last year? Are they gone? Are they token “don’t worry” raises and bonuses?
  • Watch the ebb and flow of business. If the company runs on contracts, and it lost one or didn’t get the numbers it needed, be wary. Also, if it recently made an acquisition that put it beyond its means, this could spell trouble.
  • Beware outsourcing. If the company is now outsourcing a lot of things it used to handle internally (areas like accounting, HR, IT, tend to be hit first), using temp agencies instead of hiring full-time employees, or is considering or has already started sending jobs to India or China, this means it’s having trouble affording its workforce –- which can be a serious sign of trouble.

So then once you determine that your company might be in danger of making lay offs - how do you know you're not personally in danger?

  • Are you openly unhappy? Have you been outspoken against company policies or openly complaining?
  • Are you expensive? Have you cost the company money or created an inconvenience?
  • Are you highly paid?
  • Are you getting along with your boss?
  • Are you in a bad-luck department? Are you working in a department that was unprofitable or troublesome over the last year for whatever reason?

Read the full article here for more indepth descriptions on the points above.

In somewhat related news, Charlotte's WSOC TV 9 came to our Job Fair last week to interview some of our job seekers about the recession and economic downturn and how it's effected their job search as well. I think what's helpful here is maybe one industry is suffering more than another but some are thriving.

Read the text version or watch the video: 9 Investigates: Some Niches Thriving In Economic Downturn, Jobs Remain Plentiful.

-Rosie Reilman

1 comment:

Anonymous said...

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And every thing they want to tell anonymously.And www.layoffgossip.com is providing you that platform.