Prepare for Job Uncertainty

When a recession hits, it's easy to live a life of looming fear. As job security fades, instability encompasses all areas of life. While in some cases it's an irrational fear, layoffs are becoming a reality for many office professionals. Especially in distressing times, a pink slip can hit an employee like a ton of bricks. But, what if I told you there was a way to prepare for unemployment before it even happens?

The idea of preparing yourself to be laid off while you still have a perfectly good job might seem unnecessary, but it certainly couldn't hurt. Follow these suggestions to lighten the load in the event that your job is sacrificed:

Money

Money will always be your biggest concern if you lose your job. While it's entirely possible that you have very little cash lying around for a rainy day, it's important to sock away anything you can into an emergency fund. Ideally, you'll want to save enough cash to sustain you for 3 to 6 months. Consider all the basics: your mortgage, bills, and food. Contribute to this fund as often as you can. You might also consider depositing this money into an interest bearing account to earn a few extra dollars.

If you're in debt now, create a plan to relieve some of it. You don't want to be drowning in bills when the ax falls simply because it will only make things more difficult. It's also entirely possible that bad credit could impact your future job possibilities. In some instances, employers check a potential employee's credit as a measure of character. For more information on how this might affect you, read OfficeArrow's article "In the News: Employee Credit Checks."

Updates

Just like with software on your computer, you need an update from time to time in order to comply with industry standards. This is easily applied in a few steps. First, update your resume. There's no harm in getting your resume in great shape and ready to go the minute you find yourself at the unemployment office. Have someone read over it to make sure there are no errors you may have missed. For tips on creating your resume check out this article.

Next, you'll want to brush up on anything in your field you feel you are lacking in. If you're easily intimidated by MS Excel, perhaps you should take a class. Consider expanding your skills by attaining new certifications or licenses. Maybe becoming a Notary Public would help you in your next position or maybe becoming a member of the IAAP will help you network with others in your area. It's always a good idea to sharpen your skills, so there's no time like the present.

Mingle with the Employed

Yes, this is just a wordy way of describing networking, but you get the point. If your employer is forced to lay you off, it means there are probably plenty of other companies in the same boat. It's time to get acquainted with businesses that are thriving and need support; more specifically, yours.

Start reaching out to former colleagues through social networking sites like Linkedin to keep your finger on the pulse of the job market. Also, join local chapters of clubs in order to keep yourself busy and meet new people. After all, most hires happen as a result of knowing someone in the company (research shows about 64% in fact). This doesn't mean you were done any favors. It's not something to be ashamed of. You just needed a little boost to be introduced to the right people at the right time. Networking is incredibly effective in doing so.

While it's often difficult to see any upside to a weakening economy, the reality is this: the possibility of losing your job exists. It's much easier to prepare for these circumstances in light of a tough economy rather than being blindsided in a thriving one. Take the opportunity to get your affairs in order, even if you're able to keep your job for several more years. These steps will never hurt you but will always make you much more prepared for the future (and more valuable in the present).