There’s so much uncertainty in the market these days. But whether the prospect of a layoff threatens you with a bruised ego, true financial insecurity, or anything in between, there are some constructive things you can be doing.
There’s so much uncertainty in the market these days. But whether the prospect of a layoff threatens you with a bruised ego, true financial insecurity, or anything in between, there are some constructive things you can be doing.
Modern Mentor is hosted by Rachel Cooke. A transcript is available at Simplecast.
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So one conversation I’m having on repeat these days is around layoffs. As in – my company has had them (or I feel them coming) – and I don’t know what’s in store for me. I’m anxious and spinning and really unproductive.
There’s so much uncertainty in the market these days. But whether the prospect of a layoff threatens you with a bruised ego, true financial insecurity, or anything in between, there are some constructive things you can be doing.
Let’s talk about some of my top tips on how to navigate the uncertainty of a maybe-recession.
1. Be out there
You know the old saying – expect the best but prepare for the worst. Or, was it just my dad who said that?
In any event, don’t assume a layoff is coming for you. But if you’re legitimately concerned, it’s better to be prepared than caught off guard.
I’ve seen too many people around me wait for the news and then start reaching out to their network. This approach, unfortunately, can set us up to appear desperate in our outreach.
Don’t let that be you. Start connecting and reconnecting with people in your space before you need anything. Just be having conversations.
Be curious. What can you learn about your industry or other organizations?
Be generous. How can you help someone in your network? Oh yes – they’ll remember that kindness if the time comes when you need the same.
Be bold. Want an introduction? An informational interview? Need a review of your resume or some general career advice? Make the ask. Worst they can say is no, right?
Simply just doing some proactive networking can give you the assurance that should you need a plan B, you’ve already laid the groundwork.
2. Compute your impacts
Truth is, when colleagues around us start being let go, our own workloads tend to increase. And it’s so easy to get caught up in the volume game.
Consciously or not, we try to remind leadership of how valuable we are by showing off how much we can juggle – how many meetings we can hit, projects we can lead, committees we can join…
My advice? Resist that urge. It’s a losing game. It’ll burn you out and it misses the point.
Instead? Take a step back and consider impact over volume.
Rather than now much have you done, consider what you’ve delivered. Have you driven a cost save? Have you influenced a product innovation? Saved or grown a customer relationship? Have you given voice to a diverse minority group in your organization? Launched a program to develop or retain key talent?
At the end of the day, your value is not in how many meetings you can cram in, but what you make happen.
And having this clarity – being able to crisply and clearly articulate why you’re so essential to this organization –? That’s what you want to have at your fingertips next time you’re talking to your boss (or their boss). Because this is why they’ll fight for you if the time comes.
3. Find your sponsors
We all need sponsors. These are people in your company who won’t just give a thumbs up when your name is raised; no, they’ll be the ones raising your name when opportunity calls. They are active promoters versus passive supporters.
They’ve seen your work, they trust your gut, they feel your integrity. They like working with you and are motivated to keep you close by.
Sponsors need to be cultivated. We have to proactively find them, invite them in, and continue to prove ourselves over time.
So how do we do this?
Well, usually it’s not by asking “Will you be my sponsor?” Because that can be interpreted in many ways.
Instead, next time someone in leadership praises your work, asks your opinion on an important matter, invites you to a meaningful meeting – don’t let that be the end.
Do the greatness they expect, and then cultivate that relationship. Ask if they’d be open to a quarterly coffee, just to stay in touch. Ask if they’d be willing to support your candidacy to lead a project or committee. And offer to reciprocate that service any chance you get.
Fans become sponsors when we proactively show care for and invest energy into a strong and stand-out professional relationship.
The more sponsors you have at your place of work, the more you can rely on someone going to bat for you if the time comes to “right size” your organization. They’ll be the ones singing of your value to the organization.
4. Support your exiting colleagues
Part of what makes layoffs so hard isn’t just the anxiety it triggers in those left behind. But also – the survivors’ guilt we feel.
So if colleagues of yours have recently “been exited,” show them active support however you’re able.
Offer to write a LinkedIn recommendation for them. Invite them to scour your network and request introductions. Offer to review their resume, be a reference, or just share industry articles to help them stay sharp on trends as they network.
Or whatever feels authentic and relevant to you. But do show support because it will leave you feeling whole. But also, you might need their support someday. And they’ll be ready.
5. Be an extracurricular player
Listen. These seasons leave you feeling overwhelmed and busy. And preserving your energy is essential. So do not hurt yourself here.
But also, be a little curious. Is there something you can offer to do outside of your formal job description that seals in your value to the company a little bit deeper?
This doesn’t have to be an overwhelming commitment. But can you help steer an ERG? Are you able to mentor a new hire? Could you start a book club? Offer to speak at a local conference?
This should be extracurricular and not something that’s going to tax you heavily. Again, this is about impact over volume.
It’s easy to feel wobbly on the loose sands of a maybe-recession, but you can get some security. What is an easy action you could take to build your certainty…and that might even deliver some real value to your organization?