The pink slip epidemic. Are you ready for yours?

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This past Friday, the Bureau of Labor Statistics reported that the nation's employers cut 533,000 jobs in November.

It appears that trend will continue.

I have been talking with companies that are planning for big layoff’s at the beginning of the year. Some of these soon to be displaced folks haven’t had to look for a job in over 10 years. My company intends to prepare them for the 21st Century job market. While it doesn't seem like it in the short-term, these people are fortunate. Most companies aren't including services like ours as part of their severance packages. TR Career Transition Services.pdf

If you hear the words,

"Unfortunately, the company is being forced to make cutbacks and your position is being eliminated…"Are you prepared for what comes next?

Chances are, you're not. That much is evident with all the people walking around, scared to death about losing their jobs. Dude…chill out, lay off the anxiety meds, and take control of your career.

Here are some things you need to do STARTING NOW:

1. Save money. Make sure you have extra money in the bank in case that severance doesn't stretch very far. In a job search, time affects quality. The less money you have, the more desperate you get. And that's when you take that lame job with crap pay.

2. Be clear about your Ultimate Career Lifestyle. Have a career plan that is built around your UCL…not around a path in a single company.

3. Build and maintain your network. If you only do one of these this is the one to do. Start connecting with those colleagues from the past, doing small favors, and putting all that good Karma out there to come back to you. Use social media sites like FohBoh, Linkedin, and Talent Revolution to stay connected and begin expanding your network.

4. Know where to go for some side work or a consulting gig. This can also buy you some time. Remember time=quality There are groups that pimp out this kind of work. For some this may be a great opportunity to start your own business. Our consulting group has noticed that with all of the layoffs we are getting more request for outsourced work. Starting your own business is hard, actually the hardest thing I’ve ever done, however, there’s something liberating about being in control of your own destiny rather than having it in the hands of some whack job exec (ok, not all execs are whack, but there's plenty of evidence that some of them are).

5. Begin developing multiple streams of income. Today is the day of Slash careers. Read the book, "The One Minute Millionaire." Make a list of 100 things you could do to make some extra dough. If a teenager can do it you can.

6. Work with a Career Coach. Now, while you have the money, it may be a good move to invest in a Career Coach who will help you design a 5-year UCL plan. If you want a referral to a few great coaches, I have a stellar list.

7. Stay up-to-date on 21st Century job hunting trends and techniques. Actually, if you continue leveraging social media to build and maintain your network, you won't need to worry as much about the other stuff.

These steps should be taken whether you lost or are at risk of losing your job or whether you are living your UCL with a great company. It's about being in control of your career.

Now here's a video dedicated to my homies that have lost their jobs this year.

The "pink slip" remix

The "Pink Slip" Remix from Laid-Off And Looking on Vimeo.
amanda hite
founder, president
talent revolution
a drastic change in thinking and behaving with talent

Tags: amanda, career, coach, hite, laid, off, pink, revolution, slip, talent

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Comment by Dan Rodriguez on December 27, 2008 at 8:51pm: Amanda is right, things are changing, and being well prepared for the change can become(difficult) for some of us. As time changes, we need to realize that it may be time to change along with the change. I can admit that today, looking for employment isn't as easy as it was in the 70's, 80's, or 90's. There are alot to consider for part of meeting requirements, and soon more strick guidelines will approach us than todays applicants are challenged with. Not that one can NOT get employed, but if we're not aware of the trends in todays job market we could find ourselves behind.

Comment by Andy Swingley on December 9, 2008 at 7:37pm: It's like Russian Roulette if you aren't careful....

Comment by Keith Bernhardt on December 9, 2008 at 12:31pm: Kind of on the same subject, but I saw a commercial on tv last night for Avon.
I didn't realize they were still around !

My mom did it for awhile when i was a kid.

Comment by Amanda on December 9, 2008 at 12:21pm: I have toying around with the idea of a second income with a company who's product I am guiltily ADDICTED TO! It would be easy for me to sell the product on MY SCHEDULE and would be easy income because I love the product. This article is enough to convince me to do it! I am thankful everyday that I still have a job and now realize that I am approaching this all wrong.

I am a self motivated individual but have no clue what I would do or where to start if I were to get the ax! Thx Amanda for writing this...awesome stuff as usual !!!!

(not that I would expect anything less from you!)

Comment by Mark Hagan on December 9, 2008 at 10:30am: This is so very true. Doing all the things listed here are a must! Looking for a job today is different from just 3 years ago, and you have to work fast and hard to find a job. You have to be self-motivated to achieve your UCL. Trust me, I didn't expect to get my "pink slip", but I have looked at it as a positive thing since day one, and meeting with Susan, and Amanda was the best thing that ever happened to me. Doing these steps listed here are right on.