How to Organise Your Affairs After a Lay-Off

October 20, 2008 · By Kalyani Mukherjee Filed Under Features Tagged as: exit strategy, lay-off

The global financial crisis has meant huge-scale losses for companies and one way in which they would be saving costs would be to restructure their work-force. This means that many among us now stand to lose their jobs. should such a thing happen to you, instead of hitting the panic button, here is how you can equip yourself with an organised exit strategy.

The first step before leaving the company would be to locate copies of your performance appraisals and other records from the HR department. Also look for status reports and files of your past projects. These are essential to update your resume and will come in handy while marketing your abilities to your new employer.

Don’t forget to take what is yours. Go through your employment papers and see if there are any perk or benefits to which you are entitled and which haven’t been given to you. If you have been given a flexible account, turn in all outstanding claims so that any balances are not forfeited from your wages. Also calculate how many casual or sick leaves are unused and see if your company will pay for them.

This is the time to renew connections with past mentors, co-workers, clients and anybody who can give you valuable leads on other job opportunities. Also keep a look out for job fairs, trade conventions and skill workshops.

Finally be careful while planning an exit strategy. Take time to consider termination papers and never sign anything without reading and understanding the clauses thoroughly. Also negotiate aspects of the termination in your best interests, for instance if the lay off occurs before a bonus or pay rise was due, make a case that you are entitled to that additional pay.

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