Amy Lindgren
The storm is still raging in terms of cuts in the federal workforce, but we’ve come to the last of three columns on the topic of navigating a buyout offer or potential layoff.
These articles haven’t been focused on the current situation for federal workers — partly because it’s changing by the hour, and partly because it’s so far from normal. Instead, the advice highlights what most people could do when faced with a buyout offer or potential layoff.
As a quick recap, Part 1 in this short series described steps for responding to the buyout offer itself, while Part 2 looked at factors to consider when weighing whether or not to accept. Today we’ll pivot to the broader scope of what to do before anything is initiated, when you only suspect trouble may be coming.
These tips are presented in categories that have a lot of overlap; just mark the steps that feel like to-do items for you and jump in on those that are time-sensitive.
On the job
• Review your employee manual or work agreement to understand rules that might apply. There’s no guarantee, but this knowledge could provide leverage for future negotiations.
• Download what belongs to you, such as kudos letters and training certificates. Now is also the time to make (appropriate) work samples, to use later in an interview or portfolio.
• Eliminate personal items from paper and digital files. Family photos and personal contacts will all be toast if you store them on a company device that gets shut down on short notice.
• Gather contact information for colleagues. This will pave the way for later networking. Within ethical bounds, individual clients and vendors could also fit this step. To be safe, you could ask each one for permission. In either case, do refrain from copying lists — that could be considered theft of company property.
• Gather your things. No need to be obvious, but it’s good to have less stuff at work at this stage. Desk drawers, book shelves, break room, locker, bench space, your car or truck if it’s company-issue … making a list will help ensure nothing gets left behind. It could also protect you somewhat if your things are boxed up on your behalf by someone else.
• Review current health insurance. How much would it cost if you continued this plan after a job loss and had to pay for it yourself?
Personally
• Manage your health care. If you won’t be leaving for awhile, you can hustle now to schedule preventative appointments — which is an appropriate use of your paid sick time, by the way.
• Secure extra financing, such as an additional credit card or a home equity line of credit. You may not envision needing this but it will be harder to do when unemployed.
• Accelerate other plans if logical. Changing homes or finishing a degree are two examples of things that might be better accomplished before job cuts are announced.
• Consider changing your withholding to increase your take-home pay. Only do this if you can use the excess to fund emergency savings or pay down expensive debt.
• Consider taking a side job, to provide a cushion, no matter how small.
Moving forward — if cuts seem imminent
• Start shopping for your own phone, computer, printer, or any other equipment you rely on that’s currently provided by the company.
• Ask for letters of recommendation from your boss or key colleagues. Letters are better than securing a promise to be a reference, but both are valuable.
• Create a personal directory of company contacts such as your boss, HR, and others you may need to reach after leaving.
• Update professional memberships. If the membership is in your name, it belongs to you. Switch the contact information to reflect your personal email and phone, then create a new password.
• Prepare your materials. Update your résumé and swap LinkedIn recommendations with co-workers if possible.
• Set meetings. Networking, financial advisers, career strategists, the unemployment office — basically anyone who can help you hit the ground running are people you want to meet with.
Or…
If nothing has been announced but you suspect your boss needs to make cuts, consider offering yourself for a layoff. This will help you customize the terms and effectively structure your own buyout. Just don’t quit on your own, unless you have a definite place to land. Otherwise, you’ll likely lose the chance for severance, unemployment, or other benefits that are dependent on being forced out.
Related Articles
Working Strategies: Weighing the buyout offer Part 2, personal considerations
Working Strategies: Responding to a worker buyout offer – Part 1
Working Strategies: Second Sunday Series: Using AI tools for résumés and cover letters
Working Strategies: Book review: Getting along better with folks
Working Strategies: Recognizing ‘gotcha’ job interview questions
Amy Lindgren owns a career consulting firm in St. Paul. She can be reached at alindgren@prototypecareerservice.com.
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