Losing Your Job Discovering Your Purpose

All of us can be affected by fluctuations of the economy.  Just the thought of what the economy might do can cause corporations to react with cutbacks and other belt tightening measures.  In a numbers driven world, employees have to be prepared.  A good first step is recognizing that you can lose your job as a result of how your employer might react to the economy.

Often we get into a routine of working day in and day out without paying much attention to the financial health of our employer.  Watching what happens to your employer is prudent, and can help you detect warning signs that might tell you that the company you work for may be in trouble.  If your employer is having difficulty, eventually jobs will be in jeopardy and yours could be one of them. 

One of the first warning signs is tightening of the purse strings.  Budgets are scaled back, business travel is restricted, and overall expenses begin to be closely monitored.  The assistant position that was open in your department is suddenly put on hold until further notice.  The monthly business trip you take is stopped, unless it can be specifically justified.  Every aspect of your expense report is scrutinized.  This is not a sign that upper management is suddenly losing it’s sensitivity, but it does indicate that something in the company is changing.  Be aware.  Take notice of change, in the upper echelon of the corporation, or an acquisition of another company.  I’m not suggesting that every time something happens to your employer you should jump ship.  I’m merely suggesting that in order to make intelligent decisions about your livelihood you must be aware of what is happening at your workplace. You can’t  afford to assume that your employer will keep you informed of its plans.  Employers usually only tell you what they think you need to know.  If employees are told everything, management rationalizes, at the first sign of trouble no one will be left to do the work.

In reality, having no one left to do the work may or may not happen.  Employers are really in a difficult spot.  On one hand, if they “tell all” key employees that could help the organization out of its difficulties could leave for more “secure” jobs.  On the other hand, being secretive only leads to speculation and rumours, both destructive to the organization and it’s employees.  Morale suffers and employees usually feel the company is being unfair and distrustful.  Often the very thing that the organization wants to prevent begins to take place.  Employees and managers begin to leave, often the most valuable going first.  Others that may be unsure of themselves hang on until the end.  It is a  lose-lose situation.

If a company has started cutting back on its work force severance plans begin to be put in place for those fortunate enough to get them; however, employers are not required by law to pay out severance packages.

If you are one of the fortunate first to be laid off during downsizing you are generally going to get the best deal.  Those employees that follow often receive less generous packages.  Often, in order to receive any kind of a severance package, employees are asked to sign an agreement meant to protect the employer as much as possible from any claims of unfair treatment or discrimination.  If an employee chooses not to sign, the agreement usually stipulates that no severance money will be paid.  Agreements are not supposed to take away any legal rights that employees are entitled to.  Needless to say, anything you are asked to sign should be carefully read and it may be advisable to seek the opinion of an attorney.