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Another day, another layoff. Between Spotify, Google, and, yes, Morning Brew, it looks like workers are getting hit with the other L-word on the daily. For tips on coping with job loss, Money Scoop spoke with Janet Lenaghan, dean of Hofstra University’s Frank G. Zarb School of Business. This is her advice on how to deal with layoffs.
First, give yourself time to process. To sleep! Make waffles! Go ahead and dive in a bit, but don’t get stuck in a negative mindset. “It really is an opportunity to step back and reflect,” Lenaghan told Money Scoop. “When we’re busy working and building our careers, we often don’t have time to do that.” Also, don’t forget to review your severance package.
If you’ve survived a round of layoffs, it’s normal to feel mixed emotions. Your job may be secure, but you may be dealing with post-layoff anxiety. Lenaghan recommends channeling that anxiety into action and reassessing her career mindset. “Be marketable, visible, invaluable,” she told Money Scoop. “You have to nurture your skills and your network […] so if you end up in the unfortunate position of being part of a layoff, you already have that network available for you to tap into.”
Can you collaborate with another team? Are you visible in your area of expertise? Can you join a company-wide initiative, like an employee resource group? “You want opportunities to be able to talk to people in the organization and people above you, and to be able to show what it is that you’re doing and how important it is to the bottom line,” Lenaghan said.
And if you’re dealing with survivor’s guilt, don’t be afraid to talk to your recently laid-off colleagues. Reach out via email or social media, let them know how much you value them as a peer, and tap into your own network to help them find new jobs.
“[That network is] critically important: make sure you’ve consistently nurtured those relationships [and] you’re developing them all the time,” Lenaghan said. In the end, it’s not just about his own professional benefit; it’s about connecting with, well, humans—both in good and bad professional times.
If you just got laid off from your first job after graduating college, you have two great resources: your former academic advisors and the Career Services office at your alma mater. “You have to contact your university, contact your faculty, tap into your university’s alumni network. […] When you’ve just graduated from college, there are so many resources available to help you find that next role,” Lenaghan said.
Remember: layoffs make racy headlines, but the job market is still looking pretty good…for now. Silver linings? ☁️—Lillian