#layoffs
While everyone is commenting about layoffs (quite frankly how many do personally know what it means), I thought it may help to share a perspective.. from someone who faced this twice in life & saw 2 more in close quarters..
Some lessons from past.. Thread below
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While everyone is commenting about layoffs (quite frankly how many do personally know what it means), I thought it may help to share a perspective.. from someone who faced this twice in life & saw 2 more in close quarters..
Some lessons from past.. Thread below
1/
In corporate world, layoffs are a reality. One can try to put a logic to it, but it doesn't matter. Logical, Business, Macro Economy or otherwise, it is a reality that can happen.
If one believes their job is secure till retirement, nothing can't be farther from truth
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If one believes their job is secure till retirement, nothing can't be farther from truth
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Business reasons, Egos (yes this also is a factor), funding drying up, Economy.. reasons can be quite different.
In every appraisal cycle, their is a "curve-fitting" exercise. Those who are involved know this.
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In every appraisal cycle, their is a "curve-fitting" exercise. Those who are involved know this.
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For statistics lovers, this is fitting data within different bins of standard deviations. Danger zone is on the left side of the mean.
Enough said about the process, what it means to individual.
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Enough said about the process, what it means to individual.
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Layoff is a traumatic experience. No matter what one espouses or reads, undergoing layoff is a painful experience.
Loosing morale, self-confidence, unknown sense of fear can be quite damaging psychologically. It can drive perfectly rational people to do unexpected things
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Loosing morale, self-confidence, unknown sense of fear can be quite damaging psychologically. It can drive perfectly rational people to do unexpected things
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Some lessons:
1. Develop a habit of Loving what you do. This is VERY VERY important. You can't choose the job you will do (one may not have the luxury). One needs to be flexible to take up different roles. Adaptability is a KEY skill.
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1. Develop a habit of Loving what you do. This is VERY VERY important. You can't choose the job you will do (one may not have the luxury). One needs to be flexible to take up different roles. Adaptability is a KEY skill.
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2. Don't get emotionally attached to companies. Remember the company will decide to let you go. Love your job, importantly love your salary, but never the company.
One needs to keep moving on as time moves on.
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One needs to keep moving on as time moves on.
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3. Keep your powder dry
Save min. 30-50% of your take home & build a cushion. Financial cushion is the only medicine that would help you tide over these challenging times.
When you take a huge loan, think 100000000 times before taking the same.
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Save min. 30-50% of your take home & build a cushion. Financial cushion is the only medicine that would help you tide over these challenging times.
When you take a huge loan, think 100000000 times before taking the same.
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4. Keep you EMIs limited to 30-50% of your take home
When one takes an EMI, it runs to 15-20 years. Remember, no one guarantees a job for 15-20 years. Be financially prudent.
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When one takes an EMI, it runs to 15-20 years. Remember, no one guarantees a job for 15-20 years. Be financially prudent.
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5. Learn new skills
Usually learning newer skills in your tech industry helps
Try to understand what is happening around
Volunteer for projects to learn something new
If you have been doing something for 2-3 years, break the flow & try to expand your horizons
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Usually learning newer skills in your tech industry helps
Try to understand what is happening around
Volunteer for projects to learn something new
If you have been doing something for 2-3 years, break the flow & try to expand your horizons
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6. Network
One can't speak enough of this skill. Build a wider network & connect with people in org, company, industry. Networking is ONE SKILL that will mostly help you land the next job.
Important once you cross a threshold in terms of experience
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One can't speak enough of this skill. Build a wider network & connect with people in org, company, industry. Networking is ONE SKILL that will mostly help you land the next job.
Important once you cross a threshold in terms of experience
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7. Help Others
If you have a job & aren't impacted by these actions, please help out other friends.
Support them to find a job.
Some may require psychological support.
Some may require financial support - Yes, this too could happen.
Support in whatever form you can
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If you have a job & aren't impacted by these actions, please help out other friends.
Support them to find a job.
Some may require psychological support.
Some may require financial support - Yes, this too could happen.
Support in whatever form you can
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Lastly, be empathetic. Everyone is fighting their own battles & we really don't know what is happening in others' minds.
Don't judge people, for no one will know the real reason for getting laid off.
Layoffs are never pretty & leaves a permanent scar in life.
🙏🙏🙏
Don't judge people, for no one will know the real reason for getting laid off.
Layoffs are never pretty & leaves a permanent scar in life.
🙏🙏🙏
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