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Downsizing Got You Down?


Is your company joining the stampede toward "lean and mean"? Do the prospects of "Downsizing" or "rightsizing" (sometimes called "dumbsizing") remind you of Chinese water torture? Do the current jokes make your nerves, rather than your funny bone, scream? (What’s the definition of an optimist? A [Company Q] employee who brings his lunch to work!)

If so, you’re in excellent company. But have you noticed that just about every item of "news you can use" assumes that the potential rightsizing victim is comfortably ensconced in a nuclear family? For example, we read advice aimed at a two-income household: "...work toward banking one of your paychecks". A number of public school systems are gearing up to offer counseling to students whose lifestyles may undergo change when a parent becomes unemployed. But so far none of the news has specifically addressed the single-parent household.

These efforts to help workers and their families cope with an unclear future are laudable, of course. But what about the specific issues faced by singles?

Special Issues for Singles

  • Loss of your job usually means the loss of the sole household income.
  • You face the experience without the moral support of an adult partner.
  • You may have sole responsibility for the physical and psychological welfare of children.
  • A single parent who isn’t a direct victim of a layoff may face loss of child support if an ex-spouse becomes unemployed.

At a time when you can’t depend on your sterling work record or your obvious abilities to guarantee your job, you can take some steps to help yourself. Even if the axe spares you, you’ll do yourself a favor and gain a lot of satisfaction by taking more control over your life.

If You Feel Your Job Is At Risk...

  1. Cut down on your expenses.

Save as much as you reasonably can. If you’re seriously concerned, of course you’ll rule out the Club Med vacation or the BMW, but don’t rush to the nearest realtor to put the house on the market. Eliminating even small luxuries can ad up quickly in case you need it.

  1. Get a grip on your budget.

List all unavoidable household and personal expenses; what’s the total? List all savings and sources of income. Does your company provide a termination allowance? If your salary were to stop, what would the shortfall be? Will you qualify for unemployment benefits? How much income do you need to avoid major lifestyle changes? Understanding your options helps you avoid panic!

  1. Update your resume.

Obvious, right? But, if you’re a long-time employee of one company, this may require more time and digging than you can imagine! Take advantage of all resources to make your resume look and sound professional. Many organizations offer workshops to help. Your company may even schedule sessions in company facilities.

  1. Take an inventory of your skills.

This goes hand-in-hand with updating your resume. A good resume workshop or guide will help you translate past and current job functions into skills that you can market to other employers. Don’t forget the valuable skilled off the job – in social organizations, volunteer work, and children’s activities. As you categorize your skills, consider how they may apply to other types of careers. Be aware that you may have to change careers. After a skills analysis, you may find that you want to change careers – especially if you’ve become a stressed-out basket case in your present job!

  1. Watch the classified ads.

Look for the kinds of skills businesses want. Be prepared to sharpen old skills and learn new ones – especially computer skills. When you’ve determined the kinds of positions that seem right for you, prepare several sample resume cover letters tailored to job types.

  1. Work on interviewing skills.

Interviews are crucially important; a bad one can more than undo the good impression your resume has created. Again, guides and workshops help with tips on how to dress, what kinds of questions to prepare for, and what pitfalls to avoid. Take advantage of them! Practice in front of a friend or a mirror – even if you feel ridiculous at first.

  1. Carefully consider what you really want to do.

Can you develop a hobby into a career? What special services or products can you supply to fill a vacuum that may not have existed a year ago?

  1. Attend meetings of professional groups or societies that appeal to you.

Meetings are often free or are open to non-members for only a nominal fee. Even if a program bores you to tears, you’ll meet people and make connections that can pay off later. Keep a list of promising contacts, and jot down significant details about your conversations.

  1. Prepare a support system.

If you’re accustomed to being a loner, try to spend more time with friends, neighbors, and co-workers. You’ll have a head start as a member of a singles group! If you avoid contacts now, you’ll probably be more inclined to withdraw if you are actually laid off. If you’re a single parent, be open and honest about your concerns. Stay calm, but let the kids know some belt-tightening may be necessary.

If It Happens To You...

  1. Take advantage of all services.

Don’t cut off your nose to spite your face! Disinclined as you may be to have anything to do with your former company, make use of whatever services they or the community offers – workshops, outplacement services, counseling, etc. Remember, no event is a waste of time when you make new acquaintances and expand networking opportunities.

  1. Research businesses that need your skills – whether they know it or not!

Tailor your resume and a cover letter to each business, and send them to an appropriate individual in the organization. (The public library, and internet, is loaded with this type of information). Ask for an opportunity to discuss the kind of work you’re interested in. Follow up with a phone call.

  1. Acquire new skills or refresh old ones

Now your scrutiny of the classified ads can pay off. You know what most employees want in job-seekers. Today, almost any position requires some computer knowledge, word processing, electronic communication, internet access, or database management. If possible take advantage of retraining benefits offered by your company. Most school districts provide inexpensive classes in software programs for personal computers.

  1. Consider contract or part-time work.

As you look for a full-time job, you may have opportunities for contract or part-time work. It can help put food on the table – and in the bowls on the floor or wherever else you need to supply food. But if also gets you through the doors of businesses where you can discover if they’re the kinds of places you’re really interested in.

  1. Thinking of starting your own business?

Use all available resources to get advice (and maybe funding). Again, your company may help, but many other local organizations present seminars or one-on-one assistance. You may want to look into franchises, which make the process a bit less daunting than going it totally on your own.
(See our suggestions at the end of this article)

  1. Keep your bridges intact.

Your employer may become so lean and mean that you’ll be able to provide services from outside the company. A positive attitude about your past accomplishments will also help you during interviews for any new position. Bitterness may be natural, but it’s an unlovely emotion. It can defeat your chances for a new start – but only if you let it!

  1. Network!!!

Above all, don’t crawl into a hole and pull it in after you. Don’t be ashamed or embarrassed by your situation. No one is immune these days.

The headlines about "disappointing economic indicators" and continuing layoffs across the U.S. are scary. We can live in perpetual anxiety, or we can take matters into our own hands by being prepared. As a savvy individual who is in control, you’ll earn the respect of the business community. What’s maybe more important, you’ll respect yourself!

Watch future issues for financial strategies in our Money department. If you’d like to consider working at home in your own business, see the programs available on our Publisher’s sites:

Visions & Ventures at http://wwwbvventures.com  This site has programs from some of the best Gurus on the internet as well as free or affordable resources to build your business.

Make money on the energy crisis with a new technology product from Ecoquest International – http://www.bvventures.com/energy.htm 

Your Break to Freedom – http://www.yourbreaktofreedom/healthy  This is the recruiting site for our group of dealers, and is part of a group of 10 sites used for customer and dealer training on various products for Air, Water, and Healthy Living.

Our Galleria – http://www.ourgalleria.com   A free affiliate program has recently been added so now you can earn a 15% commission when you share your unique Galleria ID with your friends, associates, or in advertising.

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