India›s workforce has been at the receiving end of the economic impact of the pandemic. While many of the employees faced salary cuts up to 40-50%, there are a significant number of people who were laid off. One might assume that layoffs were a phase and the time to recover losses that occurred due to Covid-19 is not too far, but the recent layoffs in EdTech giants like BYJU’s and Topper paint a different picture.
In such uncertain times, there are certain strategies that one can adopt to evade a powerful economic blow. Having an action plan might not help in retaining the same job, but it will sure help in sustaining a huge financial blow as well as finding more opportunities.
BE INDISPENSABLE
The trick to retaining a job is to be invincible. Be so good at your job that it prompts the employer to think twice before taking a decision on laying you off. This does not happen in a day. Daily actions translate into a long-term commitment. Show up on time, learn as much as you can, deliver more than expected, come up with new ideas, maintain good relationships with your colleagues as well as your seniors, and you will carve out a space for yourself in your organisation.
INVEST IN YOURSELF
Learning is a process that must never end. Skills like creative writing, social media marketing, video editing, graphic designing, machine learning and others are skills that are highly in demand. Even if you are working an 8-hour shift and are not actively looking for a job, these skills will give a boost to your resume, enhance your skill set and set you apart from others.
BUILD NETWORK
Social media has made it possible for us to stay connected all the time, not just with our friends and family but also with potential employers. Building a positive relationship with your colleagues, ex-colleagues, seniors and people who are working in other organisations will ensure that you never miss an opportunity. Showcase your work on websites like LinkedIn to ensure that you don’t look for an opportunity, rather it comes to you.
BUILD ASSETS
No matter what your current pay scale is, it is always advisable to have multiple sources of revenue. That is only possible when you start investing early. Whether it is your 1st paycheck or your 300th paycheck, make sure to save a portion of your salary. Spend that amount on things that will give you a bigger return and not just dig a hole in your pocket. It is always advisable to have an emergency fund. As the term suggests, this emergency fund will help you sail through a difficult time. Even if you are laid off, you will be financially secure.
POSITIVE SELF TALK
Finally, it might get difficult to stay unaffected by what is happening around you. The uncertainty can take a toll on you but staying positive can help you not only manifest your dream job but also avoid the stress. Have a positive self-image, eat nutritious meals, dance your heart out, spend time with family and wait for life to surprise you.
Having an action plan might not help in retaining a job but it will help in sustaining a huge financial blow as well as finding more opportunities.