If you find yourself one of the unfortunate victims of the current recession and are laid off from your job, you’ll be wanting to try everything you can to find a new position. Gerri Willis has four main tips to help job hunters in the current market:

1. Network as much as you can. Apparently 80% of jobs are found through networking rather than answering job ads. That’s a huge proportion so get involved with professional organizations related to your industry and keep up social and business contacts.
2. Get online. Make sure you have a good online profile - several websites allow you to advertise your professional qualities for free and many recruiters will check you out there.
3. Be flexible. Be prepared to work part-time or on a short-term contract to get a foot in the door. If nothing else, do some volunteer work to get the contacts and the chance for a more permanent, paid position.
4. Be organized. Make sure you keep good records of which jobs you’ve applied for and where you’ve sent your resume, so that you can sound professional when they contact you or if you need to follow up. Also make sure that you have a well-organized, brief resume that is easy to read at a quick glance.

While everyone hopes it won’t happen to them, losing your job is certainly more likely during this economic climate than it was a few years back. If you’re one of the unlucky ones, the least you can do for yourself is figure out the way you can get the best severance package:

• Start out by making sure you know the company policy for severance packages. It varies widely between companies and while it’s often calculated according to the years of service, how much you get for each year you’ve worked there can vary from one week to two weeks, or even much more if you’re in an executive level job.
• Don’t be afraid to negotiate. Ask for more than they offer you; you’ve certainly got nothing to lose, because you’re losing your job anyway if it gets to this negotiation stage. Knowing what the policy is (or was - they might change it) and knowing what is standard for the industry can help make a good case for getting more.
• Ask for more than straight severance pay - ask for other conditions too, for example continuing paying your health insurance for you for an extended time.
• Get some advice before you agree to a severance package - or at least ask for a day or two to think about it before signing.

In difficult economic times, a lot of people might be forced to change jobs after being retrenched, but they might not be competing with too many others for the new job they try to get. Apparently, in uncertain times like these, it’s particularly common for professionals to stay put - most white collar workers are very reluctant to change to a new company right now, preferring to stay with the employer they know. (more…)

Everyone knows a recession is likely to bring more unemployment so if you’re feeling nervous about whether you’ll keep your job through 2009, you’re definitely not the only one. Money Magazine says that economists are predicting a rise in the unemployment rate to around 7 or 8 per cent during 2009, which means that there are certainly a few jobs that will be lost. (more…)

Most of us would think that getting a new job - especially if it’s one that pays more - is all good news, and we’d just be waiting for the start date. But the more financially aware would think that there are still some important things to plan ahead when you’re about to have a change of job. Some of these include:

• Consider which benefits might be better with your current employer than with your next one, and take advantage of it. For example, if your health insurer is different you may find it worthwhile to get new spectacles before you leave your current employer; or if you need some dental work and your next employer offers a better health package then postpone it if you can.
• Look at the vesting schedule of your pension plan with your current employer. If the date you will be fully vested is occurring soon, it can get you a lot of extra pension savings by staying with your current employer until that date, which far outweigh the extra income you would get by moving to the new job sooner.
• Think about the tax liability in your new job. If it will push you into a higher tax bracket you might want to make early tax deductions so that you don’t feel the effect so hard.

photo credit: acme401

Losing your job is not something anybody likes to think about, but in economic times like these it’s something more and more employees have to face. Some recent tips from Yahoo Finance are depressing but important: they listed a few tell-tale signs that might mean your job is under threat. The things you should look out for are:

• Some of your colleagues lose their jobs - then lay-offs are clearly in the air, and even if a company says that they’re finished, nobody can be sure.
• The company stops hiring new employees - if there are suddenly no job ads (and especially if you see vacant positions where people aren’t being replaced), the company could be just a small step away from letting some current employees go.
• Your company is failing to reach targets - when a business isn’t performing well, lay-offs are often part of a solution to help the business run better.
• There is less training on offer - a company which knows it will reduce its staff numbers soon won’t spend money on training these staff.

Keep an eye on these situations happening in your workplace. Of course, they can happen for a number of reason, but being prepared for job loss by keeping your finances in order, having an emergency fund and keeping an eye on other job opportunities can make a terrible time a whole lot better.

As a recent New York Times article points out, job hunting isn’t really the same as it used to be. Here’s how:

• There are several very large job websites and each vacant position posted on the sites will receive hundreds (or sometimes thousands) of replies. A sensible job hunter will keep an eye on these sites and still apply for relevant jobs, but not have high expectations of getting a positive response.
• Internet job sites that collect resumes from job hunters change the way we should write our resume. Often, it won’t actually be read by human eyes, but their software will search for keywords that are relevant to the vacant position. That makes learning to use the right key words a vital skill.
• Some recruiters ignore all job advertising sites now and use social networking methods; for example, one Atlanta accounting firm direct emails relevant people from LinkedIn and either one of them or, more often, one of their acquaintances that they pass the information on to, becomes the successful candidate for the job.
• Despite all the new ways to look for a job, many recruitment experts say there is still one key method: getting out there and physically meeting people. Face-to-face contact is still the most reliable way for a recruiter to decide that you’re the person for the job.

It’s a scary time in America - unemployment is rising, and things are getting harder to buy. Layoffs are becoming a sad necessity for many companies, and employees wonder who will be next to get the ax. CNN answers the question:

• First come is not first served: Years ago, people were laid off in order of seniority - they newest employees were the first to go. Today, employers are much more concerned with keeping their best talent, and that could mean a 20-year company veteran or the 22-year old recent graduate who just joined 2 months ago.
• The highest paid: When companies are trying to dig themselves out of a hole, they often look toward their highest-paid employees. Today, they really need to be sure that their highest earners are worth every penny. If you fit into this category, now is the time to maximize your production as much as possible.
• Necessity means jobs: Companies hoping to maximize tiny profits will often begin by looking within, to determine which jobs or entire departments are superfluous. Unfortunately for many, if your employer determines that your job is not absolutely necessary to the company’s success, you may find yourself without a job.

If you’re sick of being stuck in a cubicle, can’t stand obeying a boss, or just want to work from the comfort of your own home (and pajamas), a home-based business might be right for you. Too good to be true? Not so, but there are a few factors and tips you want to consider before making the big decision to work from home:

• What do you want to do?: Before falling in love with the general idea of working at home, devise a plan for what you actually want to do. There are many, many books at your local library dedicated to this subject, so don’t be shy: write up a business plan and leave no stone unturned.
• Can you work for yourself?: It may sound like a breeze, but you and you alone will make or break your chances at business success. After you do the easy stuff, like proceeding through all the legal steps of creating your own business, you’ll need to budget wisely (you’ll pay your own taxes) and learn to manage time wisely, to mention just two challenges.
• Can you make enough to save for retirement?: You’ll need to make more than just a survival income, so determine whether your idea has long-term work-at-home potential: you’ll need to pay all current expense, all of your own taxes, and save for retirement, among other investments.

For more questions to ask yourself, read the full article here.

History and personal experience teaches us that the grass is always greener on the other side - in the job world, it’s not different. But before you look for a change of career, consider that several of the most glamorized are actually some of the 10 worst jobs in America: (more…)