Tips to Prepare a Career Emergency Plan
One of my friends called me some time back completely panicked. The reason? She was about to be laid off by her employer and did not know what to do! I tried to calm her down and asked, “Do you have a career emergency plan?” But she had no idea about what this career emergency plan is! Well, do you know, and do you have a back-up plan for your career emergency? If not, read more…
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Why do you need a career emergency plan?
Just as emergency plans are made to meet crisis such as an earthquake or fire, our career plan also needs an emergency plan to meet the last minute changes or situations. Many people continue with their current job for years without getting an idea where they are heading in their career.
Nowadays, one can come across one or the other news about job cuts, companies planning to downsize, etc. This could certainly raise a question- “Is your job at risk?” In fact, no job is 100 per cent secure. Companies hire when their business demands and cut some jobs when required. In that case, a career emergency plan can help you not to hit the panic button during a layoff, career change, or finding a better opportunity.
Hence, it is always advisable to prepare yourself for a ‘pink slip’. Here’s how you can create your perfect career emergency plan:
How to prepare for it?
- Keep looking for new opportunities
The simple rule is to stay in the unexpected game. Do not stop exploring new or better career opportunities even if you are comfortable in your current job. A plan ‘B’ is always recommended in the form of a continuous or a passive job search.
- Maintain your emergency fund
Save on your unnecessary expenses and save a major amount from your paycheck to maintain an emergency savings fund. Proper financial planning can help you to meet your expenses in case of any critical situation like a sudden layoff.
- Keep updating your resume and online profiles
It is always good if you keep updating your resume and online profiles on professional social networking sites like LinkedIn. Keep on adding your latest accomplishments, skills, projects, career plans, etc.
- Compile a list of your dream companies
A clear focus on your preferred employers/companies makes it easier to search a new job. Hence, prepare a spreadsheet and include important details such as company name, website, contact details, and job page links.
- Build your network
Maintaining a strong career network helps a great deal in finding a new job and circulating your resume in the right hands. Social networking platforms such as LinkedIn and Twitter offer a great place to connect with people across the geographical boundaries. Hence, if you are looking for a job abroad or in your own country, your career network can play a vital role in updating or referring to a relevant job. All you need to do is to keep your network informed about what you are looking for.
- Stay in touch
Creating profiles on social media platforms and joining groups is not sufficient to get great results. It is vital to manage your network regularly and reach out to all your contacts. Retweeting posts, inviting others to join various groups, complimenting them on their accomplishments, etc. are some ways to stay in touch with your network.
- Identify your career ‘Non-Negotiables’
In situations like layoffs, it is natural to get panic and tempt to take up any first job that comes your way. However, this might turn up to be worse when the decision taken in a hurry makes you search your job again after six months. Hence, prepare a list of your factors that you prefer in your new job.
The best way to sail through a bad stage in your career path is to have a ready action plan. Take out some time from your daily work schedule for all the above mentioned points- social networking, profile updating, looking for new opportunities, and maintaining an emergency savings fund.
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