Make A Plan B Before You Lose Your Job

Contributed by Trey Sloan

The sad truth is that you work for your company as long as they need you and not necessarily the other way around. Unfortunately, outsourcing, new technologies and seemingly random economic forces have turned most workers into lifelong job hunters. Common wisdom says that the best way to never lose your job is to make yourself indispensable to your company. Even being indispensable won't guarantee that you will never lose your job. For example, what if your company goes out of business? Smart workers know that this is true and make plans for unemployment even as they have a satisfying job.

Because job loss often happens without any warning, everyone should have a Plan B in case of disaster. The people who have prepared for the worst also have the best luck finding a new job quickly. If you have a strategy before you find yourself suddenly unemployed, you will make smarter decisions. The day you lose your job is not a time when you should start winging it. With a Plan B, you can take comfort in knowing that you are ahead of many people who also received the bad news that they were unemployed.

The single best thing you can do for your job prospects is to have the skills required by most employers. Almost every job uses computers and most jobs require specific skills that are nearly assumed as employers consider applicants. Many times candidates without those skills are not given a second look. Video Professor® offers excellent basic computer training as well as online training, offering a variety of home computer learning courses.

The so-called soft skills such as good with people or quick learner are always a plus, but the people who can boast hard skills have a clear edge. Obtain as many skills as you can. Find out what skills your coworkers have and find training if you are missing something. Take advantage of the training provided by your current company. When you need additional training, seek other sources of training.

One of the best places to look for your Plan B job is with your current employer. Perhaps your job is in jeopardy but another department seems stable. Keep an eye out for open positions in your current company; they can be an easy way to find a backup job. (Don't be too obvious about this so your supervisor doesn't assume that you're looking for a new job and would therefore be a good candidate for downsizing.) If you prove that you can meet your current responsibilities, it will be easy for your company to envision you in another position.

Part of your Plan B should also include practical matters in case you do have to leave your current company. Find out which benefits offered by your employer are portable (meaning you can take them with you to your next job). Familiarize yourself with COBRA policies (the mandatory program that allows you to keep your health benefits after losing your job) and how much COBRA will cost you. If you're not already, get yourself on a budget to help identify the expenses which are luxuries and which are too important to cut back. Consider meeting with a certified financial advisor to review your Plan B when or if your job seems unstable.

When constructing a Plan B, keep in mind that losing your job could present an opportunity as well as a challenge. The whole point of having a Plan B is to avoid having to take the dreaded desperation job. Perhaps your Plan B should try for a better job than your current one. Take inventory of what you do and do not like about your current job. If you had to leave your job, would you want to do the same thing again, or seek a new direction? Plan B could be just the thing you need to find a new and exciting career. Find out if a degree is usually required in the job that you want. Is something as simple as learning how to use the computer keeping you from getting a better job? Then make Plan B correct that shortcoming.

Having a Plan B is like having a fire extinguisher, you hope that it won't be necessary but having it makes it easier to sleep at night. You can never eliminate the stress of being jobless. The situation is always scary, but a little preparation can help you cope with a bad situation.

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