- How to Prepare for a Possible Layoff
Tech booms and busts are nothing new, so the recent layoffs at places like Facebook and Google may not be that surprising. The media industry is its own perpetual roller-coaster ride, so forced departures from NBC News and Gannett are understandable.
Do a career checkup while you are still employed.
First, keep a close eye on your employer’s health. If your workplace holds regular staff meetings, ask about whether it is meeting its financial goals. If you work for a company that trades its shares publicly, this information will be readily accessible.
J.T. O’Donnell, a career coach, noted that you can set up your LinkedIn profile to ensure recruiters are able to get in touch with opportunities. That means turning on the feature in privacy settings that indicates you’re open to being contacted, updating your headline on LinkedIn with top skills, updating your work history to quantify accomplishments in various positions (with data when possible) and posting your perspective on industry news so LinkedIn followers get a sense of your voice.
Many companies offer professional development budgets. Take advantage of those to build skills that will make it easier to land your next role.
Save emails that you’ve received praising your work and testifying to your abilities. When applying for jobs in the future, you might want to reread those as a reminder of some of the strongest work you’ve done, or even to quote from.
Separate your personal and work data, and make a plan to retain important information.
Anything that you do on company equipment can be monitored and obtained by your employer. If you became involved in a legal issue, all of your data — including photos, browser history and personal messages — could become exposed in the discovery process.
The simplest way to divorce personal data from work machines is to use only devices you own for personal matters. Buying your own computer is one solution — and there are plenty of options for less than $200, like Chromebooks or refurbished machines.
Make your money moves.
If you have cash in an emergency savings account, it will supplement any severance pay and unemployment insurance you receive. If you don’t, now is a fine time to start putting money away, given that many banks are offering savings account interest rates of 3 percent or more.
If your employer offers pretax health care flexible spending accounts or dependent care accounts, this might be a good time to seek any reimbursements throughout the year as you incur eligible expenses.
Understand your legal options.
Employment lawyers offer several suggestions, and the first one is just basic career hygiene. “Ask for feedback, or demand it, on your performance so you have a record of it,” said Lisa J. Banks, a partner in Washington with the firm Katz Banks Kumin.
Ms. Liu also suggested talking to trustworthy people about what is happening as it happens. Think, too, about who might be willing to speak on your behalf someday if a post-layoff dispute arises.
“When one person says something, it’s not as credible as three people saying it,” she said.
Plan for the moment.
Layoffs may come without notice, and you may suddenly find yourself on Zoom or in a room with someone who is as uncomfortable as you are. Let that person marinate in those feelings a bit, wallow in any silence and possibly fill it to avoid discomfort.
Whatever someone says to or about you, try to sit on your hands and hold your tongue. “Don’t agree to anything, sign anything or engage in a debate over the merits of the termination right then and there,” Ms. Banks said. “There is a possibility that what you say might be construed as some kind of admission of wrongdoing.”
And, once more with feeling, transcribe as much of the conversation as you can. “Documentation is all important,” she said. “In good times and bad.”
Source: The New York Times
2. As record number of Indians head out, studying abroad is easy, landing a job not so much
It’s getting more challenging to land jobs given the slowdown in markets such as the US. Students from lower-ranked institutes and those from non-STEM (science, technology, engineering and mathematics) disciplines are likely to be the hardest hit, according to experts, but STEM students are also facing a tough environment as tech companies resort to mass layoffs.
A record number of Indian students are heading abroad — a six-year high of more than 770,000 in 2022, according to the latest education ministry data — but the great overseas education dream may not pan out equally well for all of them.
“Artificial demand is created by marketing campaigns that show a much rosier picture than reality. Times are changing, so people need to stay abreast of current trends in the industry,” said Adarsh Khandelwal, CEO of education services company Collegify.
Source: The Economic Times
3. Opinion: Taking Aim at Today’s IT Jobs
Today’s job market, particularly in IT, has dramatically changed due to the pandemic by creating new job dynamics such as in-person, hybrid and remote work. According to a story last spring by U.S. News and World Report, since the start of the pandemic, “The economy has 4 million more jobs than workers to fill them. Employees are quitting in large numbers. Companies are finding it hard to find workers.” In this new work environment of rising salaries and the challenge of finding the necessary employees, taking aim at the appropriate academic and professional experience required by job applicants takes on increased significance.
Some IT jobs don’t require a college degree
Keeping in mind the current work environments for IT employees, several job titles may not require the traditional bachelor’s degree. The tech website WhatIs.com last year produced a list of 10 tech jobs which fit this category, along with associated median salaries:
1. Software engineer: $109,020
2. Mobile developer: $122,956
3. Help desk analyst: $57,910
4. Cybersecurity analyst: $102,600
5. Technical writer: $78,060
6. Network engineer: $91,772
7. Systems analyst: $99,270
8. Software applications tester: $91,914
9. Web developer: $78,300
10. Digital marketer: $60,334
Corporate America has taken note that four-year degrees may not be as necessary as previously thought. Google, Apple and IBM have discontinued requiring four-year degrees, provided the employee has the necessary skills and certifications. Unemployment rates in the U.S. have been historically low over the past several years. According to the U.S. Bureau of Labor Statistics, “Both the unemployment rate, at 3.4 percent, and the number of unemployed persons, at 5.7 million, changed little in January 2023. The unemployment rate has shown little net movement since early 2022.” These particularly low unemployment rates make it difficult for corporations and higher education institutions to fill open positions.
Source: Government Technology
4. 8 signs of a toxic workplace and expert-approved tips to keep your job from destroying your well-being
A toxic workplace is any work environment where negative behaviors like bullying, manipulation, and gossip thrive. These problems often lead to stress, low productivity, and other harmful effects, according to Holly Keller, a licensed therapist in private practice.
Below, mental health professionals share some common signs of a toxic workplace, plus tips on handling the situation when you can’t make a career change.
1. You’re afraid to share your thoughts, ideas, and opinions
2. People don’t communicate clearly
3. Your boss doesn’t respect your boundaries
4. Management plays favorites
5. Your boss micromanages you
6. Your colleagues tend to shift the blame
7. There’s lots of gossip
8. Your managers have unreasonable expectations
According to a 2021 study, toxic workplace behaviors like bullying and harassment can lead to:
- Increased stress
- Burnout
- Emotional exhaustion
- Depression
- Anxiety
- Insomnia
According to Keller, these effects can spill over into your relationships outside of work. For instance, you may find your job-induced depression hinders your sex drive, or that you take your frustration from work out on a spouse.
Additionally, a review found that stress plays a major role in driving addiction. Hanlon says it’s not uncommon to use alcohol, drugs, stress eating, or other harmful behaviors to cope with negative emotions relating to your job. If your job becomes particularly stressful and overwhelming, you may find it difficult to manage these behaviors.
Source: Insider
5. Pharmacists Are Moderately Satisfied With Compensation, Slightly Less With Overall Job, Survey Shows
Pharmacists are moderately happy with both their compensation and jobs, according to the results of the 2022 Pharmacy Times® Salary and Job Satisfaction Survey.
When the respondents were asked to rank how satisfied they were with their current annual total compensation on a scale of 1 to 7 (1 being “not at all” and 7 being “extremely”), the average response of the 150 responding pharmacists was 4.15. These results show a slight decrease in satisfaction compared with the 2021 survey, which found an average response of 4.41.
Of 149 respondents, 53.7% said they had received additional compensation, such as bonuses or profit sharing in the past year, compared with 45.6% who said they had not. By comparison, just 28.9% of respondents said they had received bonuses or profit sharing during their first year after graduating from pharmacy school. When participants were asked to rank their satisfaction with their compensation during their first year after pharmacy school on a scale of 1 to 7, the average response was 4.22.
Compensation is also a significant driver of job satisfaction. Interestingly, 11.2% of respondents chose compensation as a significant driver of dissatisfaction in their job. Other choices for dissatisfaction included workload (35.3%), struggle of balancing work and personal life (24.7%), and management at their workplace (11.8%). However, other respondents said their compensation is 1 of the top 3 reasons they are satisfied with their work. When asked to choose their top 3 drivers of job satisfaction, 16.3% chose compensation. Other significant drivers included pride in what they do (16.3%), autonomy (12.0%), and colleagues (10.2%).
Source: Pharmacy Times
