• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL

Chapter 11. Pink Slip Blues > What to Do BEFORE You Lose Your Job

What to Do BEFORE You Lose Your Job

If you can sense that your job is in trouble, there are few important measures to take before you're handed the pink slip, such as:

  1. Take advantage of everything your company has to offer while you still have it. That includes:

    • Health examinations for you and the family (medical, dental, and vision)

    • Professional training (workshops, conferences)

  2. Get your financial house in order.

    • Bring down your credit card balances

    • Eliminate excess spending where you can

    • Investigate where you can get funds (money, loans) if you need them

    • Make sure your pension and 401-Ks are protected (and it's all not in company stock)

    • Make sure that your life insurance benefits are protected

    • Review your benefits package and make sure the information is correct

    • Put aside some cash from your check each week

    • Consider a part-time moonlighting position

  3. Construct a plan of what you will do when the inevitable happens

    • Contact head hunters

    • Rework your resume

    • Broaden your skills with some college or professional courses

    • Go through your Rolodex and make sure you have your contacts in order

    • Network with others in the industry and learn where new opportunities exist

  4. Consider starting your own business from home

    • Research the market

    • Visit lenders (banks, venture capitalists)

    • Write a business plan

    • Visit a SCORE office for free advice from retired executives or contact a SBA office (for more information, see Appendix A).



Not a subscriber?

Start A Free Trial

  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint