To survive in the highly volatile and competitive market, the company must maximize the wealth of its shareholders. The company policies should be so drafted and redrafted so as to accept the changes in the environment. Business enterprises aim to reap profits. The company might reduce the number of businesses, change technology, and retrench employees to be successful. These policies might end up with employees losing their jobs. Losing the job anytime is a dis-orienting and traumatic experience. The success of the individual lay in her ability to utilize this as an opportunity for furthering her individual development.

In most cases, layoffs may be due to conditions beyond our control. Recognise the warning signals and make sure to explore new opportunities before hand. If the general economy is showing a slump, competitor is laying off the employees, the financial statements are giving out warning signals, the company policies aim at extreme cost reduction measures, consider it as a forewarning to make a career move to another company.

However, individual performance could be another reason for being laid off. Poor performance, inability to work with the team, customer dissatisfaction, general behaviour and attitude, lack of advanced skills and knowledge required for the work etc may force the employer to ask the employee to quit the job. In such a situation, conduct a self assessment to recognize the key responsible factors and take aggressive measures to identify and overcome them for personal growth and achievement. In such a situation, employers provide ample warning to the employees before removing them from the job. If the opportunity to rectify the predicament is not seized, it will result in losing of the job.

On losing the job, identify the skills and prepare for a career change with more responsibilities and risks which have the potential for growth. Then create an updated resume and send them to the potential companies or reputed placement consultants. If no interview calls are received, scrutinize the CV and make the necessary modifications. In the mean time, diagnose the personal finances to have an idea on the amount of money that is in easy disposal. Make a budget of the expenses and eliminate the unnecessary ones till the receipt of the new job. Before going for an interview, brush up the key skills and conduct a self analysis for improving the personal flaws. Always keep the mind and body fit and alert and fight from the clutches of depression. Utilise this time for career planning, decide on the channels to be pursued for career growth, amount of money to be saved, renewing personal network for career development etc.

On receipt of the job, explore the possibilities within the organization and keep an open mind to take new challenges for self development. Besides, monitor the economic trends, competitive market movements, company policies and be the one to move out of the company on the signs of retrenchment. An attractive and updated resume should be always in hand. Always provide for emergency finance as the job is something that can be lost anytime. Improve the personal and professional skills by attending the professional associations and utilize it for creating a healthy network.

One can lose the job anytime. Preparing oneself to it is an ongoing process. Always consider layoffs as an opportunity to explore the world with a new eye for brighter prospects.