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Pink Slip, What Next ?

High volatility in the market situation forces the companies to amend its short term policies to accommodate the changes so as to ensure the survival and success of their business. With a huge investment made in manpower, these changes have a great impact on the human resource policies of the company. The slump of 1990s saw many people jobless. The people are dismissed on account of their poor performance or to reduce the costs to companies. Pink slip is the letter of dismissal given by the company to its employees on account of unsatisfactory individual performance or the downward trend in the general market conditions. The online dictionary defines pink slip as the “notice of dismissal from one’s job”.

The slump and the job expulsions seen a few years back must make one aware of the fact that jobs are short lived. A company policy or the economy can force the employee to leave his job at any time. When the market conditions have a huge impact on the earnings of the company, it can lead to instant dismissal no matter how well the performance of the individual was. On the receipt of the pink slip, one should evaluate the reasons behind it. If the dismissal was on account of bad performance, the individual should conduct a self analysis and scrutinise one’s flaws. Approaching the supervisor and evaluating the reasons for the dismissal could help in having a clear cut idea of one’s strengths and weaknesses. Before looking out for another job, one should take measures to overcome the drawbacks to avoid a similar situation later.

On the receipt of the pink slip, evaluate the financial position to keep check over the expenses until one gets hold of a job. A few companies have the policy of redeeming the loss of pay on account of layoff through a single lump sum payment of the next few months’ salary. The employee should evaluate the company policy to understand how the financials would fair in the next few months until the next job.

The employee should consider the dismissal as a door for exploring new opportunities. The time in between must be utilised to make one marketable. The employee can take up further studies to enhance the existing skills and become more competent. He can also explore new lines of business for which he has special skills. If the dismissal was on account of incompetence, the individual must take great pains to overcome the ineptness before looking out for another job.

In the meantime, the employee must draft different resume for different jobs highlighting those skills which he has gained over the years and which are required for the job in hand. Networking is a great way to recognise the various openings in different entities and to know the type job involved. The professional and personal networks can aid the discharged employee to get a job easier and quicker.

Maintaining a positive attitude is inevitable during this whole process. With the market conditions highly unpredictable, the employee must always update his resume throughout his career and acquire new skills so as to make him highly employable in any entity at any point of time. To quote Nick Saban, “What happened yesterday is history. What happens tomorrow is a mystery. What we do today makes a difference – the precious present moment”.

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