You Could Lose Your Job Anytime: Here’s How to Prepare for An Impending Job Termination

Your job may seem secure at the moment but it is wise to always be prepared for eventualities. The tough economic conditions in the country mean that companies and organizations can reduce their staff strength without warning in order to shore up profit and stay afloat.

This month alone Wahum Packaging Ltd sacked over 40 employees just few days after recalling about 200 workers it had earlier disengaged. Aero Contractors just recently was struggling with the issue of laying off some of its staff. Banks and financial institutions at one time or the other lay off several of their employees. While people get hired others are getting fired. It’s a reoccurring phenomenon and you will do well to be prepared for the unforeseen

Here’s what to do to prepare for any pending or unforeseen disengagement. You may be aware of an impending sack at your workplace or there are no signs of getting sacked. Whatever your situation be prepared with these tips

Get Your Finances in Order

Many high earning professionals and employees make the mistake of thinking the fat pay check will never cease coming. Nothing can be farther from the truth. The earlier you strategise and setup up a bump account for saving a sizeable percentage of your paycheck the better for you. This bump account can be used for raising funds to be invested in as many diverse, low risk and reasonable yielding investments as possible.

That way you will ensure that you never run the risk of going hungry if the unexpected happens.

Be Active in Industry Networking

That you have a job now doesn’t mean you let all your contacts rust. Keep your networking engines running and warm. If something happens at the office tomorrow and you find yourself out of work you could easily get a new job if you have been cultivating your connections and keeping in touch with successful and senior colleagues in the industry.

An example is a HR professional that got disengaged as his company tried to cut costs and was almost immediately offered a job by another smaller but quickly growing firm. The new job came courtesy of a contact who recommended him for a newly created position in the second company

Update and Improve Yourself

Constantly keeping yourself abreast of innovations and developments in your industry is a good way to give yourself a chance of getting back easily in the game if for any reason you get sacked in the future.

Can You Read the Handwriting on the Wall?

Lastly there are several reasons why you could be sacked at work aside from the usual issue of cost-cutting and downsizing by your employer. It will pay to know and recognize the signs before the start occurring. These list of signs show what you should probably know and look out for.

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You Could Lose Your Job Anytime: Here’s How to Prepare for An Impending Job Termination by

About Paul

Paul Eze is the Co-founder and CEO at NGCareers. He is an avid writer. Connect with Paul on Twitter

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