Say Goodbye to Retrenchment Blues

You are bombarded with news of companies cutting costs, slashing jobs and implementing dire measures just to stay afloat and be profitable. This subject has gained a perennial presence in all forms of media. Stable and profitable companies once held in high regard suddenly crumble or stand on shaky ground. In the eventuality that the company you work for implements drastic cost-reduction moves and you get hit, here’s a rundown of practical tips in coping with the situation. These pointers have served me well at a time when I was out of job due to company’s closure.

1. Get hold of your emotions. Normally, when faced with stressful, life-changing situation, a person goes through 5 emotional states: denial and isolation, anger, bargaining, depression and acceptance. We all react differently to stimulus. With the sudden loss of employment, you may find yourself in a prolonged state of denial and disbelief or you may bounce back quickly depending on your physical makeup.  Remember that it’s okay to cry, get angry, be confused but don’t let your emotions stall you from seeing a seeing a clear picture of the situation.  Pull yourself together. The sooner you do this, the more you will be surprised to discover that you are made of a tougher stuff than you think.

2. Assess the situation and plan your next move.  As soon as emotions are kept at bay, you become more objective and better able to assess what needs to be done. Carefully examine the resources you have at hand. Do you have enough to tide you over the next few months to a year before finding another job? Or, do you want to seek other opportunities as soon as possible? Taking into account your responsibilities with spouse or family, do your finances allow you to take a breather and relax for a while?  Whatever it is that you decide, it must be borne out of deliberation and planning.

3. Nurture your other passions. With time on your side, engage in activities that nurture your soul and boost your self-esteem.  If you were disgruntled with your previous job and felt like you were stuck in a rut, maybe getting laid-off was a blessing in disguise. It maybe a wakeup call for you to pursue something that you really wanted to do in the first place. A friend I knew who wanted to set up his own business was only able to do so after the company he was working for folded up.

4. Upgrade your skills. It always pays to keep yourself updated on the latest tools and practices in the industry where you are working. If you are eager to venture into a field other than the one you are experienced with, training is a good option. It prepares you for the challenges that lie ahead.

5. Surround yourself with positive influences. Seek the company of family members and friends who thoroughly understand your situation to lift your sagging spirit. If you have friends who have a similar experience and who have bounced back positively, take time to hear their stories. Realize that a global financial crisis exists and with billions of people around the world, you are not alone in your fate. A lot out there share the same story, some even worse.

6. Believe that life will be better. No matter how difficult or unpleasant the situation may be, it will change. Do not worry too much about what lies ahead. As certain as night turns into day, resolutions will come. Your faith in a Higher, Omnipotent being will buoy you up in this difficult time. Draw strength from the wellspring of faith.

Years later, you can always look back at the experience and realize how it has made you stronger as a person. What was once a difficult phase will be viewed in a positive light, replete with wisdom from lessons learned. And you’d be glad you have stood proud and firm to weather the storm.