The recent economic situation brought forward a stark reality that was seldom seen before by the business world at such an intensity and quantity – layoffs.
While most companies consider layoffs to be the last possible scenario to turn the tide around, it is quite possible that some employees in particular companies be laid off in an unethical or even illegal way.
Therefore, it is important for every employee to know their layoff rights and have information about the various layoff laws.
Employee layoffs are not a pleasant situation for either employee or the employer.
The employee stands to lose their job, while the employer is trying to cut their losses on the investment that they made on the employee – right from hiring them to training them to be perfect performers for the company.
Layoff laws and rights may vary from state to state.
However, every self-respecting employee should ensure that they are not being fooled, and that the employer is not taking an undue advantage of the situation.
How to survive a layoff?
Here are some general layoff rights and tips for employees that you should keep in mind:
Reason for the layoff
While going through a layoff process, the company should schedule a meeting with you to give a realistic and practical reason for the layoff.
Make sure that this layoff meeting and the employee layoff letter is drafted in a concise and complete manner, and there is nothing slipshod about it.
Read the Contract
When a person agrees to work for a company, they are basically rendering their services to the company for various remunerations – financial and others. This commitment is based on a contract, which an employee signs after s/he has completed the probation period.
In actuality, the probation period is the only period in an employee’s career when they can be sacked without any prior notice and any remuneration.
It is very important to read the contract that you’ve signed with the company.
Did you get an advance notice of layoff? Typically, the employee is eligible either for a notice of two weeks or one month or one month’s salary, before they have to leave their job.
Does the Contract Speak of a Severance Package?
Another important aspect that you should keep in mind is the severance package.
A severance package is an amount that the employee is supposed to get over and above their salary and any other benefits.
A severance package does not exist in several countries, and it depends on the companies whether they wish to provide their employees with a severance package in the case of a layoff or not.
Look for the Benefits
Whenever you get employed, there are some benefits that the job provides.
They may be medical, legal, such as – vacation and sick days, Health Insurance or an immediate final pay (after layoff).
Also, you have to remember that a layoff is quite different from a typical sacking or even the scenario where the employee is leaving the company. If the employee is leaving the company, he or she has to give a week, two weeks or even a month notice, or they are not paid their salary for the last month that they have worked for.
Look for Alternate Postings
Some amongst us will be fortunate enough to work in a company which does not sack or layoff an employee completely, but basically offers them a position either in another profit-making department of their company or a sister company.
In some cases, this is listed in the contract or you may ask for that alternate posting. Make sure that the company adheres to all the commitments that they promise in their contract.
These are just the professional aspects that you should keep in mind while handling a layoff.
Coping with this layoff situation
However, you would also need to carry out several actions on a personal level, so that you can cope with a layoff. Here are just some of these surviving tips:
Make a SWOT Analysis
When you are laid off, you have a lot of time in your hands. Use time as a resource and you will come back as a winner. Make a Strengths, Weaknesses, Opportunities and Threats analysis of yourself, and you will be better equipped to face the brand new world.
Further reading: Coping With Getting fired From a Job.
Take Stock of your Life
A layoff can be a pretty depressing scenario for anyone. It is very important that you should keep up your spirits during such a time.
The first step that you should take is to take a stock of your life and find out the positive as well as the negative aspects of your life. Try to take a look at your achievements and ambitions, and where you stand in life in that aspect.
Read also: Surviving layoff Depression: Coping with Job Loss Depression.
