Job cut, Down sizing, Employer closing down – all this affects us Financially,Physically and emotionally. Job Loss can happen not only because of external factors like sub prime leading to financial collapse of Giants in the Industry.
One may think, my job is safe and I have nothing to fear. You are lucky.
The question is what if?
One may be affected either directly or indirectly. In any case one should look at the hard realities and start acting.
Following points may help in coping:
- Talk to your Family members. Explain the situation and seek support.
- Make required adjustments in living style. Simplicity helps.
- Make a realistic assessment of your Finances. Make a Cash Flow statement for the next three to six months. Look for possible sources of Inflow of Funds and the committed out flow in the form of EMI, Housing Loan,Children fee etc.,
4. Take efforts to collect the monies others owe you.
5. Talk to creditors/lenders for a reschedule of loans.
6. Look for earning opportunity out of existing assets.
7. Re look at your net work of people. Revive contacts, seek help for gaining
employment. Ask for help, it works.
8. Ensure that you collect the amounts in the form of PF, Gratuity, Bonus,
Compensation if any from your current employer.
9. Migrate to different Industry.
10.Invest Time, Money and Energy in acquiring new job skills.
11. Keep your Health and other Insurance cover renewed.
12. Do not slacken. Be positive in your outlook, backed by solid action in the required direction.
N.Subramani
www.iching.in
