Do not trust your employer when they say that you do not have to worry about losing your job. Many companies have been telling their employees that their jobs are safe right before they deliver them a pink slip. The most important piece of financial prosperity we have is our income. And, no one cares more about your financial wellbeing than you. So, even if you think that your job is safe, it may not be.
Do not trust what your bosses or company executives say. Like the old saying goes, “Actions speak louder than words!” What is your company doing? Are they giving off signs that they are in trouble?
Here is a list of warning signs that your job is in trouble….
- Anxious looking bosses
- A lot of closed door meetings
- Loss of business that is not replaced
- Broken or worn out equipment is not replaced
- Normal maintenance on equipment or buildings is postponed
- Hiring freezes are put in place
So, what should you do if you are worried about being laid off?
- Start socking away as much money in an emergency fund as you can.
- Cut back on your expenses so you can save more.
- Polish your resume.
- Start making contacts and networking with long forgotten friends and past coworkers. Maybe you need to get back into your industry association if you need help finding a job soon.
- Communicate with your spouse and family about your fears so everyone is on the same page of the playbook and has the same game plan.
Did I miss any? Do you have any other tips or warning signs to share? Please leave a comment below…
FYI….For over 100 years, American workers have lived in fear of receiving a pink slip, but over the years the reason for the notice’s color has faded from our collective memory. Henry Ford’s supervisors used to put pink slips of paper in workers’ cubby holes if they were fired for poor performance. Others think that they color was to enable employees to quickly see the notice of termination in their weekly pay envelopes. Since most Americans now get paid by direct deposit, the old saying lives on in American lore as just that…an old saying.