Worried About Losing Your Tech Job? Pros Offer Tips for Unclear Times

With more technology companies announcing new rounds of staff reductions each week, many employees working for these once high-flying companies now fear their jobs could be at risk.

In the current environment, hundreds of tech companies are letting employees go, stock options are “underwater” (due to the bear market, especially in tech stocks), and many employees face uncertain career prospects with their current employers, let alone other potential employers.

If you’re concerned your employer may be getting ready to reduce staff and wondering if your job might end up on the chopping block, there are many things you can do now to reduce your risk and mitigate the impacts of getting let go if that risk becomes an unhappy reality.

What’s a Nervous Tech Worker to Do?

“Keep Your Powder Dry”

As my own experience showed when I lost my last salaried position, the longer your “runway” to get the next job or your first business revenue (that latter was what it ended up being for me), the less stressful it will be, and the longer you can spend searching without compromising on what you want and need.

“Sharpen the Saw”

In our current context, that means you need to keep your professional skills up to date and look for opportunities to learn and train in new (relevant) skills. In addition, take on additional roles and responsibilities at work that will make the impact of losing you worse for your employer.

Network Proactively

When I lost my job, I didn’t really know how to network effectively. I hadn’t joined any professional groups or business clubs. And even when I reached out to (dozens of) contacts, I made the mistake of concentrating on me and what I needed, rather than them and what they wanted.

Use LinkedIn Like a Pro

“A lot of networking and hiring happens on LinkedIn, and a great profile can really help you stand out if you’re looking for opportunities. Write a compelling introduction that highlights your strengths and value.

Proactive Preparation

Another tip from the above-mentioned comprehensive guide to reducing your risk of getting let go by your employer and mitigating it comes from Danielle Miura, CFP®, founder and owner of Spark Financials, who suggests, “Gather proof you were an asset to your company by making copies of samples of your work, projects that you have completed, and emails that praised you.”

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