5 Steps to Take When Laid Off
By Jane Han
Staff Reporter
Some people can't stand the uncertainty these days, with the entire economy sputtering and the threat of layoffs hanging over their heads. But instead of panicking, human resources expert Charlie Kim says keep your cool and be prepared for the worst-case scenario.
``Employees oftentimes end up getting laid off without knowing their basic compensation rights because they are emotionally overwhelmed, but keeping a clear and rational mind is critical,'' Kim, the representative director of Hay Group, a global human resources consulting firm, said in an interview.
He offered five post-layoff survival tips that could help employees get back on their feet.
1. Know the rules.
The Korean labor law is favorable to employees, says Kim, but workers don't take advantage of their rights due to a lack of knowledge.
He said understanding the country's labor law, the company's rules of employment and employees' collective agreement with the management are the first place to begin because workers need to know what they're entitled to before taking action.
2. Ask for better severance.
Don't just take what employers offer, said Kim, who explains that a person who has been with a company for a long time with a good track record may be able to negotiate a better package.
``This is why workers need to put aside emotion,'' he said, adding that they need to think carefully about practical questions that need to be addressed immediately. ``Go into problem-solving mode.''
3. Edit your resume, prepare for interviews.
Kim says long-time professionals often haven't touched their resumes for years, so they need to make updates to accurately reflect their past experience.
``A resume tells your story, so it's essential that the piece is written to perfection,'' he said, adding that job seekers shouldn't be lazy with interview preparations. ``Prepare a three-minute, five-minute and even a 20-minute self-introduction. Think details.''
4. Seek aggressively.
Relying on networking isn't good enough, says Kim, who advises that job seekers use every possible channel they can to get their names on the job market. Online job portals and search firms were some examples he named.
Kim said those laid off should lower their expectations, as ``just because they worked for Samsung before doesn't mean they're going to work for Samsung again.''
5. Be patient.
A job search can take six months to a year in today's economic climate, says Kim, who emphasizes that employers are going to take their time to pick and choose whoever they need.
He said that the job market probably won't recover until the start of 2010.