Can you foresee oncoming layoffs? Of course, but it takes efforts. I have been discussing this for a long time in my exec-ed classes. Here’s the gist.
Everybody gets fired! Well, almost everybody. But why? There is a multitude of reasons – technological evolution, M&A, management/ownership changes, demand fluctuations, and recessions among others. One way to foresee oncoming layoffs? Avoid complacency! Don’t get comfortable with mindless repetition. Autopilot kills progress. Most of us are creatures of comfort, not curiosity — unless we train ourselves otherwise. Remember ‘Fatal Euphoria?’
Begin by asking yourself why you shouldn’t be fired today. Why should the company continue your employment? If you were to leave, how would it impact the company? Are you well known in the industry trade groups? Because, employers ask these questions often. If you can’t honestly justify your paycheck, be ready to be fired. Because if you need your employer more than your employer needs you, you are in danger.
Other question to ask: am I given mission critical projects? if you are sidelined often, you are most likely in the firing line. If you are not learning anything new, you have an important decision to make even if your position appears to be safe. Because with tech evolution (AI?), you may not be replaced by someone else, but the job itself may vanish.
One more question to ask is this. Are you in a profit center or cost center? If you don’t contribute directly to bottom line or the topline in the balance sheet, you need the company more than it does you. And, that’s not a good position to be in!
Another question to ask is, “Do I have exclusive trade secrets/proprietary information that offer job security?” If the answer is “none,” you are in danger zone!
If you introspect this way, when you hear “you are fired!” you will rejoice, not despair. If you are a fresher, this post is just a FYI. But then, some freshers launch startups that are valued at Billions of dollars. Nowadays, it’s hard to generalize.
