For those involved with institutions providing higher education to students, one common concern is to prepare the students for potential layoffs in the future. Even if someone has a secure job in a reasonably stable industry, the risk of a layoff is something that can’t be ruled out.
Economic slowdown, increasing competition, or a natural disaster like the COVID-19 pandemic can lead to unexpected layoffs through no fault of the employees.
According to a report by Challenger, Gray, & Christmas, Inc., around 3,22,000 people in the US lost their jobs in 2021, and an estimated 180,000 people became unemployed in the first half of 2022. Therefore, students must be prepared to face potential layoffs in the future.
How to Prepare Your Students against Future Layoffs
As an educator, there are several ways you can prepare your students to be ready to face layoffs if they should happen. Here are 8 effective strategies to help your students.
1. Educate Them About Their Rights
Every country has its own employment laws that students should be aware of before joining the workforce.
Ensure that students are aware of how unemployment works, whether they will qualify for severance pay, and what severance benefits they would be eligible for if they are laid off.
Before signing any employment contract, they should read everything thoroughly and familiarize themselves with the company’s policies. If they have any queries, then they should consult an employment attorney.
2. Help Them Develop Strong Work Ethics
Often, employees who lag behind in performance are the first ones to be laid off. To avoid this from happening, help your students develop strong work ethics.
Teach them how to work smart and improve their productivity. There are several ways of boosting productivity that you can familiarize them with. One simple way is to focus on one task at a time instead of trying to multitask.
Giving your 100% attention to a single task at a time makes you more efficient in managing your workload.
3. Encourage Them to Update Their Resume Regularly
In general, people with stable employment simply file away their resumes and don’t update them for years at a stretch.
However, it is recommended to periodically review and update one’s resume so that one can immediately start searching for a new job in case they are laid off.
It is also a good idea to get your resume prepared by a professional resume writer so that it stands out from the others while looking for a job.
4. Teach Them the Importance of Networking
When it comes to searching for a new job after a layoff, the importance of having a well-connected professional network shouldn’t be underestimated.
Encourage the students to focus on building professional networks right from the beginning. Even if someone has a stable job and has no intention of looking for a new one anytime soon, it is a good idea to be part of active professional networks.
Tell your students to stay connected with former managers, colleagues, clients, and friends to stay abreast of any new job opportunities.
5. Help Them Understand Their True Value
Employees often settle for less than they deserve because of low self-confidence and a lack of belief in their capabilities.
Empower your students so that they realize their true worth in the workplace. Encourage them to perform a self-assessment of their accomplishments and skills and how they add value to the organization they work for.
There are many online programs available that they can enroll in to upgrade their skills and learn new skills that would make them better at their job.
6. Prepare an Emergency Fund
Since every employee faces the risk of a layoff, it is a good idea to start preparing an emergency fund as soon as one starts working. Having a financial safety net can help you feel secure for at least a few months in case of a layoff.
Save enough money to cover at least three to six months of expenses. Make a list of family members and friends who might help you in case of a medical emergency. Having a backup plan in place helps deal with uncertain situations that might occur in the future.
7. Motivate Them to Upgrade Their Skillsets
Education is a never-ending journey. Motivate your students to constantly upgrade their skill sets so that they stay relevant in the ever-evolving job market.
They can volunteer to take on additional projects at their workplace so that they gain some valuable experience and learn new things. They can also enroll in part-time online courses offered by universities and management institutions to update their knowledge.
Flexible e-learning programs can be done by anyone, including those holding full-time jobs.
8. Advise Them to Keep Track of Job Opportunities
People who are already in a stable job often don’t stay abreast of what is happening in the job market. However, this attitude could prove dangerous in case of a layoff.
Advise your students to track the job market regularly and keep themselves informed about new job opportunities. Besides updating their resumes, they should also monitor online job portals to understand the employment trends in their industry.
Staying updated will help them tremendously in securing a new, high-paying job if they ever get laid off. Practicing their interview skills regularly with mock online interviews is also an idea worth considering.
How Can Hurix Help You Prepare Your Students Against Future Layoffs?
When it comes to possible layoffs, it is in the best interest of your students to be prepared in advance. As an educator, it falls up to you to guide and empower them to successfully face uncertainties and future challenges.
Hurix Digital is dedicated to helping people like you design and implement intensive training programs and online education solutions for students so they are ready to face any challenging situation that arises in their professional life.
Get in touch with our experts at Hurix Digital to discuss the training and development needs of your students and come up with an effective education solution.