Q3: Company Layoffs

In the business world, companies are entering the third quarter. This means that the end of the year is coming up. Why is this so important? Well it is important because between Q2 and Q3, companies begin to  lay employees off. They have to meet their budgets and ROI prior to the end of Q4. Therefore, companies will begin go cut heads from the top and the bottom. The top means the employees who earn very high salaries. The bottom are the perceived as the "dead weight" of the organization, or the individuals who do the bare minimum to get a pay check. If you are part of any of these two groups then be aware.
Generally, after the first quarter, if companies cannot downsize on their budgets in other ways such as cutting costs on additional resources (i.e. paid interns, paid temps, supplies, etc) then they will begin to target individuals who are at the top and near retirement or the bottom. So if you are at the top, begin by keep your eyes and ears open! The reason  I say this is because companies cannot afford to pay your retirement! It is cheaper for a large corporation to give you a layoff package (even if it means paying you an additional year's worth of salary as part of the layoff package) then to keep you around. Also, begin to check career websites to see if your position is posted. Nevertheless, it is always better to be careful.

Now if you are at the bottom of the totem poll and work without motivation, always complaining, do not go the extra mile, then you could possibly be laid off. Your package will not be as nice as the guys on top. Why? Well the individuals at the bottom of the totem poll generally make the bare minimum, however, they can hire someone for the same price and get twice as much work out of them. Therefore, as mentioned in my previous articles, always remember to volunteer to help your colleagues/managers, remain positive, and cross train. These three elements will make you stand out and help you secure your seat in the company! Remember hard work pays off, but it must be done sincerely and with integrity!

Posted on behalf of Group Whynot.