How to Deal with Your Company's Uncertain Future

Market conditions and business realities can change in a hurry and, with it, plans for a sustained career with a specific employer.

When your company goes through rounds of layoffs or strings a few down quarters in a row, it can be difficult to stay focused on your job, especially if the rumors are flying and others around you have been laid off or are feeling pressure.

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Here are a few steps to deal with the uncertainty.

Stay informed. Be aware of the situation of your company and the state of your industry by attending company meetings, listening to calls with shareholders, or reading industry websites and magazines. The more you know about the situation the better prepared you will be to manage whatever comes. Be sure to have regular conversations with your manager or boss to discuss the specific situation your company is facing and how it might impact you and your team.

Manage stress. This is a particularly good time to practice self-care and focus on ways to feel healthier, both physically and emotionally. Eat well, reduce alcohol, eliminate unhealthy habits like smoking, sleep well, and practice meditation or yoga. The better you are at managing the stress levels in your life, the better prepared you will be for any eventuality at work.

Be prepared. It’s possible your company could file for bankruptcy, be sold, or go out of business. Any of these possibilities could lead to you losing your job. Prepare for this possibility by deepening your network of contacts, updating your resume, and becoming familiar with job search sites that will be most relevant to your work interests.

Diversify skills. The more valuable you are to the company the better your chances of remaining employed, and like the NFL, one way to increase value is to be able to play multiple positions. What that looks like in your company is specific to your work and industry, but it also means developing your soft skills, like conflict resolution or empathy, while also being a good accountant or engineer. Think about the skills and abilities your company needs to succeed and find ways to develop the skills needed to make a positive contribution.

You might not avoid a lay off or the impacts of the market on your company, but you can find ways to better position yourself for a more positive future.