To be ready for job loss Issue is a big concern for everyone as many developed economies expect period of recession now. So it means job cuts will continue and no one is secured from being laid off. I’ve done a research to collect most practical advices on what we should do or at least think of to get ourselves prepared for layoff. In my opinion this list is also applicable even for the most key employees who don’t even think about the probability that they can loose their job. Anyways even if you’ll never loose your job, doing these listed things would not turn out to be a lost time and effort.

1. Open an emergency saving account and set aside money from earnings to that account. It could be 5%-10% of your monthly income. E.g. if your monthly installments to that account equal to 6% of your salary, then after 3 years you will gain enough money to cover your minimum living expenses up to 4 months of jobless period.
2. Constantly update your CV so that at any point of time you’ll be able to provide most updated version of your CV. It’s also advised to have even several variants of your CV, each one made for different industries or positions at which you consider yourself to be well qualifed. Differences between those CVc will be that each one should point out those of your skills and experience which are relevant to particular industry or position.
3. Most of business contacts are acquired while working. And usually all that contact data are usually stored at work computer. Therefore, always save your contacts list somewhere else except your work computer. Do regular backups and copy them out to USB stick or upload to some personal email address if available.
4. Having friends at work is fine, but all friends definitely should not be only ones whom you working together. So, try to add expand your friends network among non-collegues.
5. Look for chances to obtain some additional qualification, certificates. There are lots of online certifications available online – so having them will definitely add some value to your resume.
6. Consider purchasing insurance police covering unemployment. Make brief research of your local market for such products of Insurance companies.
7. Get credit card with lower interest rate while you’re working. It will provide some support base for you. Once you lose your job, rare bank will issue any credit card to you.
8. Register with some business social networks like LinkedIn. It can serve you better than any recruiter in the field, once you get in-touch with lots of good contacts.