Survival Strategies for Downsizing

When I mention downsizing to my colleagues, many of them roll their eyes or shake in fear. That may be the reason companies will sometimes call it something else such as, restructuring, reorganization, right-sizing, consolidation, and so on.

The psychological impact of a corporate downsizing can have a significant impact on employees because it immediately suggests the worst-case scenario, or as I like to call it the “nuclear option.” It creates fear that they will lose their job, lose their house, lose the cars, and starve. Their personal ego is telling them that their reason for living is being extinguished. Those feelings and emotions jump out even before they know whether they will be affected or not. Even if they keep their job, they know that the workload won’t reduce, but with fewer people to perform the tasks, the burden on each retained employee will be greater.

I do not want to downplay the stress and anxiety that comes with a company downsizing. It is painful, whether it is your job or that of a friend of yours.

So, whenever human beings experience a crisis, we all jump into action. Many times, that action is standing around and talking about the upcoming reorganization rather than being productive and focusing on the tasks at hand. Some individuals will quietly go about their business and “hide” in plan sight hoping they don’t get chosen for the new adventure of leaving while others will loudly complain to anyone willing to listen that it’s not fair, we are understaffed already, and the restructuring will only make matters worse.

Regardless of the approach that they use, few people see the benefit of a downsizing or reorganization.

I have been through many restructurings, mergers, acquisitions, reorganizations, and downsizing. I learned some very valuable lessons from them.

First, reorganizations create many new opportunities that were not available before. Secondly, it will be easier to take advantage of those new opportunities because most people are either complaining around the watercooler or hiding under their desks or updating their resumes. Third, rarely does it happen without clues ahead of time that change is coming, and you can begin before others know what is happening by adding more value or building skills that will be valuable in the new structure.

My Advice is two-fold

1. Seek out ways to help your manager add more value to the company now. Getting more visibility is a positive thing and will only help you in the long run. Perhaps it’s volunteering for an assignment or project.

2. Consider this as the perfect time to re-evaluate what you really want to do in your career and what skills you are excited to use every day. It may be the right time to leave your organization for something better to switch to a new department. Many downsizing plans include some form of severance pay and give you outplacement assistance as well. If you are in a role that is not satisfying, or you are no longer utilizing your strengths, perhaps it is time to look for greener pastures. If that is the case, consider all your options. The freedom of not having a job allows you to re-evaluate your skills, interests, and passions. Maybe you should go back to school and become that chef you always wanted to be or start an online business that you never had the time to begin. There are many opportunities that await you, you simply need to decide what you want.

If you would like some help, reach out to me and I’m happy to have a 30-minute call to help you identify your best options. You can schedule a call with me (614) 338-5232 or contact me at info@stevekarski.com.