2008 has been a challenging year for business in some industries, particularly the financial sector. Many companies have undergone considerable change; they’ve taken a different course, merged with a similar entity and, in some cases, discontinued operations. 

Workers are understandably nervous in these times, since the future of their company, their department and their job is unclear. 

In times of uncertainty, how do you proceed? How do you handle losing a job or getting laid off? And how do you dust yourself off and proceed from there?

BEFORE THE STORM

If you suspect that a merger, downsizing or marketplace exit is a possibility for your company, there are several steps you should take.

Put a shine on your resume. If it’s been a few years since you last took a look at your resume, take a look at its content. Compare it to your current job description, and make sure that any important new tasks or responsibilities you now perform are included.

If you’re adding a lot of new information or important accomplishments from your most recent job, be sure to edit older information. You may need to streamline some of the entries from earlier jobs, particularly if they don’t apply to your current field.

Keep the lines of communication open. The best approach for any worker to ensure continued career growth is to consistently network with internal and external contacts all through the lifespan of your job. If you’re starting to focus your networking approach when you’re on your way out or when you need a favor, it’s too late.

Take advantage of collaborations on any projects or any other open channels of communication, to reach out to other departments in your company. This will be beneficial if your company closes your department; you’ll then have a contact in another area, and that might lead to an opportunity to work in that department (and stay with the company).

Take physical inventory. You should take a look at your desk and take stock of its contents. Is there anything there that you’ve brought in from home with great sentimental value? You may want to consider taking a few of those items home.

This would also be an ideal time to take any documents regarding your time at the company and career performance home for safekeeping. Annual reviews are at the top of the document checklist, but you may also want to look for pertinent benefit information and other HR-related documents.

You may also be able to take samples of your work with you, but you may want to consult your company’s handbook first or review any agreements you may have signed about ownership or copyright.

Part II of this series will be featured here tomorrow. For an overview of what’s happening on Wall Street, the New York Times has a high-level overview of the situation here.