- On May 7, 2020
COVID has stalled the domestic and global economy, resulting in mass layoffs everywhere, but women and people of color have been hit the hardest. The Harvard Business Review and LinkedIn’s GetHired column report:
- March unemployment figures show overall unemployment increased by 26%, but that number is an eye-popping 64% for Asian Americans and 36% for LatinX. Also, the unemployment rate increased by 21% for men, but 29% for women.
- HBR posits “women and minorities are in greater danger of losing their jobs in troubled times not only because they work in high-layoff-risk industries but also because most companies reflexively put them at the top of their layoff lists.” Disproportionate impact occurs if a company cuts by tenure (first in/last out) or by a certain level or function (which is often populated by diverse people).
How should you protect yourself? Three tips from LinkedIn’s GetHired column that vulnerable employees should do (meaning women and people of color, but really everyone can do this):
- Track your accomplishments throughout the year so you have metrics of success and notes of gratitude handy. That way you can easily update your resume and LinkedIn profile, and speak on them during interviews.
- Have a plan in case you part with your job on short notice. Think about potential jobs and contacts now when you have a clear head and are not under time pressure.
- Keep your network warm at all times. Stay in contact with many people in many places, not with a specific agenda but to say hello and offer support to them. You never know when you will need to call in a favor.