The good financial news at Mentor was a profit for the quarter. The bad news was that layoffs are coming caused by a decrease in both revenues and profits.
Here are some tips to Mentor and other EDA employees on staying employed:
1) Don’t be the squeaky wheel, they get placed on the layoff list. Instead, be the one who volunteers for more projects.
2) Align yourself with product groups that are growing in sales, not groups that are declining. Keep networked within the company and position yourself as a capable contributor, be interested in other groups and ideas. Make a transfer before it’s too late.
3) Reinvent yourself. Have a goal of continual education. Take opportunities to attend classes offered by your company, even invest outside of the company for classes that improve your skills and experience. Join industry organizations, volunteer.
4) Make your contributions known to your direct manager and one level above that. Don’t assume that your manager is remembering to promote your value to their manager.
5) Try social networking in your industry. LinkedIn.com and Plaxo are two popular groups with an emphasis on keeping in touch with business associates, former classmates, and even your customers. Find out if your company frowns on you using this type of networking during business hours.
6) Find a Mentor within your company that believes in you and is willing to provide direction, support and ideas on how to improve your career path.
All the best to you in keeping employed in EDA for 2009 and beyond.
Daniel: we see a lot of involuntary entrepreneurs at our Bootstrappers Breakfasts http://www.bootstrappersbreakfast.com/ these days in Silicon Valley. I think you’ve made some great suggestions here that are focused on keeping a job, let me add a few that don’t work against keeping a current job but may help prepare someone for unemployed life.
1. LinkedIn is a great idea, in particular offer endorsements and ask for them from appropriate folks (this may be two different groups) so that they are dated now and not after a layoff.
2. Cut your spending now. The best case is reduced work weeks and lower salary, the worst is a severance package and an uncertain amount of time until your next regular paycheck.
3. Get your financial house in order now, while you still have a paycheck to qualify for a refinancing or consolidation loan.
4. Make a backup of all of the contact information that you will need to reconnect with folks who may be able to help you find a job or a consulting assignment. Don’t take anything that’s not yours, but don’t assume you will have any access to your company PC or other files after a layoff, or that you will get any warning. Do this once now.
5. Establish another Internet connection and E-Mail address now that are distinct from your employer’s. Any job search will rely on the Internet for a significant amount of information, as well as preparation and follow up for interviews. Move any personal subscriptions or personal e-mail to this new alias now, once you are laid off you may not be able to access your e-mail account to reset a subscription.
Great suggestions Daniel and Sean.
Another place to put on the “go to” list is Xuropa: http://www.xuropa.com
1. Polish your verification skills in a Cadence Verification IP Online Lab. Keep relevant and keep learning.
2. Check out the jobs board in the Career Center. Know what’s out there.
3. Explore the different domain areas within the Community and connect with people that you may be able to help (it’s often easier to ask for help once you’ve given it).
4. Import your profile from LinkedIn – the more places you’re visible in the better.
5. Add specific electronic design Skills and Specializations to your Profile – recruiters will then know exactly what you have to offer to their clients.
Good luck!