from Hacker News

Ask HN: How to Hedge for Layoff Risks?

by jcutrell on 1/14/24, 4:18 PM with 5 comments

Hi folks. A lot of people are experiencing layoffs. It seems the new approach from companies is to do some form of top grading or broad performance-justified cuts.

While we can't control the macro climate, what do you all suggest for people who have not yet been laid off, but want to prepare as much as possible for that potential?

Some things that make sense to me: - Hold on to as much cash as possible - Start sending resumés proactively - Learn what you can about the decisions being made to determine if you think you could be at risk

What else?

  • by roguecoder on 1/15/24, 8:06 PM

    Prioritize some work you can tell good stories about in behavioral interviews.

    If you have a conflict with a coworker, for example, that's something you will be asked about. Instead of avoiding it or getting louder about what you think, get together and see if you can learn what they value that it leading them to their conclusions. Echo back to them what you think it is until they feel like they've been seen and understood. Maybe invite them to collaborate on an experiment so the decision can be based on data instead of speculation, or reach out for coaching from someone you respect. Find boundaries that let you determine how you will behave, rather than trying to get someone else to behave the way you want them to. Or whatever other features of your conflict-resolution skills you want to practice.

    "Technical decision making" is another common one: look for a place where there is more than one option, and figure out how to efficiently and effectively lead the team to consensus on a solution.

    "Tell me about a time you saw a problem and were able to make it better" is another I've seen. Take up a thing you think your team could use more of, like tests or documentation or alerting or retros, and figure out what is making that hard to get done (one easy trick: try doing it. See what stops you.) Figure out who you need to get on board with trying something different.

    If you can't get those experiences in your current role, consider finding a non-profit that needs some coding where you could have more autonomy & getting permission from your current employer to do some work there (on your personal equipment.)

  • by caprock on 1/14/24, 5:01 PM

    > What else?

    Highlight your value and especially the diversity of your skills to your employer, to help maximize the possibility of being kept when layoffs happen.

    Then, remember all this in the future and manage money so you always retain some leverage. Be the ant more than the grasshopper.

  • by reacharavindh on 1/14/24, 6:45 PM

    The climate of layoffs has sent some jolt to my mind that I started building up my emergency nest that was ignored for too long.

    Hopefully, I can build it to a comfortable state before I need it in the future. If I’m lucky and I didn’t need to dip into it, then it cushions the retirement times, whenever that is..

    Another thought in my mind is slowly nurturing other things I can do on the side such that it can be a lower paying but more satisfying job when I can afford to make the switch.

  • by alpenbazi on 1/14/24, 4:28 PM

    save money and plant backdoors

    (1st is OK, 2nd depends on your moral)