10 Ways to Avoid -and Prepare for- the Pink Slip Job Security a Growing Concern Among Employees, According to Vault Poll.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 17, 2001

Employees are increasingly worried about job security. According to a Vault poll conducted this week, 23% of 446 respondents told Vault, the Insider Career Network(TM), that they have been laid off from their company this year, with another 20% updating their resume in the likelihood that they would be fired.

According to Vault co-founder and career expert Mark Oldman, there are steps that employees can take to avoid or prepare for the dreaded pink slip. "First of all don't panic," Oldman advises. "If you're a valued employee with a proven track record, chances are you will be fine. But even the most qualified employees can find themselves without a job in a slowing economy, so my advice is to always prepare for the worst."

In order to ensure the best outcome in any scenario, Vault has created the following list of career tips:

1. Demonstrate your workplace successes to superiors. Keep proof

of accomplishments and your value to company. Don't be modest.

2. Volunteer for extra projects and special assignments. Build

experience. Your actions must remind your boss that you have

"fire in your belly."

3. Make sure your skills are marketable and versatile. Learn new

skills that make you invaluable, such as html and basic

accounting. Consider enrolling in night classes.

4. Update your resume. Play up your key accomplishments. And make

the resume e-mail friendly by using little or no formatting.

5. Become a "passive job seeker" by adding your resume to online

resume databases. If employers like your experience and

credentials, they'll e-mail you.

6. Build an emergency nest egg. Set aside several months of

salary to provide a cushion in the event of an unexpected

layoff.

7. Determine your market value by investigating similar jobs and

salary tables at places like Salary.com and Vault.com's Am I

Worthy? service.

8. Research potential employers by sifting through online company

profiles at places like Vault.com and Hoovers.com. Scrutinize

each company's management team and business model.

9. Use online chat rooms and message boards to network with

potential employers and industry insiders. The anonymity of

the Internet allows you to ask candid questions about salary

and company culture.

10. Finally, gain a sense of perspective. Even the most talented

employees sometimes get laid off. Don't take job cuts

personally. Get back out there and find a better job!

About Vault, Inc.

Vault, Inc. is a leading new media company focused on careers, the workplace and jobs. Vault's primary offering is an online resource, www.vault.com, which offers detailed "insider" information on over 3,000 companies and 70 industries as well as the much-praised Electronic WaterCooler(TM), the Internet's first-ever network of expert-moderated message boards for professionals. Offline, Vault offers nine nationally distributed print books, a syndicated newspaper column, and networking events on career and HR issues. For hiring managers and recruiters, Vault operates EmployerVault(TM), a comprehensive online resource featuring top-quality HR content, message boards, job listings, a resume database, and a one-click job posting service that allows users to post on multiple job boards with one account. Vault was founded in 1997 by Hussam Hamadeh, Samer Hamadeh, and Mark Oldman, together recently named to the "Silicon Alley 100: New York's 100 Most Influential Internet Executives." The company's investors include Hollinger Capital, The Kuwait Fund, New York Investment Fund, American Lawyer Media, Ingram Book Group, DB Alex Brown, Globix, and angel investor and Esther Dyson.