As Unisys Corporation employees face job automation and layoffs, they need to focus on one thing — building a diverse skill set and staying mentally healthy,' advises Kevin Landis, a representative of The Retirement Group at Wealth Enhancement Group. “These measures will not only help to keep the job in the present situation, but will also improve the employee’s chances of finding work in the changing job market in the future.'
'Paul Bergeron from The Retirement Group at Wealth Enhancement Group advises that Unisys Corporation employees should focus on the development of their professional careers and networking in order to be ready for the potential changes in the industry,' adding, 'It is important to build a diverse career portfolio that can survive the changes that are likely to come with automation and layoff trends.'
In this article, we will discuss:
1. The Current State of Job Security: An analysis of the rising trend of layoffs in Unisys Corporation companies and the impending threat of automation in the job market.
2. Emotional and Psychological Impacts: A discussion of the various psychological effects of job loss, according to experts.
3. Effective Coping Strategies: Some tips on how to deal with stress that comes with layoffs and how to stay strong during career changes.
According to Forbes, 'According to the Bureau of Labor Statistics, employers cut 90,309 jobs in March, the most in any month since 102,943 jobs were lost in January of last year.'
It is important for the Unisys Corporation employees to know that the employers are still firing a large number of workers.
It is predicted that 20 million manufacturing jobs will be lost to automation by 2030, and 37% of Americans are concerned about being replaced by artificial intelligence. In addition, automation may put 73 million jobs in the United States at risk by 2030, which would be almost half of the current workforce. Given this fact, the Unisys Corporation employees who are worried about their job security are not alone. About 48 percent of Americans have job loss anxiety.
In a Forbes article, Dr. Gregg Jantz, the founder of the counseling and treatment center: A Place of Hope, and the author of several best-selling books, including The Anxiety Reset Continued explained that after death, job loss is one of the most stressful events in people’s lives. 'People feel a betrayal of trust, particularly when the job loss is unexpected. It's so distressing.'
As more headlines about tech industry layoffs are making the news, it can be difficult for Unisys Corporation employees to control their emotions. Dr. Jantz said the typical response to betrayal is rage. The feeling that the employer did not respect or value you is a sense of injustice. It makes people very angry when they feel that their employer does not appreciate their efforts. You want to get your revenge, retaliation, and revenge against those you think have wronged you.
In addition, Dr. Jantz points out that “Our country is in the midst of a mental health crisis.” The most common diagnosis in the United States is anxiety, followed by depression.
When a person loses their job, these emotions increase. It is important to note that 40% of Americans have been laid off or fired at one point or another during these times. Although this may not solve your problem, you may find comfort in knowing that others have been in the same boat that you are in.
These feelings should be recognized and not acted on to your own detriment.
What Not To Do When Being Laid Off
Don't Leave Without Saving Critical Documents It is recommended to save personal or professional documents from your work computer on a regular basis.
Some employers will escort terminated employees off the premises or immediately restrict their access. It is crucial not to be left with no important information.
Don't Discuss Termination Before Taking Time to Process When you are laid off, you may feel angry and stressed.
You may have these emotions when interacting with management, which may be counterproductive to your goals. Let’s meet in two days and have this discussion. In the meantime, check on the company’s policies and practices so that if you can, you are ready to try to negotiate a reasonable severance package.
However, if you are unable to delay a decision on a severance package should it be offered, you should consider the terms and whether it is worth negotiating to obtain a more comprehensive package.
Don’t Refuse to Help With the Transition In order to ensure a smooth transition, you will be considered as a good employee and may get some references and recommendations from your superiors.
No matter what situation you are in, it will always be better for you to be nice. At the very least, you will have made an honest effort to assist your employer which may result in a positive reference.
Don't Ignore the Opportunity to Resign Sometimes, resignation might be a way out of termination.
There are advantages and disadvantages of quitting a job on your own will rather than being terminated. You may lose your unemployment benefits if you resign but sometimes you stand to gain. In any job interview, you will not be required to explain why you were fired, which can be embarrassing.
Don't Be Afraid to Request a Reference If you have good coworkers, you can ask them for a recommendation when you are still in touch with them. You can use their recommendation when you are looking for your next job.
Do Not Miss the Opportunity to Ask Why If your employer has not followed company policy on due process, you may be able to apply to human resources for more time to improve your performance. You may also be protected by an employment contract, a union contract, or an anti-discrimination statute.
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Don't Quit Without Investigating Other Positions at the Company If your superiors think you are a positive employee and have a good work ethic, there may be other positions available for you within the company. If your employer knows that you are willing to take any position, they may consider you for positions that are more suitable for your skills.
Don't Announce Your Firing Immediately Take a moment to consider what you want to say, and how you want to be perceived by your colleagues and other professional contacts before you inform everyone that you are out of a job.
Factors to Consider
If a hypothetical Unisys Corporation employee is laid off, it can be a difficult issue to face. Transition is always a process that is often accompanied by negative feelings that reduce the employees’ efficiency. According to experts, those who have been laid off may tend to feel helpless, anxious, and negatively biased towards themselves.
It is important to have these feelings, but you should not let them control you. If you give these types of thoughts too much credit, you may prevent yourself from moving forward to a better future and may end up doing something you may regret.
It is important not to vent on social media about your former employer when you are fired. For Unisys Corporation employees, even if they are mistaken, you have much more to lose. By giving yourself 24 hours, you are given time to reduce the intensity of your feelings.
You will become a victim if you allow yourself to be overwhelmed by anger and send nasty emails that will prevent you from getting a job in the future. In addition, if you express anger and feelings of betrayal, you may appear to be at fault, which is extremely counterproductive in an interview setting.
Unisys Corporation employees may also help narrow down their words and only use them to close friends and relatives. 'Be mindful of what you do to the people around you, such as venting continuously, being irritable, and projecting your anger onto others.
You are telling it to your loved ones, even though they had nothing to do with this event. This is not how you should express your emotions.' Dr. Jantz gave advice.
Adaptation Strategies for Unisys Corporation Employees
It is crucial for Unisys Corporation employees with overwhelming emotions to practice good self-care and be resilient.
When confronted with anger, contributing positively to your nutrition, sleep, and physical routine may prove beneficial. Walking, working out, and exercising are all methods of anger management. In addition, writing down your emotions, not engaging in self-destructive behaviors, and the knowledge that you cannot punish yourself for what has happened are also ways of dealing with these intense negative emotions.
One must also reconsider and reevaluate and determine what needs to be done in order to strengthen and improve health. Those who formerly worked for Unisys Corporation are more likely to exhibit depressive symptoms if they isolate, stay indoors, and constantly withdraw.
While it is important for Unisys Corporation employees to consider their work as part of their identity, it is dangerous to make it your only identity. In a study conducted by the Journal of Frontiers in Psychology, individuals who reduced themselves to their jobs felt dehumanized, like a machine or a tool, and had higher levels of disengagement, depression, and burnout.
Therefore, Unisys Corporation employees may also find it helpful to understand the concept of self-complexity. Self-complexity refers to the number of characteristics that define the important aspects of who you are. The more diverse your personality is, the more resistant you are.
Hence, it is important to build a diverse self-identity, as you would a diverse portfolio of investments. You can develop self-complexity and build your identity across various areas of your life. Therefore, when things are not going well at work, you will not feel like you have nothing left.
You may decide to spend time on your interests, religion, or health. It is possible that Unisys Corporation employees may reduce feelings of depression and anxiety towards work after being laid off if they are persistent and always strive for success.
It is important to ask oneself, 'Am I angry and bitter? Is fear and anxiety all around me?' Use positive encouragement to tell the person that there is nothing wrong with them and that they are going through a tough time in their life.
Sources:
1. Zippia Team. '35+ Shocking Statistics About Automation and Job Loss in 2023: Are Robots, Machines, and AI Coming for Your Job?' Zippia, 2023. https://www.zippia.com/advice/automation-and-job-loss-statistics/ .
2. Zippia Team. '23+ Artificial Intelligence and Job Loss Statistics [2023]: How Job Automation Impacts the Workforce.' Zippia, 2023. https://www.zippia.com/advice/artificial-intelligence-and-job-loss-statistics/ .
3. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023. https://www.zippia.com/answers/how-many-jobs-are-going-to-be-lost-to-automation/ .
4. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023. https://www.zippia.com/answers/will-ai-cause-job-losses/ .
5. Zippia Team. 'Get the Job You Really Want.' Zippia, 2023. https://www.zippia.com/answers/which-jobs-are-most-at-risk-of-being-automated-by-artificial-intelligence/ .
6. 'Automation and Job Loss Statistics.' Zippia, 2023. https://www.zippia.com/advice/automation-and-job-loss-statistics/ .
7. 'How to Deal with Layoff Anxiety.' Harvard Business Review, September 2022. https://hbr.org/2022/09/how-to-deal-with-layoff-anxiety .
8. 'Top Things Not to Say or Do If You're Fired.' The Balance Money. https://www.thebalancemoney.com/top-things-not-to-say-or-do-if-you-re-fired-2063942.
What specific retirement options are available to employees of Unisys, and how do these options vary in terms of financial benefits, including considerations for early retirement vs. normal retirement age? In the context of the Unisys Pension Plan, what implications do these options have on long-term financial planning for employees at Unisys?
Retirement Options at Unisys: The Unisys Pension Plan provides options for normal, early, and unreduced retirement. Normal retirement is at age 65, and early retirement is available between ages 55 and 65, though benefits may be reduced for early retirement. Employees with at least 20 years of vesting service can retire without reductions from age 62. These options influence long-term financial planning as choosing early retirement may result in reduced benefits due to longer payout periods(Unisys_Corporation_Summ…).
How are pay credits calculated under the Unisys Pension Plan, and what factors might influence an employee's monthly pay credit pertaining to their Retirement Accumulation Account? Moreover, what are the potential impacts on retirement benefits if employees experience changes in their eligible pay during employment at Unisys?
Pay Credits Calculation: Pay credits under the Unisys Pension Plan were calculated at 4% of an employee’s eligible monthly pay from January 1, 2003, through December 31, 2006. Interest credits continue to accrue after this period until benefits are distributed. Changes in an employee’s eligible pay during employment will affect the total pay credits, thus impacting their retirement accumulation account(Unisys_Corporation_Summ…).
Can you explain the differences between credited service, eligibility service, and vesting service as defined by Unisys? What importance do these distinctions have on an employee's ability to access their retirement benefits, and how does each type of service contribute to the overall calculation of an employee's pension under the Unisys plan?
Service Types at Unisys: Credited service refers to the period used to calculate pension benefits, vesting service determines eligibility for receiving benefits, and eligibility service is the time required to become a participant in the plan. These distinctions are critical because credited service directly affects the benefit calculation, while vesting and eligibility service ensure employees qualify for benefits(Unisys_Corporation_Summ…).
What steps must Unisys employees take to initiate their pension benefits, and what specific information will they need to provide during the application process to ensure a smooth transition into retirement? Additionally, how does Unisys support employees in navigating this process, and what potential delays should employees be aware of?
Initiating Pension Benefits: To initiate pension benefits, employees must contact the Unisys Benefits Service Center and apply for their benefits. They must provide personal and employment details, including retirement age and chosen payout method (lump sum or annuity). Unisys supports employees through this process via their benefits service center, but delays can occur due to incomplete information or processing times(Unisys_Corporation_Summ…).
In what ways does the Unisys Pension Plan ensure protection for employees' benefits under federal law, particularly through the Pension Benefit Guaranty Corporation (PBGC)? How does this insurance work in practice, and what types of benefits are specifically covered or not covered by the PBGC for Unisys employees?
PBGC Insurance: Unisys Pension Plan benefits are protected under the Pension Benefit Guaranty Corporation (PBGC), ensuring employees receive guaranteed benefits even if the plan is terminated. However, certain benefits, such as non-qualified plans or supplemental executive retirement plans, may not be covered under PBGC(Unisys_Corporation_Summ…).
How might changes or amendments to the Unisys Pension Plan affect existing and future employees? In particular, what provisions does Unisys have in place to communicate significant changes in the plan to its employees, and what rights do employees have under ERISA if they disagree with these changes?
Impact of Plan Amendments: Any amendments to the Unisys Pension Plan could affect both existing and future employees. Unisys communicates significant changes through written notifications. Employees have rights under ERISA, including the right to challenge plan changes if they disagree with amendments that negatively affect their benefits(Unisys_Corporation_Summ…).
What considerations should employees of Unisys keep in mind regarding their benefits if they are nearing retirement age? Additionally, how can employees effectively prepare for potential changes to their health or work circumstances that could impact their retirement planning, given the options provided by Unisys?
Retirement Preparation: Employees nearing retirement should consider the timing of benefit elections, such as early or normal retirement. Preparing for potential health changes or shifts in work circumstances is essential, as these factors may alter retirement needs and benefit choices under the Unisys Pension Plan(Unisys_Corporation_Summ…).
What are the options available for Unisys employees who wish to designate beneficiaries for their retirement benefits, and how do these designations affect benefit distributions? Specifically, what criteria must be met for naming a contingent annuitant, and what restrictions might apply under the Unisys plan?
Beneficiary Designation: Unisys employees can designate beneficiaries for their retirement benefits. If a spouse is not the beneficiary, spousal consent may be required. A contingent annuitant can also be designated under certain restrictions, affecting the distribution of retirement benefits based on Unisys’ rules(Unisys_Corporation_Summ…).
How does the Unisys Benefits Service Center operate, and what resources are available for employees seeking information about their pension plans or retirement benefits? What are the best practices for contacting the Unisys Benefits Service Center to ensure that employees receive timely and accurate answers to their inquiries?
Unisys Benefits Service Center: The Unisys Benefits Service Center provides employees with resources for pension inquiries and applications. Best practices for contacting them include preparing all necessary personal and employment details to ensure timely and accurate responses(Unisys_Corporation_Summ…).
What are the most important elements of the Unisys Pension Plan that employees should review before retirement, and how can employees leverage the information provided in the summary plan description to optimize their retirement income? What role does employee education play in enhancing knowledge about these elements and ensuring informed decision-making about retirement benefits at Unisys?
Critical Pension Plan Elements: Employees should review their Retirement Accumulation Account, service years, and payout options before retirement. The summary plan description is a valuable resource for understanding how to maximize retirement income, and Unisys offers educational tools to help employees make informed decisions(Unisys_Corporation_Summ…).