What to do if a company wants you back after a layoff

If you've ever been laid off you understand the feelings of devastation that pink slip or termination letter can bring. Getting laid off from a job is probably one of the most stressful events you can ever deal with over the course of your life. While unemployment is hitting its lowest point since 1969, it's not inconceivable at some point down the road we could end up in another recession with a rocky job market. This kind of economic uncertainty can lead to hard decisions needing to be made.

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Layoffs may happen for a variety of reasons, but the primary reason companies lay employees off is to scale back on costs. Many companies usually target the employee budget line in order to reduce expenses because it is the most costly one. How companies handle layoffs can greatly vary. Some companies give excellent severance plans, plenty of notice and letters of recommendation. However, after the recession, it became commonplace for companies to slash jobs without blinking an eye and escorting people immediately to the door.

What should you do if a company wants you back after a layoff? Before accepting that job, there are a few major things to consider as you ponder whether you should accept a position with a company that laid you off. If your old employer comes calling looking to rehire you, ask yourself the following questions.

How were you laid off?

If you were laid off with respect and treated fairly you should absolutely consider this when making your decision. Sometimes economic situations cause employers to take action they really didn't want to take and they are eager to give you "first dibs" when they are able to hire again. On the other hand, if your former employer was callous about laying you off and you know you'll be going back to a less than ideal situation, you'll want to keep this in mind too.

Another possibility to consider is whether or not the current job offer on the table is equitable to the position you were laid off from. Is the job a secure one? Can they guarantee you a contract or long-term employment or is it probable they may lay you off again without a second thought?

What are your current circumstances?

A primary deciding factor will be whether or not you have found other gainful employment. If you haven't found a job or even if you've found a temporary or part-time job which helps make ends meet but doesn't really pay the bills you might want to consider going back.

The present economic climate should also play into your decision. If you have many good leads for a new job which may be more secure this is an important consideration - especially in 2018's market. However, if you've spent hours pounding the pavement and not finding something that "feels right", you may want to entertain going back, at least until the right opportunity comes along.

What kind of employment package is being offered?

Are you being hired for the same job or did the company scale back on jobs only to rehire people at lower salaries with fewer benefits? If your new package is comparable, or better, than what you had, you might want to seriously ponder going back. However, if their offer is significantly lower, do you really want to bother investing the time and effort?

The feelings which come with a layoff are rough and it puts you in the unfortunate position to try and find other employment. Weigh the pros and cons. If it was a bad situation, do you really want to go back to it? Sometimes there is no choice, but other times there are plenty of other options.