Dow+30.69up+0.29%
10,464.40
Nasdaq+6.87up+0.32%
2,176.05
S&P+4.98up+0.45%
1,110.63

MSN Money video

Video on MSN Money
This video requires the installation of the free Adobe Flash Player. Click here to download.
More video on MSN Money . . .
Liz Pulliam Weston

The Basics

9 smart ways to spend your furlough

Don't use these forced days off to sleep in -- you snooze, you lose. Instead, lay the groundwork for a job search, increase your knowledge and work off stress with exercise.  

By Liz Pulliam Weston
MSN Money

A furlough is a big, flapping red flag that your job is in danger.

Forcing workers to take unpaid time off helps employers reduce costs and, ostensibly, avoid layoffs. But a company that decides it can do without your services for a few days might very well decide to do without them permanently.

Yet way too many workers fiddle while their careers burn. An online poll at The Consumerist found the majority of those furloughed treat the days as unpaid vacations. My informal poll of readers and posters on the Your Money message board found that many used the time to sleep late, pursue hobbies or catch up on household chores.

Now, I'm as fond of snoozing and clean closets as the next person, but people, come on. If you're forced to take furlough days, you should be using them to ready yourself for your next job. You might be looking sooner than you think -- and in case you haven't heard, it's not a great time to be unemployed.

People who get a head start on burnishing their résumés and networks will be in a far better position to find their next job than people who bury their heads in the sand, said Lois Frankel, a career coach and the author of "Nice Girls Don't Get the Corner Office" and "See Jane Lead."

"Nobody's safe anymore," Frankel said. "You should be making the investment of time now."

If you're facing a furlough, here are some ideas for making the most of your time off:

1. Create your layoff plan. Unpaid time off means less money coming in, so you'll need to adjust your expenses just to cope with a smaller income. But while you're trimming expenses, cut back a little more so you can build up your emergency fund. If there's an expense you'd cut if you were laid off, trim it now and bank the extra cash. (Donna Freedman's "In case of layoff: A financial fire drill" is a must-read. And read my "Survival guide for the unemployed" for tips about handling the worst if it happens.)

2. Get serious about online networking. Professional networking sites such as LinkedIn and Plaxo are free and allow you to reach out to former colleagues, friends and old classmates, all of whom can be a gold mine of potential job leads. Stanford sociologist Mark Granovetter discovered that many people find jobs not through their nearest and dearest but from "weak" connections: acquaintances and friends of friends. The bigger your network, the better your chances of uncovering your next great position. Résumé expert Tony Beshara, author of "The Job Search Solution," recommends writing down the name and number of every single person you know as a kind of master networking sheet, then working your way through it to let folks know you're looking for your next post.

3. Network offline, too. Consider joining at least one professional or social organization that can help you expand your network. Maybe you can use some of your unpaid days to attend the group's meetings or annual conventions for more face time. Volunteering can help you build contacts, as well as a sense of gratitude.

4. Create some goodwill. Keith Ferrazzi's excellent networking book "Never Eat Alone" emphasizes the importance of doing good deeds for others without direct expectation of rewards. Write a glowing recommendation for someone, tell someone else about a job prospect, encourage someone who's feeling down. This stuff is easy to put off in the rush of a typical workday but is essential to building a strong network -- and feeling good about yourself.

Continued: Start building your credentials

 1 | 2 | next >

Rate this Article

Click on one of the stars below to rate this article from 1 (lowest) to 5 (highest). LowRate it 1Rate it 2Rate it 3Rate it 4Rate it 5High
Join the discussion!
Sort by:
1 - 10 of 13
Friday, July 24, 2009 6:21:48 PM
Too many people chasing too few jobs(regardless of how much they pay) is like musical chairs.  Those left standing get to march in place for exercise. 
Monday, July 27, 2009 7:11:38 AM
I'd just like to say that I have never found a job via friends or acquaintances yet I read about this networking thing all the time.  It's all pure poppycock.  I always find my next job completely on my own.   In fact, I just found a new one recently, thank goodness.  It's really scary out there, as you all know by now.   Just keep banging away filling out applications and resumes.
Monday, July 27, 2009 11:31:51 AM
When I was laid off, I would get up at 8.. Go to the refrigerator and get 2 cold beers and sit in the hot tub for an hour. Then I would do what ever I felt like doing, mainly it was practice for retirement and I'm real good at that now.....I really liked being laid off....and I really like retirement... Have fun and don't take the world serious!!!!!
Monday, July 27, 2009 12:25:40 PM
It is difficult to find that balance between the activities that eat into your emergency funds and those that bring about some results ie get you the job..... I believe it is hard to resist the temptation of sleeping late, going to the beach and spending more time at the bar. These are effective ways of dealing with the stress as well..    
Monday, July 27, 2009 12:42:14 PM
The only thing you should be doing with furlough days is picking up odd jobs for cash or starting a business.  You do not want to be working for "the man" in this economy.  Corporations are fascist and have no loyalty to you or anyone else.  They even go so far as to lobby your representatives to take away your civil rights.  Go figure, huh.  How's that for good citizenship, and yet they have the same rights as you under the constitution, so says the Supreme Court.   
Monday, July 27, 2009 2:53:24 PM
Send some of the meat my way, I have a few excellent recipes.
Monday, July 27, 2009 3:49:52 PM
Im's sleeping on my furlough day, i's be tired on my day off.Open-mouthed
Monday, July 27, 2009 3:51:23 PM
Daddy You sleep to much go getta job lazy man!
Wednesday, July 29, 2009 5:24:35 AM
Please don't give up on this. I found my last two jobs through friends/acquaintances and they were not posted. One was for an opening that was about to occur, and I was first in line. Not poppycock, but keeping your options open.
#10
Thursday, July 30, 2009 9:44:34 AM
Great suggestions on how to use the extra time from furlough.  I wish I would make time to do some of these things even while working!  Thanks for the article Liz.
1 - 10 of 13
To add a comment, pleasesign in