Navigating Layoff Season: Strategies for Success
You may have come across recent headlines reporting on layoffs at several prominent organizations such as Salesforce, Amazon, Meta, Blackrock, Dell, and Paypal. While this news can be concerning, especially if you’re actively seeking employment or currently employed, it’s important to remember that you have the power to control your own career path. Rather than allowing these announcements to create panic or uncertainty, you can choose to proactively prepare for any situation that may arise. By following these 5 tips, you can adopt a mindset of readiness that will equip you for any scenario – whether it be an unfortunate layoff, a voluntary resignation, or an unexpected new opportunity. Remember, you are in charge of your own future, and with the right tools and mindset, you can overcome any challenge that comes your way.
1.) Maintain a log of your professional achievements
If you don’t have one already, create a document with a list of your achievements in your current role. It doesn’t need to be perfectly formatted, focus on including the essential details of your accomplishments such as the situation/problem, your actions and what the end result was. Don’t forget to include the quantifiable data (dollar amounts, percentages, and numerical values) and the business impact. Then set a task reminder to update it routinely, weekly is preferred so the details are still fresh in your mind.
2.) Build and maintain your network of relationships
It’s estimated that over 80% of all jobs are filled through personal and professional connections. Invest your time in people! Even when you aren’t actively looking for jobs, make time to have meaningful connection with others – whether that’s the barista at the coffee shop you see routinely, a former colleague you no longer see everyday or a connection you recently made at an event. Maintain communication with periodic check-ins, engage with their posts on LinkedIn and offer your assistance where you can. Your relationships should be based on reciprocity. Think of them like you would a savings account; you need to make frequent small deposits over time before you can withdraw a large amount.
3.) Keep your resume and LinkedIn profile current
Remember that log we talked about earlier? It’s your secret weapon to keep your resume and LinkedIn profile up-to-date with your most recent and impressive accomplishments, awards and professional growth. Whenever you come across an exciting opportunity that catches your eye, all you need is 15-20 minutes to personalize your resume and apply. By regularly updating your LinkedIn profile with the latest skills and keywords, you’ll increase your chances of being found by recruiters searching for talented individuals like you.
4.) Be a lifelong learner
Keeping focused gives you a competitive advantage, regardless of whether you’re looking for a job or not. There are many options to continue advancing your skills and expanding your knowledge that doesn’t require going back to school. A few standouts include Cousera, LinkedIn Learning, and YouTube. Your current employer may even offer professional development options or tuition reimbursement so be sure to take advantage of those benefits while you have them. Read The Importance and Value of Professional Training article for more information.
5.) Establish an emergency savings
The best time to save money is when you’re not in crisis mode. Get in the habit of routinely setting money aside in a savings account. This will help you prepare for those unexpected things life throws at you such as a layoff or furlough. Your emergency funds will help ease the stress while you transition into your next role. Check out this LinkedIn Learning video, Bolster Your Emergency Fund to help you get started.
Navigating layoff season can be a challenging experience, but it’s important to remain optimistic and proactive. By focusing on building your skills, networking, and keeping a positive mindset, you can increase your chances of finding success in the job market. Remember to stay flexible and open to new opportunities, and don’t be afraid to seek support from friends, family or professionals. With the right mindset and strategies, you can successfully navigate the layoff season and come out stronger on the other side.
Kayla Corbisiero is the Manager of Virtual Services at Hire Heroes USA. Hire Heroes USA provides free job search assistance to U.S. military members, veterans and their spouses, and we help companies connect with opportunities to hire them. We have a proven track record of success helping over 75,000 veterans and military spouses get hired since the company was founded. The services never expire. Sign up today at www.hireheroesusa.org.