It’s never easy to receive notice that you have been laid off due to a bad economy.
So what can you do?
There are ways to navigate a mass layoff and come out on top, and this blog will help you explore them.
The first step is to look at your short-term and long-term options.
SHORT TERM
Finding a full-time position can take time, and while you fend for yourself financially, there are many ways to find temporary or freelance work. Whether it's a temp agency, gig work, or projects posted online, you will surely come across some form of short-term employment that can help get you by.
Working for a company on a short-term basis can be a great way to gain valuable experience, increase your network, and supplement your income. It is also an excellent way to discover whether you like the type of work provided at that particular company or if you think it might be something you want to pursue in the future as part of your career.
Companies regularly require staff for seasonal roles, filling in absences due to illness or maternity leave, and other ad-hoc projects. These all provide good opportunities if you're prepared to look for them. Doing so can help you build transferable skills, which will help develop your employability and lead to interesting encounters and great experiences.
Taking on freelance jobs is an increasingly popular option for those looking for work opportunities, offering the flexibility to fit their contract around other commitments such as studying and personal interests.
Recent figures show a four times greater increase in the number of freelancers compared to the rest of the workforce. As one experienced freelancer puts it, “There’s nothing like having control over my schedule, which allows me to go for job interviews and explore other interests during my downtime. It’s been very liberating in many ways.” These advantages make pursuing freelance work a great route to maximize your time and reap satisfying rewards while making progress in the job market.
With flexible hours and the ability to work from home, freelance work has become increasingly popular with job seekers. Recent studies suggest that 66% of people turn to freelance work while searching for their next permanent role - a statistic that conclusively proves how effective it is in bridging the financial gap between leaving one job and securing another. As Nobel Peace Prize winner Desmond Tutu said: “Do your little bit of good where you are; it’s those little bits of good put together that overwhelm the world.”
For many freelancers, finding this steady stream of work is seen as an opportunity to ‘do good’ and make a valuable contribution - even on a short-term basis.
Although freelance work may not be the ideal way to pay your bills, it's certainly a glorified way of receiving an income during job searches.
Attending job fairs can be an important part of the job search, with some surveys reporting that up to 70% of job seekers find work through such events. People looking to fill hiring needs often look to them as a source of potential candidates, so if you want to increase your chances of securing a good job, it is crucial to research local events and attend any available career counseling sessions.
With so much changing in the job market, having the help of a Job Search Strategist can make all the difference.
Evidence shows that job seekers who work with a job search coach find employment significantly faster than those who don't.
A study showed that 88% of people who employed a strategized approach to their search secured jobs within 3 months, compared to 19% of those who didn't. It's clear then: working with an experienced Job Search Strategist gives you access to industry knowledge, advice, and insider secrets that make all the difference to how quickly - and successfully - they complete their job search. Reaching out for professional help can be the key to success in these volatile times.
A thorough approach to the job search process should pay dividends in the long run - those "who don't give up despite difficulties" (Henry Ford) will eventually find a position that suits their skills and ambitions.
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LONG TERM
Regarding long-term options, it’s important to think outside the box and consider different opportunities that suit your skill set.
Now is a perfect time to make a switch if you find that you no longer feel passionate about the industry you are currently employed in. As many as 60% of people feel stuck in their current roles, which is often a sign that a transition might be necessary.
The famous quote, “A ship in harbor is safe — but not what ships are built for,” by John A. Shedd comes to mind; while comfort may seem reassuring, sometimes taking risks and pursuing new opportunities can lead to even greater rewards.
So if you're feeling unfulfilled, now could be the ideal time to pursue something different and start your journey toward success.
If you feel stuck in a current career path, another option might be starting your own business or heading back to school. This can often be intimidating, yet the rewards of such decisions can be incredibly positive and growth-inspiring.
According to Forbes magazine, 87% of millennial entrepreneurs stated that starting their own business had been a worthwhile endeavor worth the risk and effort, with 81% agreeing it enabled them to take their career in a more attractive direction.
As quoted by Robert Kiyosaki – an entrepreneur, investor, and author of Rich Dad Poor Dad: “The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way”.
It’s also important not to forget about networking during this difficult time; staying connected with former colleagues is one of the best ways to get information on job openings or potential opportunities at other companies.
Take time out of each day for networking activities such as attending networking events or sending emails/messages/phone calls to people in your network who might be able to help you land a job faster than going through traditional channels.
Navigating a mass layoff isn't easy, but by taking some proactive steps—such as exploring different job opportunities, considering alternative career paths, taking advantage of outplacement services where available, and keeping in touch with former colleagues—you can come out on top despite difficult economic conditions.
The key is being willing to try new things while staying focused and determined throughout the process; this way, you'll be well-positioned when the opportunity arises again!
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If you are still baffled by the job search process and are convinced that it is broken, or you are going on interviews and not getting offers, grab time on my calendar to learn more about the strategic roadmap for job seekers I have created that shares the inside secrets from the view of the Recruiter, so you do not have to waste time figuring out how to find a job or to waste time by making mistakes.
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🔴 Ilene Rein is an Executive Recruiter and Job Search Strategist. She teaches job seekers exactly how to market themselves with laser precision to employers using inside secrets from the view of the Recruiter exponentially increasing their chances of getting noticed and hired rapidly!
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If you are serious about your job search and want to learn how to land your dream job in record time, schedule a complimentary consultation to speak directly with Ilene:
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My clients are getting hired in 3-8 weeks in their dream jobs after searching on their own for 9-12 months!
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