Most people are unprepared for layoffs.
Losing your job is one of life's most stressful events. Unfortunately, most people are unprepared for this life-changing news. Last year employers let go 321,970 people, reports Challenger, Gray, & Christmas, Inc. For the first six months of 2022, 179,506 became unemployed. Ellen was the HR Manager at a midsize company. Distraught, she called asking for career help, saying she’d just been laid off from her employer of 12 years. Ellen was shocked, having a hard time trying to accept this had happened to her. “I am a dedicated employee,” she said. “I worked long hours through the pandemic, and now I realize my loyalty means nothing. I feel so betrayed. I’ve become depressed. I am 59 years old, so I’m worried my age will prevent me from finding a new job, and I need to work,” she said with panic in her voice.
When the job ends like that, you need some time to process this loss. You’re likely to experience a complete range of feelings: fear, isolation, loss of identity and confidence, depression, and some trepidation. Try writing out the emotions and give yourself a few days to recover. There is one mistake you must not make. Be very careful you do not burn any bridges with your boss or former employer, no matter how angry you are. Avoid complaining on social media. One VP of Recruiting shared she was ready to make a job offer and went to see a candidate’s LinkedIn profile. She read recent posts he’d made, and several were very critical of his former employer. Because of that, he lost the high-paying job she was about to offer him.
As a career counselor with decades of experience, I shared something with Ellen that helped reassure her. If you are suddenly unemployed, now is the best time for that to happen. Why? It’s a job hunter’s mecca. The Bureau of Labor Statistics tracks the time unemployed people remain out of work. The average unemployment duration was 7.5 weeks between leaving a job and obtaining a new one. That is significant when you consider what it was a few years ago, when it took at least five to six months to land a new position. So, reframe your thinking and focus on this opportunity to land a better, higher-paying job.
Your new job will likely come with a pay hike—and a big one. The most significant salary jumps almost always come from leaving a job and taking a new one. CNBC reports that the typical increase is now about 10%. Yet when you talk to recruiters who are in the trenches trying to hire new employees, they all complain that it’s taking a major salary increase to get people to accept their job offers. They report that when the average professional switches jobs today, they will likely get a pay increase between 15-35%. Unfortunately, the accurate figures of what employers are paying today aren’t incorporated into the salary data available on the internet. Whether you are a Baby Boomer, Millennial, Xer, or GenZer, HR managers report that people at all levels are starting with better salaries than they left. Being unemployed seems to have no impact on the salary offered.
Know Your Real Value
You have marketability talents other employers would be interested in. Do a self-assessment of what your accomplishments are, the knowledge you have acquired, and most of all, the accomplishments and results you have achieved in past roles. To begin your job search, define your actual worth as an employee performing your type of job. You may worry that you were overpaid, only to learn you were underpaid. For example, a laid-off Boeing engineer stated he didn't know what his skills were worth to other employers. He researched the subject and uncovered salary surveys and in-depth salary data on Payscale.com that were enlightening. As a result, he landed a new position at Hewlett-Packard that paid $20,000 more than his prior salary.
Networking Is The Top Job Search Strategy
Connections are key. Ensure you are using LinkedIn to connect to all former managers, colleagues, vendors, customers, friends, clients, etc. They are vital sources of insider information and knowledge about job opportunities. LinkedIn has made networking easy, allowing you to reach out and send a personal message. A terrific strategy includes asking a colleague for a referral to their employer by passing your resume on to the hiring manager. Referred applicants always get heightened attention. For more specifics, read the Forbes.com article “Here Is A LinkedIn Secret Weapon To Land A Job.”
One of the country’s top job search strategists, Hannah Morgan, who writes a newsletter and blog, offered her best advice on getting hired.
“Uncover the hidden job market via LinkedIn,” says Morgan. “An impressive LinkedIn profile is where you start. Ensure that recruiters find you by creating a more compelling headline instead of the default that lists your current job title. Customize your headline to spell out the type of roles you are looking for and note any special expertise. As you craft your profile, use the LinkedIn “About” section to tell your story. Include the kind of information you’d use in a cover letter or how you’d answer this question, Tell me about yourself? Write the “About” section in first person, which means use “I” throughout this section.”
Morgan continued, “Sell yourself effectively when you write about your work experience on LinkedIn. Take credit where credit is due. Be specific on how the employer benefited. Did you save time or money? Did you create something new? Don’t just list the job title, employer name, and dates of employment. Be sure you outline the results you achieved working at your current and previous positions.” For additional guidance, read “How to Write an Impressive LinkedIn Work Experience Section.”
Keep a positive attitude and be able to describe in an interview why you are right for the job. Demonstrate the value you’d bring with specific details of the past results you delivered and how that prospective employer would benefit if they hired you.
