Layoffs are continuing this year, and while they seem to be affecting the tech industry primarily, hearing about layoffs can make us nervous about our careers. Have you recently been laid off or are you concerned about being laid off this year? Layoffs can be scary. Our career coaches sympathize with all those who are facing that situation.
We truly care, so we provide career help for many different issues, including how to handle a layoff. Here are four tips to get started:
Negotiate severance. One important career help tip for layoffs is to negotiate your severance package. As career coaches, we encourage you to do your research and see what kind of severance packages may be available to you. While we do want you to think about the sum of money in your severance, don’t forget to consider other options that you can negotiate for. For example, you may be able to negotiate benefits, such as extending your health care coverage and additional stock options. You might find it helpful to speak with your network about benefits that you can negotiate for as part of your severance.
Update your marketing materials. As career coaches, we also encourage you to immediately review and update your marketing materials. These include your resume, cover letter, reference list, and social media profiles. Make sure they include your recent accomplishments, kudos, and marketable results. We recommend doing this while they are fresh in your mind. Putting this off can make it difficult to quickly apply for any job openings you find.
Leverage the hidden job market. Another career help tip that we encourage all of our clients to implement is leveraging the hidden job market. 80% of jobs are found through the hidden job market. Talk to your family, friends, networking connections, alumni association, local industry association about what has happened and what type of position you are looking for. While you might initially feel embarrassed about sharing your situation with others, they will want to provide you with career help and will spread the word amongst their connections.
Make time for self-care. Don’t forget to take care of yourself during a layoff. Fight the tendency to spend every waking minute on your marketing materials, networking, and job searching. This will only lead to stress and burnout. As career coaches, we recommend that you schedule time for breaks to relax or do something that you enjoy. This will help you to feel refreshed and ready to continue with your job search.
Need more career help? Our career coaches are here for you. Schedule a free consult today.