With so many jobs being slashed lately, especially in the financial sector, I’ve been hearing from a lot of executive job seekers who are suddenly out of a job.
Others see the writing on the wall and know it’s time to start looking for their next career opportunity.
Some are financially and emotionally prepared to move on, some aren’t.
Susan P. Joyce wrote about Layoff Self-Defense on job-hunt.org’s Job Search News Blog.
She offers some very helpful and heartening advice, including:
4 Layoff Facts
1. Don’t take a layoff personally. It’s usually not about your performance.
2. Passive job seekers (those still employed) are more attractive to another employer than those who are actively seeking, or unemployed.
3. Don’t let your current employer find out about your job search. It can speed up job loss.
4. Your credibility gap with potential new employers widens the longer you stay with a company hit by layoffs. Get out quickly, if you can.
Also, check out Susan’s in depth and practical layoff survival strategies.
Related posts to help you dive into a job search:
How a C-Level Executive in Financial Services Got a Handle on Executive Job Search 2.0
Top 10 Tactics to Build a Vibrant Executive Network
Get LinkedIn and Attract Recruiters and Hiring Decision Makers to Your eBrand
Yes, I’m not sure if I buy point #4. Completely agree with #2 from the perspective of a hiring manager. I’ve interviewed hundreds of potential candidates and it always raises some questions when the person has been on an active job search for quite some time. I’m thinking: “Why hasn’t this person got a job yet?”, “Have other companies rejected them for some reasons I haven’t seen yet?”. Especially if the person has been unemployed for more than a month or two, they better have a very good story.
I also ask the following question of all active job seekers, “Where else are you looking and how far along are you?”. I always like to hear that the person is in-demand and far along the interview process with several companies.
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Thanks for your comments, Jason.
You make a very good point about credibility. I’ll have to amend my thoughts on it.
-Meg
I am not sure I understand your point in statement #4. All of the others I agree with. However credibility is not suffered when one stays with a new company.
Look at it from this perspective as I have assisted in the transition of snr management from companies that have even closed their doors. Companies that are laying people off for the most part are reducing their overhead by removing non essential personnel. There is a great deal of time that this effects top people. When it does, the people left are typically strong leadership and essential parts of the company’s success. How does being selected as one of the “must haves” in a company effect your credibility?
There are also retainment solutions that have become ever so popular to create a strong financial incentive for people to stick it out to the end. They receive lump sums of 6-12 months pay in some cases to remain through the transition, making sure that the company’s operations and intellectual property are transitioned effectively. If one decides to stay…how does that make them less credible?