Getting laid off is something that no one wants to experience. However, in today’s economic climate, layoffs are becoming more common than ever.
To say that these events are causing anxiety among workers is a huge understatement. After all, losing your job can be difficult and stressful.
Real talk: Should you be ready for a possible layoff?
Job security is no longer as certain as before. No matter how talented you are as an employee, there are a lot of factors that can affect layoffs:
- Economic inflation and recession
- Industry downturns
- Restructuring of organization
- Reduced workload
Even if you’re currently employed, it’s important to be prepared for the possibility of a layoff.
Here’s a question for you: If you get laid off, can you honestly say that you are mentally and emotionally prepared for it? Of course not! But while you can’t control your employment status, you can control how you will take action and move forward.
Whether you are still currently employed or have just been laid off, here are some strategies and tips on how you can make the job search process better.
How to move forward after a layoff: Tips to navigate the job search process
Whether you were let go due to budget cuts or restructuring, keep in mind that it wasn’t a reflection of your skills or performance. With that in mind, here are some tips to help you snatch your next job.
Leverage your existing network
People usually feel embarrassed about being laid off so they refrain from broadcasting it. However, given the recent layoff trends, your network will be more understanding than you think.
While you might get helpful advice, you might even get some leads on a potential new job. Don’t hesitate to reach out to former colleagues or friends to ask them if they know of an opening you might be perfect for.
For example, when employees from big tech companies started posting on LinkedIn about being laid off, they started getting traction. Companies who were hiring wanted to get to them first.
Keep in mind that there are companies and industries that are steadily growing. Asia’s tech foundation, for example, remains strong—companies will be on the lookout for top-tier talent to fill in the gaps. So get out there and let them know you’re open to work!
Bump up your resume and portfolio
When was the last time you updated your CV? Take the time to not only update it but improve it—especially if you’re sending it out and looking for new jobs.
Here are some best practices for revamping your resume and portfolio:
- Personalize your cover letter for each potential employer. Don’t be generic so that you’ll stand out.
- Tailor your resume to the job you are applying for by highlighting relevant skills and experience
- Keep your resume simple and easy to read. Use bullet points and only focus on the most relevant information.
- Use keywords from the job description.
- Include noteworthy achievements and metrics to demonstrate the quality of your output
- Don’t send your entire portfolio—select the ones that are most relevant to the job you’re applying for.
- Provide context for each work sample such as your role and involvement. Depending on your industry and role, you might want to include results as well. (For example, if you’re a digital advertising specialist, you can include how much revenue was generated from a campaign.)
Never underestimate the power of upskilling
While people who get laid off have free time to do some upskilling, it’s also important to understand that you can upskill even while you’re employed.
For example, if you’re a graphic designer, you can learn 3D modeling and animation to increase your knowledge further. By continuously upskilling, you can increase your value as an employee—whether it’s for your current job or for the ones you’re applying to.
Upskilling is even more relevant today, as more recruiters and employers are now taking a “skills-first” approach when hiring people. Allot time to upskill so you can be more competitive in the job market.
Explore other types of working arrangements
Another option worth considering is the possibility of working as a contractor, consultant, or freelancer. Currently, there are already a lot of companies that hire contractors from all over the world.
There are also plenty of benefits to being a contractor, such as working anywhere or on your own time. Additionally, you get to position yourself as an expert. As a contractor, you can have multiple clients at the same time, which also provides you with multiple streams of income and employment.
Expand your job search beyond the usual platforms
Job searches don’t have to be limited to the usual company job boards or LinkedIn. There are now various platforms where you can find a lot of opportunities such as Upwork, Fiverr, or SolidGigs. These platforms are able to give freelancers different work and have helped with the rise of the gig economy.
Job loss is not the end of the road
Take this time to reflect on your passions and the long-term impact you want to make in your career. While it may be challenging to find a new job in your field immediately, staying proactive, continuing to learn and upskill, and networking with others can help you discover new opportunities and pave the way for long-term success.
If you do decide to pursue opportunities for contractors, check if the companies have enlisted the services of an Employer of Record (EOR) like CXC Global. They are the easiest and least-hassle free to work with since they are used to dealing with contractors.
Remember, getting laid off is not the end. For all you know, it can be an opportunity to transition into a consultant or independent contractor. With the right mindset and actions, it can be a chance for a fresh start and a better career.
CXC is a global workforce management and HR outsourcing organization with 30 years of experience in over 50 countries. We specialise in connecting companies with workers – contingent and remote. Additionally, our innovative and cost-effective solutions have a proven track record of helping businesses gain a competitive advantage. Contact us today to get started.