Layoffs are ticking upward
It seems lately that every news channel or LinkedIn article is talking about a company that laid off a large portion of its staff. Tech companies and others such as Tesla are in the news. I also noticed an article today where Revlon Cosmetics filed bankruptcy (Revlon Cosmetics Bankruptcy article.) Obviously, the driver of this is absurdly high and out of control inflation. As a result, this has led to a slowdown in consumer spending and now we’re seeing cuts across the board.
Were you cut?
If you were a victim of a recently layoff, first of all take a deep breath! Many of us have been there and we survived. Most likely, you’ll experience several emotions ranging from anger to sadness to regret back to anger and a whole host of others. Just know you’re not alone. Take time to work through those emotions before you begin another job search. The last thing you want to do is either portray your anger in your next interview or jump in a job that you’ll soon regret.
Network, Network, Network – Recruiters
There is a old saying that “80% of jobs are not advertised”. I personally believe this is rubbish. My gut tells me it’s probably closer to 20% – 30%. For example, as an executive recruiter in the supply chain space, I don’t post many of the senior level roles (VP, COO, ect). Quite often, it’s because a senior member of the client’s staff is retiring it shouldn’t be made public knowledge. In other cases, the company is looking to replace a poor performer so advertising isn’t an option. Knowing this, it would behoove most people to do some high level networking with recruiters in your space and develop those relationships in the event they are working one of the roles that fall into this 20% – 30% anomaly.
Network – Potential FUTURE Employers
In our last Blog about , we talked about optimizing your LinkedIn profile with the article located at: Insulating Against Layoffs. So, at this point I’m assuming you’ve done that along with beefing up your resume. I’d suggest reaching out managers that are in your field with companies you’d like to work for (i.e. if you’re a Supply Chain Manager reach out to Director and VP’s of Supply Chain). Start building and establishing those relationships. Honesty is the best policy so you can explain your situation (laid off) and let them know what value you can bring to their team. I’d also suggest networking with people in your social circle (church, bowling league, neighborhood, ect). You just never know who may have a hiring need or KNOW someone that does. Lastly, HANG IN THERE! You’ll be fine and survive this.