How to Bounce Back after a Layoff
Unfortunately, if you’ve been laid off recently, you’re in good company. Crunchbase reports over 93,000 jobs cut in the US in 2022 and more than 150,000 employees from US-based tech companies being displaced in the first two quarters of 2023. Layoffs are often an upheaval in our lives that result in a wave of emotions - fear, shock, anger, sadness, disappointment. There might even be feelings we might not expect like relief and hope.
It takes some time to see it, but there is a world of possibility after a layoff. You are forced outside of your comfort zone to explore opportunities. Sure, the stability of a paycheck is nice, but let’s imagine for a moment that you have just stepped into an adventure. Yes, the unknown is frightening but there is a journey afoot! If you’re feeling lost with where to start on this new adventure, here are some avenues to explore.
Relax and Rejuvenate
Odds are that you’ve been working hard. Maybe you had planned to use PTO in the future. Now is a great time to take some time for yourself. You might be watching every dollar now that you’re unsure when the next paycheck will come, and that’s ok. There is no need to spend any money for this vacation. Take some time to rest and take part in activities that you enjoy. It might be a great time to explore your city!
Reflect and Rediscover Your Passions, Strengths, and Goals
Has your career path transitioned from where you had once envisioned? So often, our path is full of twists and turns that we find ourselves asking, “how did I get here?” Now is a great time to ask yourself, “is this where I want to be?” Take some time to answer the following questions
Am I using my strengths in the way that I want?
Does this work feel fulfilling?
What salary do I need to meet my financial goals?
What would my ideal job duties look like?
Do I want to continue in this industry or explore other options?
It can be helpful to allow yourself some time to reflect and build upon your answers as you figure out what your next career opportunity will look like.
Research Potential Career Paths
Explore career options that align with your strengths, passions, interests, and goals. Check out current job openings and descriptions. Analyze market trends and employment projections. Don’t be afraid to think outside of the box and see how your transferable skills could be a perfect fit elsewhere.
Uplevel Your Skills
Spend some of your newfound time increasing your skill set. Identify skills that could be improved and find resources that will help you upskill. Look into online courses, workshops, and postsecondary classes. It might be the perfect time to get that certification you kept putting off.
Expand Your Network
Your network is your secret weapon. Reach out to your existing connections and expand your network by connecting with online communities, attending industry and networking events, and events with like-minded professionals and potential employers. You never know where a casual conversation might lead!
Clean Up Your Resume and Cover Letter
It’s always good to search what the current resume trends are, especially if you’ve been employed for a while. Make sure your most recent experience, skills, and achievements are represented. It is helpful to optimize your resume and cover letter using keywords from each job description, so it can be helpful to have a master resume and cover letter that has all of your skills, responsibilities, and accomplishments, so you can pull out what is relevant for each position.
Prep for the Interviews
Whether you love them or hate them, interviews are your time to shine. Research the company, their mission, values, and initiatives. Practice your responses to common interview questions. Make sure to highlight how your transferable skills align with the role and how you can contribute to the mission and goals of the company. Be prepared to ask questions about the details of the day-to-day of the role and being an employee of the company. It can be helpful to remember that this is your time to interview them. Take some pressure off of yourself!
Take Risks
You have nothing to lose. Apply to that position that you think you can never get. Explore options for creating your own business. Get mentorship from others that can support you as you dream big and take risks as though you will not fail.
Your Layoff Is The Beginning
Once the cloud of emotions passes, you can see the plethora of possibilities before you. Remember, a layoff is not a reflection of you and you are not defined by it. Now is the time to identify yourself as being more than your job. This is a great time to relax and rejuvenate, reevaluate your passions and goals, explore career options, and take risks. You’ve got this!