DISCLAIMER: Only represent executives I know personally or by referral. No online job postings, no candidate databases, no unsolicited resumes or cold calls. No disrespect intended!
My name is Mark Wayman, and my day job is Executive Recruiter specializing in gaming/casinos and high tech. Over the last 15 years I have placed 900+ executives between $100,000 and $2,000,000 with the average being $250,000 base salary.
This is the second part of my article layoffs. You can find the first part here:
Due to industry consolidation and the slowing economy, the layoffs have begun. In 2019, interest rates will continue to rise and Wall Street will continue to fall. What goes up, always comes down. It’s been a great 10 year ride of prosperity, however the party is over. That means more layoffs. The days of IBM, 30 years and a gold watch are over.
Ego is the Enemy – This is the #1 challenge I experience with executives that were laid off. They are so busy cussing out their former employer and obsessing about their former Boss that they can’t move forward. Let me tell you something very important: THEY DON’T CARE ABOUT YOU. Stop caring about them. Economies fail; people get laid off. Want to know the right attitude? Try this, “I am a consulting company of one that just happens to be on someone’s payroll.” The days of IBM, 30 years and a gold watch are over.
I’m Retired! – A reward for a career well done. I could not be any happier for you, but don’t tell anyone that will listen, “I’m retired” unless you really are. Once your peers and Executive Recruiters here that, they won’t send you career opportunities. Years ago an executive in his 70s that told me he was retired. Given his age, that made sense. Then he asked to meet for breakfast. Well, I know what that means. The only time this guy asks me to breakfast is to ask for a job. Long story short, I didn’t represent him because he told everybody he was retired. If I submit him as a candidate the client will respond, “He told me he is retired.” If you are retired, great. If not, keep your trap shut.
I’m Retired, Part 2 – Many years ago we sold our software company to IBM. And I retired. For real. I didn’t call everyone and post it all over social media. Simply went to Del Mar, bought a race horse and called it a day. Two weeks later a CEO called and asked for my help with talent. Hmmm…I can help my friends get jobs, support my charity work, and work when and with who I want? OK, I’m not retired.
It’s OK to Decompress – You worked like a sled dog for the last 10 years, so take a month or two off. If you have a one year non-compete, take a year off! You can’t work anyway, so why not spend time with the family or travel the world? What you DON’T want to do is take six to twelve months off because you are looking for a job that does not exist. BAD CAREER STRATEGY. You have to take compensation, relocation and market conditions into consideration during your job search. If you put half a dozen boundaries on it, and ask for way too much money, that is not decompressing. That is called being unreasonable, so get comfortable with unemployment because you will be drawing it for a long time.
The Godfather on Non-Competes – Yeah, I know, your Brother is an Attorney and says they can’t enforce it. Bahahahahaha! Technically he may be right, but your former employer will send a fleet of Attorneys to tie you up in court for a year. At which time…your non-compete will expire. If your non-compete is geographical to Nevada, you have two choices – relocate out of state or sit it out. Anyone that tells me “they can’t enforce my non-compete” is a non-starter for me.
Follow the Golden Rule – I’m amazed at how many people treat me poorly, then send a resume when they get laid off. Behavior goes to character, and I don’t have an interest in representing executives that treat everyone badly until they are unemployed and need help. Always remember this: It’s a short walk from Park Place to the park bench. And one more great lesion: Relationships trump talent. You can be the smartest guy in the room, but when you get laid off, no one returns your call. You are just one more unemployed person. Lose the ego and play nice.