Laid Off?: Tips for Finding That Next Great Career Opportunity! – Layoffs were a few here and there up until this month. Now they are in mass, hundreds at a time. I’m receiving resumes of executives laid off after 20 years with the same company. So, it’s time to roll out The Godfather’s career advice for those in the RIF (reduction in force).

  • Never Resign Until You Have Another Job! – Number one tip. If you are unhappy at work or think you will be part of the next layoff, ride the pony until you find a new gig. Don’t quit! Gainfully employed executives are far more attractive to hiring companies than unemployed ones. P.S. – Make your job search a priority.
  • Don’t Rant About Your Crappy Former Employer – I get it, you are pissed off. Thought you were indispensable. How could they possibly RIF you? Listen, if you die tomorrow, they will replace you on Monday. Those guys at the top receive up to 80% of their compensation in the form of stock option, and they will do whatever is required to keep the stock price up. That includes reducing head count when revenues are falling.
  • Don’t Rant About Your Great Former Employer – Yeah, yeah, yeah. It was a good run, move on. They forgot your name the day you walked out the door. Truth? If they loved you so much, they would have kept you.
  • Online Job Postings – If you make $50,000 have at it. Numbers game. But if you make over $100,000, don’t apply online. You will be one of 500 people applying today. You know who utilizes online job postings for senior level roles? Lousy, cheap companies you don’t want to work for!
  • Stay in Touch with Your Professional Network – Did you know 85% of job opportunities are referrals from your professional network. I try to drill this into candidate’s head: Build the bridge before you need to cross the river. If you only call people to ask for a job, no one will call you back.
  • Executive Recruiters – Let’s face it, they have the best jobs. If a company is willing to engage and pay an Executive Recruiter, they are the real deal. They don’t see executives as a commodity. Don’t know an Executive Recruiter? Reach out to your professional network for a referral. The wrong time to meet an Executive Recruiter is when you are unemployed. They get people for jobs, not jobs for people.
  • Be Reasonable About Compensation – This is the number challenge I see post-Pandemic. Executives demanding a 40% salary increase and to work from home. Nope! Those days are over. With all the layoffs, finding a job is now a competition. Don’t price yourself out of the market.
  • Can You Relocate? – If not, you will be limited to the local opportunities, and in the case of Las Vegas, that is not good. Companies are firing, not hiring. Find a local Executive Recruiter; they will have the local job opportunities.
  • Did You Really Retire or Resign? – Had a great candidate for a million-dollar job. Unfortunately, there was a press release stating he retired, and the hiring company opted not to interview him. The same with resignations. Do you know how many people told me they were laid off or terminated over the last 20 years? None. Just be honest, especially if you are working with an Executive Recruiter. No one will think less of you.
  • Pursue Your Hobbies – Here is something to consider when you are on the bench. I see so many one-dimensional executives. Work, work, work. Your job is not your identity. It’s an end to a means. Use the time off to focus on other facets of your life. During the Pandemic, I Spanish and piano lessons.
  • Take a Sabbatical – Another great alternative: Take some time off with the family or travel the world. Careers are important, however your relationship with family and friends is far more valuable. You can always make more money, but Father Time is undefeated.