Here's how you can explore alternative paths after a corporate accounting layoff.

1 Assess Skills

Begin by taking stock of your skills and experience. Corporate accounting has likely provided you with a strong foundation in financial analysis, budgeting, and compliance, all of which are transferable to many other fields. Consider how your expertise in creating financial statements or managing audits can be applied in different contexts. For example, your analytical skills are valuable in data-driven roles, while your understanding of financial regulations can be an asset in compliance positions outside the corporate accounting sphere.

2 Update Resume

Next, update your resume to reflect your versatility. Highlight your accounting experience while also emphasizing the broader applicability of your skills. Tailor your resume for each application to align with the job description, using keywords that resonate with recruiters in various industries. Showcase achievements that demonstrate problem-solving and adaptability—qualities that are prized in any sector. Remember, your goal is to paint a picture of a professional who brings value beyond just number-crunching.

3 Networking Push

Networking is crucial after a layoff. Reach out to former colleagues, join professional associations, and attend industry events to make new connections. Use social media platforms like LinkedIn to engage with industry leaders and participate in relevant discussions. This will not only increase your visibility but also give you insights into emerging trends and potential job openings. The relationships you build through networking could lead to opportunities that aren't advertised publicly.

5 Start Freelancing

Freelancing can be a viable option for corporate accountants post-layoff. Platforms dedicated to freelance work provide opportunities to take on projects that match your expertise. This approach allows you to maintain an income while exploring different industries and company cultures. Furthermore, freelancing can help you build a portfolio of work that demonstrates your capabilities to future employers or clients, possibly leading to a permanent position or a successful independent business.

6 New Industries

Finally, don't limit yourself to the finance sector; consider industries where your accounting expertise is needed but might be underrepresented. Sectors like healthcare, technology, and non-profits all require financial acumen but offer different challenges and work environments. Research companies in these fields to understand their specific needs and tailor your approach accordingly. Your corporate accounting background could provide a unique perspective that is highly valued in these areas.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?