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What do you do if your professional network suffers after a layoff in the Financial Technology sector?

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Losing your job in the Financial Technology sector can be a devastating blow to your career and your confidence. Not only do you have to deal with the financial and emotional stress of being unemployed, but you also face the challenge of rebuilding your professional network. Your network is one of your most valuable assets in the FinTech industry, as it can help you find new opportunities, learn new skills, and stay updated on the latest trends and innovations. But how do you maintain and grow your network after a layoff, especially in a competitive and fast-changing field like FinTech? Here are some tips to help you reconnect with your former colleagues, reach out to new contacts, and leverage your network to advance your career in FinTech.

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Frank Schwab

Board Member & Strategic Advisor
Dr. Muhammad Mustapha Ishaq (CRM, CSAA, MNES, FIFP)

Financial Econometrics | Islamic Finance | Digital Innovation

1 Assess your network

Before you start contacting people, take some time to assess your current network and identify your goals. Who are the people you already know in the FinTech sector, and how well do you know them? How can they help you with your job search, skill development, or industry knowledge? What are the gaps in your network that you need to fill? How can you add value to your network and offer something in return for their support? By answering these questions, you can prioritize your networking efforts and focus on the most relevant and beneficial connections.

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2 Reconnect with former colleagues

One of the easiest ways to revive your network after a layoff is to reconnect with your former colleagues. They are likely to empathize with your situation, offer you advice and referrals, and keep you informed about new openings or projects in the FinTech sector. You can reach out to them via email, phone, or social media, and express your interest in staying in touch. You can also ask them how they are doing, what they are working on, and what they think about the latest developments in FinTech. Be respectful, genuine, and grateful, and avoid sounding desperate or needy. Remember that networking is a two-way street, so offer to help them with anything they might need as well.

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3 Expand your network

While reconnecting with your former colleagues is important, you should also look for ways to expand your network and meet new people in the FinTech sector. You can do this by attending online or offline events, webinars, workshops, or courses related to FinTech, and engaging with the speakers, organizers, and participants. You can also join online communities, forums, or groups on platforms like LinkedIn, Reddit, or Quora, and contribute to the discussions, share your insights, or ask questions. You can also follow influential FinTech experts, bloggers, or podcasters, and comment on their posts, articles, or episodes. By doing these activities, you can demonstrate your interest, expertise, and enthusiasm for FinTech, and attract the attention of potential employers, mentors, or partners.

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4 Showcase your skills

Another way to boost your network after a layoff is to showcase your skills and achievements in FinTech. You can do this by creating a portfolio, a blog, a podcast, or a YouTube channel, where you can display your projects, case studies, or opinions on FinTech topics. You can also use platforms like GitHub, Kaggle, or Medium, where you can share your code, data, or analysis on FinTech problems or solutions. You can also participate in online challenges, hackathons, or competitions related to FinTech, and collaborate with other participants, judges, or sponsors. By showcasing your skills, you can not only improve your resume and personal brand, but also attract the interest of your network and potential employers.

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Dr. Muhammad Mustapha Ishaq (CRM, CSAA, MNES, FIFP)

Financial Econometrics | Islamic Finance | Digital Innovation
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Start leveraging thought leadership as a powerful tool to revitalize your professional network after a FinTech layoff. Instead of dwelling on the layoff, highlight your adaptability and resilience. Thought leadership is a way to demonstrate your continued engagement in the industry.

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5 Nurture your network

Finally, after you have reconnected with your former colleagues, expanded your network, and showcased your skills, you need to nurture your network and keep it active and engaged. You can do this by following up with your contacts regularly, sending them updates, feedback, or recommendations, and asking them for their opinions, advice, or referrals. You can also share relevant and valuable content with them, such as articles, podcasts, or videos on FinTech trends, innovations, or best practices. You can also invite them to join you for online or offline events, webinars, workshops, or courses related to FinTech, and introduce them to other people in your network. By nurturing your network, you can build trust, rapport, and loyalty, and increase your chances of finding new opportunities, learning new skills, and advancing your career in FinTech.

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6 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?

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Frank Schwab

Board Member & Strategic Advisor
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The financial technology sector has experienced layoffs recently. This volatility highlights the importance of proactive career management for those in the field. Building a strong personal brand, which showcases your unique skills and accomplishments, can make you more attractive to potential employers. Networking within the fintech industry expands your professional circle and can open doors to new opportunities. These strategies increase your resilience and marketability should you face a layoff.

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Dr. Muhammad Mustapha Ishaq (CRM, CSAA, MNES, FIFP)

Financial Econometrics | Islamic Finance | Digital Innovation
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Write a thoughtful article on trends contributing to layoffs, market shifts, or lessons learned from your former company. This will demonstrate your analytical skills and willingness to learn.

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What do you do if your professional network suffers after a layoff in the Financial Technology sector?

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4

5

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1 Assess your network

2 Reconnect with former colleagues

3 Expand your network

4 Showcase your skills

5 Nurture your network

6 Here’s what else to consider

Financial Technology

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What do you do if your professional network suffers after a layoff in the Financial Technology sector?

1

2

3

4

5

6

1 Assess your network

2 Reconnect with former colleagues

3 Expand your network

4 Showcase your skills

5 Nurture your network

6 Here’s what else to consider

Financial Technology

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