Here’s what to do if you find yourself in the latest redundancy round
Last week, I wrote with sadness about the professionals who are being delayered from the Big 4 accountancy firms. Since then, I’ve had a few pertinent sessions with some of my mentees about how best to set about targeting their next roles. In this article, I’ll share with you the main discussion points.
It’s distressing for any executive with a successful career to find themselves out of work for whatever reason. But let’s focus on when it happens to you out of the blue. My first reaction is to question how astute you’ve been in not anticipating the possibility of this turn of events. (You need to manage your career as if you’re self-employed, because your employer sure isn’t going to do it for you!) That aside, how do you recover from the setback and set yourself up for a new job?
The first realisation to take on board is that finding a new role is a full-time job in itself. Success will invariably come to those who understand this and build a plan around the mathematics. (Sorry folks, it’s a numbers game.) If you only contact a couple of headhunters and respond to a few job ads on LinkedIn, then being out of work could last quite a long time. Given the poor way in which the recruitment industry works (it depends far too heavily on databases) you need to go large – i.e., reach out to as many search firms as you can find. This means at least 60.
Before you hit the market, however, you need to a) decide what you’re looking for, and b) ensure that you have a shrewd understanding of who you are. Are you seeking a promotion, or a move sideways? If it’s a promotion, then ask yourself if that was scheduled to happen before you were let go. If it wasn’t imminent, then aim for a similar role to the one you’ve just left. Getting back on that horse will pay off sooner than trying to turn the opportunity into a potential pay rise.
Lastly, in this sad context, don’t feel you have to give lengthy ‘War and Peace’ answers when asked why you were let go. Folks don’t want to hire casualties – they are looking for class acts who know what they want to do and have a spring in their step.? Restructuring happens all the time – what’s more, some of the best people inevitably end up in the mix of those being let go. Brush aside what has happened and move on with positivity and determination. That’s what the best do!
Andrew Garner is an executive senior management and C-suite mentor. He is the author of the career management manual: ‘Your Career Satnav… Switch It on!’? Get your copy here.