How do you keep yourself in check during unemployment?

It's tough. For some of you, it's nearly impossible to get a job.

Let's take a look at the unemployment figures in Malaysia. Each year, approximately 300,000 students from both private and public universities graduated and they are thrust into the frenzy job search to land a job.

Last year, when Covid-19 hits Malaysia and our government imposed 2 lockdowns so far, up to 800,000 Malaysians have lost their job. If you combined the total figures of the graduates and the number of Malaysians who had lost their job, the number will be at a staggering 1.1 million unemployed Malaysians. That's a huge number and we don't have enough jobs available in the market.

So, what can you do to keep yourself in check during this tough period?

While the outlook of the economy is still looking bleak, here are some of the things you can do as a jobseeker.

Look at your finances daily

One of the biggest mistake that most jobseekers made is that they don't manage their finances on a daily basis.

Imagine if you're unemployed and you're still spending your money on unnecessary junks to comfort yourself, you're ditching your money away. Your entertainment plans like Netflix or online shopping should be cut to a bare minimum.

You should plan to live broke for a few months. Going broke can help you to extend your finances until you get a new job that can pay your expenses. Let's say you're spending RM 3,000 a month on your expenses like food, entertainment, shopping and junks. Well, you'll definitely need to cut that to about RM500-1000 a month.

This will ultimately mean that there will be no more Netflix, no more going to the movies and cutting out on shopping. Then, you should look around your house to sell whatever things you don't need to get some income for your expenses. You can proceed to list your items on Mudah.my or Carousell to sell it. This will get you some much needed money during your tough times.

Identify Your Strengths and Weaknesses using SWOT Analysis

Have you heard of SWOT Analysis?

If you haven't, please go to my profile and search for my documents there. I've posted a summary of SWOT analysis some time ago.

Basically, SWOT Analysis is a tool to analyze where are your potential strengths and weaknesses in your life and how you can utilize your strengths to carve out opportunities and be self aware on the threats.

As a jobseeker, I believe you can either be a victim or a winner in whatever the circumstances. By doing a SWOT Analysis, you can actually develop a winner mindset to take charge of your life and become successful.

Finding a job is not easy either. But when you do a job search that matches on your strengths, then it becomes easier as you may have sufficient knowledge on what is needed to do and how your strengths can become an asset for your potential employer.

Invest In Yourself

Time is your best friend when you're unemployed and you're searching for a job.

The best way for you to do is utilize and maximize every single minute to upskill yourself. If you are unsure of where to start, let's take a look at LinkedIn Learning.

LinkedIn Learning is available when you subscribe for a free trial for 30 days on LinkedIn. At most, you'll only be charged RM1 for the free trial. Pick the career plan to start when you're prompted to select your preferred offer and you're good to go.

You can easily find any LinkedIn Learning courses which are available in video format and complete it. You will also get a LinkedIn certificate for that particular course once you've completed already.

Another alternative which is available for every jobseekers is the HRDF trainings provided for free by the government. As long as you fall under the category of unemployment, you're eligible to take the courses and you'll also get certification upon the completion of the course.

Keep Your Resume Updated

If you want to get a job, you will have to stay relevant in the game.

Take a look at your Jobstreet profile or LinkedIn profile. Is your resume updated for the past 3 months? A resume which have been updated for the past 3 months have a 60% higher chance to be called by recruiters and 30% chance of getting shortlisted for interview. This is based on what I've observed over the past 3 months and 10 job applications.

It is best not to leave anything blank if you have been unemployed for quite a while. I would suggest you to put any latest jobs that you recently did, even if it's on a part time or freelance gigs. By putting it, you will most likely be able to show to recruiters or hiring managers that you're still committed to do jobs according to your strengths.

Network Equals Networth

Your network equals to your networth. How many of you have heard about that?

Contacts equals contracts.

~ Grant Cardone, MR 10X

The more people you know, the more likely you'll get referred for a job. This is the way you will most likely to get a job in the 21st century.

So, what's your network? How many people do you have in your network? Most importantly, how many influencers and decision makers of companies do you have in your network?

Let's take a deep dive into your LinkedIn connections. Are you utilizing LinkedIn correctly to get your desired job? Do you have a personal brand which helps you to stand out?

If you only have your high school friends as your connections, you will need to step up the game. Build your own personal brand. Take the courage to send connection request to influencers and decision makers. Drop them a message stating you'll love to connect and learn more from them. After all, they don't bite.

Treat LinkedIn as your long term job search partner and your career growth journey. Give it a go for a year and you will notice the difference.

Final Words

So, what's stopping you still? Are you unsure of whether this will work out for you?

Well, if you are reading this for the first time, make sure to follow me on my LinkedIn journey where I will be sharing my real life stories of what has happened and how I get through every challenges and obstacles with an infinite mindset.

Until then, go ahead and take the first step by managing your finances. You will be thankful on how much you can save or earn from your unwanted belongings.

Take care and stay safe.

Signing off,

Cazey Tan