Issue #17 - "I've been Retrenched. Now, what?"

Issue #17 was going to go a different direction - I had it all written up.

But in light of recent developments, that warrants a temporary re-direction.

In recent weeks, there has been whiff of another round of retrenchments going on - Shopback, Shien, Ninja Van, Samsung, Dyson...

I imagine more will come as the year closes; it has after all been a pretty brutal one for most businesses.

This particular exercise had affected some of my personal friends, which is why instead of taking a nice Sunday afternoon nap with my kids as I have mostly done the past x number of Sundays, I have decided to pen this quick piece, in hope that it offers a glimmer of sunlight come Monday morning.

The Era of Retrenchments

I wrote in issue #6 about the Era of Retrenchments (That was almost 6 months ago now! Mind-blown!). It focused aptly on how larger corporations can still own the narrative despite much of the brunt being borne by them.

A human-centric approach to what are increasingly common business cycles means that you create a workforce that is resilient enough to weather the storms, while retaining enough of your brand reputation to attract the best talents again when the storm has passed.

Do check that out if you haven't:

The bigger focus that I wanted issue #17 to have today, is on YOU.

"I've been Retrenched. Now, what?"

Retrenchments and layoffs are highly emotional situations, regardless whether we choose to acknowledge it or not.

It is common for laid-off employees to want to wipe that chapter off as if it hadn't happened, by jumping straight into job-seeker mode. Part of me imagines that that will be me too when the time comes, but here's why it could potentially backfire.

Think of the emotions that ran through your head as you heard the announcement.

When you were sitting in that room where your boss and the HR rep was informing you of the situation, your package, and the support you would be given.

Then, depending on your individual situations, some of you may have been escorted straight out of the office by security, in front of hundreds of other employees.

Other more sensible workplaces may have pre-arranged your exit interview to happen at a more discreet location in the workplace, where your exit could happen more covertly.

Regardless of which, it surely must have felt. Like. Shit.

Then comes the part where you need to break the news to friends and family.

Gone are the days where you could keep your retrenchment under wraps. These days, the media has it reported before you even made it back home from your last day. The messages will come in, the questions will land.

And perhaps, just perhaps,

You spend the next 2 or 3 days buried under your pillows.

And you've managed successfully to put away the embarrassment, anger, sense of betrayal, loss, grieve, disbelief and sealed it within the depths of your human mind.

You've built a narrative that, "I am okay. In fact, I am great! And I am ready to go own the world again!"

All's good.

Until,

You get this question at your next interview:

"Were you part of the retrenchment exercise? Why were you retrenched? Was it performance?"

Or one of many other possible questions that trigger those kept-away emotions you thought you had safely boxed up.

So instead, here's a couple of suggestions where you can get right back in the job-hunt AND still work on delivering that gold-star pitch when the time comes.

3 Practical tips from Brian Liu, PBM

In the week that has passed, I have seen many pieces in the community that has sought to stand in solidarity with those affected by recent retrenchments.

One of those I particularly loved was this one by Brian Liu, founder of Be The Good, a L&D focused practice addressing organizational and leadership development.

His three tips:

1. Go Shopping! - If we want to be effective in our job hunt, we are going to need a functioning laptop, monitor, work desk (especially now that we have returned all that to the company). These seemingly unimportant parts could add to our productivity that can get us back on our feet faster. My personal addition to that would be subscriptions that may be useful in that aspect. LinkedIn Premium that can give you insights to skill demands in the marketplace, Zoom, Calendly, HBR, Canva, Google Drive subscriptions that can add to your capabilities as a "solopreneur-for-now" status as well. Make an assessment, and don't be afraid to dish out the dollars for a bigger reward later on.
2. Tell your family and friends - I know that it could be tempting to hide the news from the people around you (especially if it's shame you are feeling), but remember that these are people who will always be behind you. And news will spread anyway (even if you try to hide it). Control your own narrative, tell your own story, and lean in to the support of your networks that may help put you back on the market faster.
3. Get out of the house - A 7-day marathon Netflix binge may sound tempting now, but the impact will hit as badly as a revenge eating streak. Rather than create an incubator for all your negative feelings and emotions, head out. Meet people in the community, get your workouts done, start that new hobby. Fill your additional time with meaningful activities that pour into your inner cup, rather than draw from it.

5 Additional tips from Me

Adding to Brian's 3 practical tips, here's another 5 from me that can help get you back into the game faster than blindly restarting your job search:

1. Understand your Positioning

Use the additional time on hand to do some inner work, and solidify your pitch. What has your most recent job experience told you about what you are best equipped to handle, and what you aren't?

Do you do stress well? Are you methodical?

A pacifist, or an agitator?

Understanding where your strengths lie could be a good step to developing a pitch that you can consistently use to showcase the value of your personal brand to potential employers. Check out Strength Profile or CliftonStrengths for comprehensive reports that help put useful vocabulary to what you probably already know yourself.

Talk to one of many strengths coaches or take a workshop to have a deeper understanding on how to play to those strengths.

2. Utilize those Free Resources

Most of the workplaces that layoff employees will usually provide a series of support initiatives, complimentary for a couple of months. Coaches, counsellors, career advisors among others.

You may be skeptical, or allow you ego to tell you that you don't need them.

But remember these are resources nevertheless. Take some time to understand what each of these are, and how they can help. Mindset work? Cool. Resume upgrade? Love it! Tips on acing interviews? YES!

Outside of the company's support are also tons of free resources on the net. Articles such as the one in #TheMondayPlaybook, content from thought leaders in LinkedIn, Instagram and Tiktok, and also the occasional offer for complimentary 1:1 coaching that some coaches (including me!) are offering for affected personnel.

Please reach out if you would like to understand more on how you can get access to those - I can link you up!

3. Work on your LinkedIn Profile

Your LinkedIn profile is not simply a CV, but a landing page for which potential recruiters and employers scour for their ideal candidate.

Take some time to beef it up.

A professional headshot with an added dash of personality, an "about me" section that stands out among the crowd, a deliberate LinkedIn banner that isn't some random sunset picture, a featured section that works consistently with your personal brand, etc.

There is a treasure trove to discover about optimizing your LinkedIn profile, which is why we are seeing this platform become an increasingly useful one for professionals like you and me. If this is something you would like to work on, please also reach out so that I can get you connected to the right resources.

4. Talk to a Headhunter/ Recruiter

2 of my last 2 job placements were closed by talented headhunters.

Do not be mistaken - I applied to many jobs during those hunts, but it was the jobs where I was represented by headhunters where I was really able to shine and be my best.

Think about it - How often have you seen the "ideal job posting" on the LinkedIn Jobs section, only to find that you are 1 out of 100s of candidates who applied for it.

I have applied for jobs that I was a PERFECT FIT for, but have never gotten a response back from the hiring company.

The challenge is that the amount of noise in the job market doesn't serve jobseekers well.

Neither does it help hiring managers.

Headhunters/ Recruiters help to bridge that gap for premium employers who are able to fork out a little more to ensure that they get quality for their hire. The good headhunters are also willing to put in the time to understand the talents they are representing, so that they enable the best employer to employee fit.

On top of that, headhunters and recruiters are in the position to advise on industry sentiments, job market trends, hot areas of demand and other information that are invaluable to a jobseeker like you.

If you come across a good one, make sure to ask a favor from them to audit your CV as well as your interview pitch. They could provide much needed perspectives that can help you ace that next job. That said, please also treat them well. I still meet up with a couple of headhunters from time to time, not exactly to sense the market, but to show appreciation for the relationship we have together.

5. Lean into the support of Communities

Last, but DEFINITELY not least.

The power of communities cannot be under-estimated. I have had the privilege of being part of empowering communities with growth-focused individuals whom have helped lifted me up in times of need.

Most of us will already have a community from back in school. Start connecting to ex-classmates, schoolmates, ex-colleagues, and lean into those communities, whether it is a listening ear or advice you seek.

Outside of that, social mentoring communities such as Stories of Asia or Mentoring SG have provided an additional level of much-needed support to career builders such as you and me. Many of the people in these communities are like-minded in that they are forward-looking, collaborative, and community-focused, which creates an incredible environment for one to learn about best practices amidst the negativities that sometimes fill the voids in-between.

Do follow these communities and join those events to find out for yourself! I would also love more recommendations for similar communities, so please send them all to me as well.

Closing

Retrenchments are hardly the end of the road, even if they may feel that way for now.

Also, the additional time you now have because you are freed from your 9-6 can both be a blessing or a curse depending on how you choose to look at it, and how you choose to best utilize it.

I truly hope that you see the opportunity that now presents itself to you.

Here's the chance for change.

For learning and growth beyond what you have experienced in the last x years of your job.

The begging question now is: "Are you ready for it?"

Always rooting for you,

Jevon

Why am I writing this?

Hey guys, I am Jevon (Jiehan) Yang, a coach and finance professional with 10+ years of experience working in various MNCs! Many corporate employees like me have a love-hate relationship with their workplaces; there are some perks we enjoy about it, others not so much.

That said, I believe the key to thriving in our workplaces lie in how we take ownership of our work-life narrative.

As individuals, how do we care more for the organizations we work for, and own our shared values beyond the job titles we hold?

As people managers, how can we do the best for our people beyond their performance at the workplace?

As corporate leaders, how do we construct a Future of Work that individuals and managers can both be proud to call their own?

The Monday Playbook holds these conversations, and more.

We look forward to hearing your thoughts about it too!

Yours Truly,

Jevon