Career Success Coaching

If you find yourself in the midst of a layoff, don’t despair. There are many things you can do to soften your landing and begin your job search.

First, review my article on layoff preparation and complete those steps as quickly as possible. Then, make sure that you:

1. Create your personal “parachute.”  Explore the company policy manual to find out what you can expect from the company as standard practice and ask for what you want. Don’t be afraid to negotiate! Employees have more power than then know in these situations. For example-

• Use all “outplacement” services available to you
• Address all medical needs, particularly if your deductibles have been met
• Submit claims to flexible spending accounts to avoid forfeiting any balances
• Use vacation time or get paid for it
• Find out how unvested stock options will be handled
• Request information on benefit continuation – firms with over 20 employees are required to offer COBRA – health insurance at your expense

2. Avoid the urge to rush. Never sign anything without having an opportunity to review the termination agreement thoroughly yourself, and with your financial and legal advisors.

3. Register for Unemployment Compensation. Go to you state unemployment office immediately and register for unemployment compensation. If you wait too long you may become ineligible.

4. Reduce Expenses and Save Money. Unless you are independently wealthy is important that you cut your expenditures to the bone when you lose your job. This will allow you the maximum amount of time to find new employment without taking a job just for the income.

5. Professional Resume. Bring your resume and cover letter template up to date and have it reviewed/rewritten by a professional. Contact me for the Certified Professional Resume writer I use with my clients.

6. Ramp up your network. Make a list of everyone you know and divide the list into the A, B, and C groups. Spend at least one to two hours a day networking with the A group, people who might be helpful in identifying a new job, whether they be friends, former co-workers, colleagues, customers or clients.

Attend as many professional association meetings as you can.

Identify job search support groups and attend at least one per week. Not only will this expand your network, it will also provide you needed moral support.

7. Identify and connect with three executive search consultants / recruiters who specialize in your industry and functional area. Type the words recruiter or executive search consultant, your job title or similar words, your industry and your geographic area into one of the search engines. For example, “Recruiter Boston Portfolio Manager financial services” and you will create a list of recruiters who service this industry and functional area. You can check out their web sites and select three whom you find appropriate to your needs and to whose site you are drawn to.

8. Start searching. Visit the major job boards as well as those that specialize in your industry and functional area. Also check out the web sites of any relevant trade and professional associations and companies where you’d like to work for job postings.

9. Develop contacts. Try to have a contact in the organization to which you are sending your cover letter and resume. Use the company web site, your network, LinkedIn or call the receptionist, but don’t send a resume without someone to address it to. It’s a waste of your time and your stamp.

10. Brush up on your interviewing skills. Develop your own answers to the most commonly asked interview questions. Click here for my special gift to you: The Best and Worst Answers to the Most Commonly Asked Interview Questions. Also, develop questions you want to ask of an interviewer. Role play with family members or friends based on a job description that appeals to you. Better still, work with a career coach to develop proven strategies and skills to nail your interviews and negotiate the most favorable compensation package you can.