It’s fine to take time off to recharge, but don’t mistake your severance period for a paid vacation. Use that time to start your job search while you still have a cash cushion. Don’t wait until you are running out of money and then cram in an anxious and desperate job search.
Run your numbers on how much cash cushion you have (given severance, savings, and so forth) to give you a timetable for your job search. A proactive job search typically takes three to six months. If you need money coming in sooner, you might want to build in time for temporary or consulting work in addition to your job search.
Your job search is now your full-time job. Schedule time for specific job search activities. Prioritize your job search so you are not tempted to spend this new “free time” reorganizing your house or doing non-career-related projects.
KEY TAKEAWAYS
Changes in the broad economy, your industry, your organization’s financials or management, or the feedback you are getting may signal a potential layoff.
- If you do get laid off, manage your termination process to get the maximum support to which you are entitled.
- Before you leave an organization, collect contact information and say thank you. Relationships with your former employer are still important.
- Don’t wait too long to start your job search, so you won’t feel rushed or pressured to land a job right away.
EXERCISES
- Start the habit of following the broad economy and your target industry. Add The Wall StreetJournal, Financial Times, Fortune, BusinessWeek, or other general business publications to your reading list.
- Compose a checklist for yourself with what you need in a layoff situation so that when you start your new job, you have it as a reference tool. Remind yourself to keep personal contact information somewhere other than just on your professional equipment. Remind yourself to review your organization policies and build relationships with HR before you need them.
- 1037 reads
