Reclaim Your Career: The 10-Step Guide to Bounce Back from a Layoff | Layoff Survival Series 3 of 3

Key Concepts

Layoffs, bouncing back, processing emotions, packaging your story, layoff materials, finances, daily routine, job search plan, marketing materials, networking, skill building, job search challenge, reference vs. reference letter, career achievements journal, resume as a marketing document, boss hunting, power story, yield per attempt.

1. Processing the Layoff

• Reflect and Attach Meaning: Experience is defined by the meaning attached to it, not the event itself. Assume the layoff happened for your own good, even if it doesn't seem like it initially.
  • Example: The speaker recounts being "passive aggressively" laid off after generating millions for a company. He used it as motivation to start his own recruitment firm and turn his former employer into a client.
• Avoid Negative Reactions: Resist the urge to immediately complain on LinkedIn or blame the employer. This can create a negative perception.
• Importance of Order: Follow the steps in the presented order for a faster and more effective comeback.

2. Packaging Your Story

• Concise Explanation: Prepare a one-sentence explanation for why you left your previous job.
  • Examples: "We were in financial trouble, and the organization let go 86 people; I was one of them." "My organization was moving my entire unit to New York, and I live in Texas." "My organization outsourced this entire arm offshore."
• Shutdown Story: The explanation should be definitive and not invite further questions.
• Video Resource: Refer to the speaker's video on "The best way to explain your layoff in a job interview" for detailed guidance.

3. Getting Layoff Materials in Order

• Negotiate Severance: Work with a coach if needed to negotiate the best possible severance package.
  • Negotiable Items: Employee of record status, severance payment schedule, stock option vesting, departure letter terms.
• Reference vs. Reference Letter: Focus on securing a reference from your former boss, not a written reference letter. Recruiters are unlikely to read reference letters.
• Shutdown Message: A reference from the company that laid you off sends a strong message to potential employers that you left on good terms.

4. Getting Finances in Order

• Unemployment Benefits: Determine eligibility for unemployment benefits.
• Financial Assessment: Take stock of your financial situation, including emergency funds.
• Part-Time Job: Consider a part-time job if necessary.
• Interview Intervention Book Package: A resource for financial checklists and organization.

5. Designing a New Daily Routine

• Structured Schedule: Create a detailed daily schedule, even if it includes non-job-search activities.
• Discipline: Stick to the routine to avoid wandering and maintain focus.
• Early Victories: Incorporate activities that provide early wins, especially in the job search.
• Example: The speaker shares a story about a friend, Chuck Perakini, who rented an office and maintained his work routine after being laid off, leading to a quick job offer.

6. Putting a Plan Together (Before Contacting Anyone)

• Avoid Immediate Action: Resist the urge to immediately update LinkedIn or complain online.
• Strategic Approach: Develop a plan before notifying your network to ensure you can effectively guide their assistance.

7. Developing a Job Search Plan

• Requirements: Define your ideal work environment, including boss type, compensation, company culture, and work arrangements (travel, commute, hybrid, etc.).
• Job Search Path: Determine the types of organizations to target based on your requirements.
• Company List: Compile a list of target companies.
• Networking Map: Identify individuals within those companies who can help you.
• Surgical Targeting: Focus on surgically targeting key individuals rather than sending mass emails.

8. Getting Marketing Material Together

• Career Achievements Journal: Document key information for every project you've worked on. This serves as an inventory of data for your resume.
• Resume Template: Use a resume template to create a marketing document tailored to your target audience.
• Resume as Marketing: Tailor your resume to highlight how you've solved problems and achieved goals for previous employers that align with the needs of your target companies.
• LinkedIn Profile: Update your LinkedIn profile.
• Boss Hunting: Identify and target individuals who can give you a job, bypassing traditional application systems.
• Power Story: Develop a singular, compelling story that demonstrates your ability to solve problems and achieve results in a similar role or industry.

9. Contacting People (After Preparation)

• Job Search Challenge: Implement the job search challenge: contact three different people at three different companies each day.
• Targeted Messaging: Send boss hunting or networking messages that move you toward an interview.
• Interview Frequency: Aim for an interview approximately every three days.
• Yield Per Attempt: View each attempt (message, call, etc.) as valuable and contributing to your ultimate goal.
• Recruiter Analogy: The speaker shares an analogy of an executive recruiter who gets paid only two days out of 22, but those two placements are worth a lot of money.

10. Leveraging Your Network

• Specific Questions: Ask targeted questions when contacting your network, such as "I'm targeting these companies. Do you know anyone there?"
• Case Studies: Refer to the speaker's case studies page for examples of how others have successfully leveraged their networks.

11. Building Your Skills

• The Zebra Code: Use the speaker's book, "The Zebra Code," as a blueprint for building career skills that make you a standout professional.
• Certification Training: Consider certification training if it aligns with your long-term career goals and will provide practical skills.
• Avoid Meaningless Certifications: Don't pursue certifications solely for the sake of adding letters after your name if you won't use the skills.
• Professional Development: Prioritize ongoing professional development.

Synthesis/Conclusion

Bouncing back from a layoff requires a strategic and proactive approach. It involves processing emotions, packaging your story effectively, organizing your finances, establishing a routine, developing a targeted job search plan, leveraging your network, and continuously building your skills. The key is to be intentional, focused, and persistent, viewing each action as a step closer to your next opportunity.