National >> Fed predicts big slowdown in economy and rising unemployment as it battles inflation with U.S. unemployment rate seen rising to 4.4% from current 3.7%.
Local >> Fort Wayne Business, FORT WAYNE, Ind. — A September 16, 2022 Greater Fort Wayne news article shed light on the recent Ruoff Mortgage layoff of 4.6 percent of its workforce due to waning demand for home mortgages triggered by rising interest rates.
As the economy slows down, companies most always look to curb hiring and initiate layoffs due to shifting economic conditions, unforeseeable business circumstances, supply chain disruption, mergers/acquisitions, waning demand for products/services.
I know it is hard to not hit the panic button. Trust me when I say, as painful as being laid off is, on the other side you may just find the role you’ve been dreaming about as an unexpected layoff can present the opportunity to reinvent yourself. Before sending your resume out, follow these tips to ensure you are putting your best foot forward:
Determine Your Career Path
Unexpected layoff cuts deep but it is a business decision not a personal one. Take some time to determine what you would like to do by asking yourself the following questions:
- What did you enjoy most about the role you had?
- What did you enjoy the least?
- What industry is my target employer in?
- What type of company do I want to work for? (public private, nonprofit? Startup? Fortune 500?)
- Do I want to work for a small (1 to 20 employees), mid-size (21-100 employees), large (100/500 or more employees) employer?
- What is the ownership structure? Family-owned? Sol proprietorship? Multinational?
- Where is the company located? (particular city or state? A certain commuting distance?)
- What is important in terms of culture, company mission, commitment to employers?
Now, clarify the position you’d most like to have.
- What job titles are you interested in pursuing?
- What is your ideal compensation?
By taking this step in identifying what you want, you can focus your resume + your search on finding ‘right-fit’ opportunities.
Update Your Resume with Results, Not Responsibilities
If it’s been a while since you’ve needed a resume, chances are your document is filled with past responsibilities when the story your resume should tell should be anchored in the results you’ve delivered.
- Shift your focus from what you’ve done to the results you’ve delivered.
- For each position held, provide the reader with a bird’s eye view of your scope of accountability.
- Use bullet points to highlight your accomplishments.
- Remove older, outdated information that isn’t in alignment with your current goal.
Optimize Your LinkedIn Profile
Your LinkedIn profile shouldn’t be a copy and paste of your updated resume but rather an opportunity to share more about your value offer, experience, and track record of success. Add keywords to bolster your findability and increase your online presence by publishing articles / thought leadership posts.
- Who are you professionally?
- What value do you offer your next employer?
- What keywords are associated with your industry / role you are pursuing?
- Ask for recommendations / give recommendations.
Think about your career milestones + greatest successes and weave them into your about me / summary section. This helps potential employers get to know more about you and shows you have a track record of delivering results.
Leverage Social Media + Your Network
Now is the time to clean up your social media pages and lean into your network. Employers and recruiters turn to social media sites in search of talent (especially LinkedIn).
- Remove questionable posts, photos, or tags.
- Look to your network for idea, leads, and referrals.
- Ask for help. Most people will be happy to help you — but you need to ask!
- Be specific in what you’re asking for. A specific request for assistance (“Does anyone know someone who works in the accounting department at Company X?”) is more likely to be fulfilled than a general request (“I need a new job! Help!”)
Secure and Prepare References
Prepare your references to be contacted by giving a copy of your updated resume to those individuals you’ve asked to be a reference in your job search.
If this most recent economic shift has impacted you and you’re looking for your next opportunity after being laid off, use these tips to help you secure interviews and land your next role faster.
By doing your research, highlighting your key accomplishments, and staying positive, you’ll show employers that you’re exactly the candidate they’re looking for!
Need help positioning yourself for your next role? I’m here for you. With more than 20 years of experience helping Business Development Managers, Financial Managers, Banking Managers, Sales Managers, Human Resource Managers, Project Managers, and other mid- and senior-level professionals just like you make a great first impression. We can guide you through the process of creating an amazing resume that will open doors!
Contact us today to learn more about how we can help!