Wednesday, August 11, 2010

I Was Downsized Over One Year Ago - When Should I Start Looking For a Job?

By : Jim Carlson

(This was a question submitted to me this past weekend.)

Seriously, there are so many articles in print, TV, and the Internet about loss of jobs and the difficulty in finding new jobs the message should be apparent.

My quick response was an emphatic "YES" and "start your job hunt IMMEDIATELY." In many instances, downsized employees are given a severance award and following the severance award, unemployment benefits start. Seriously, it feels good to take a break from the work-a-day-world and kick back...

I know. I've been downsized and so have many of the clients I support.

My advice was and is plain and simple: You can not wait and should not wait to begin an all out, serious job search to find your next position. Clear your head, take a few day sabbatical and then focus on finding your next job. No excuses, no side-tracks, no projects around the house. Monitor your spending. Begin the search to find your next job without hesitation.

There could be a compelling reason, such as, "My spouse has a substantial job and we agreed that I should take a family leave and spend time raising our child." Or there may be a parental care issue and the timing is spot-on to take care of that aging parent. In today's world with couples both working, often times things happen for a reason and the timing works out.

But to find your next job is a full-time, six-plus hours a day, concentrated effort. Statistics show again and again that over 80% of jobs never reach a job board or are posted. Up until a few months ago, the number of jobs lost out-distanced the number of new jobs. You need to be on-target and job-focused immediately.

More of a compelling reason might be the ability to bank the monies from a severance package. This could make a significant difference in your life if you treat the severance package as "found money" and invest wisely, or just put into a safe investment with a withdrawal penalty so you would not be apt to take money out unwisely.

A final point concerns pre-planning: If you have followed advice from articles and awareness and kept your resume updated every six months (end of year and Fourth of July), then your ability to move into job-search-mode will be much easier to accomplish and your job search can begin immediately.

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