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Today's economic crisis is creating an economically unfeasible situation; the supply of workers in areas of weakness far outstrips demand. Jobs in construction, real estate, finance, hospitality, media, and law, to name a few have been lost in the tens of thousands and it appears will continue to hemorrhage for at least another few months. Career shifts, once the provenance of choice have now become a necessity. Having said all this, what is today's job seeker to do?
Since these are not ordinary times it's important to consider extraordinary actions. If you have just lost your job in an industry that is going through substantial downsizing you have several options to pursue. Here are some ideas you might consider.
Relocation:
There are opportunities outside of your home city and even if the compensation levels appear to be lower, often times the cost of living in those areas are lower as well. In a segment on CNN today they listed the ten best small towns to live in and these reflected not only lower housing costs but also high quality education for children, good social outlets, and most importantly, job growth. If Plymouth, Minnesota (1) or Round Rock, Texas (7) does not appeal to you, perhaps Irvine, California (4) or Franklin Township, NJ (5) might.
In the late 1980's when I was heading up an executive recruitment firm during Wall Street's downsizing, I was inundated by a daily flood of resumes. What struck me was that even in the face of shrinking job prospects in New York, the majority of job seekers insisted on looking only in New York and limited their search to strict compensation parameters. Although most of these people ultimately modified their search requirements to better reflect existing conditions, they had lost precious time to competitors who became more realistic a lot earlier. In times of mass employment layoffs across so many industries it would be prudent to cast as wide a net as possible
Reeducation:
Is there some career or job that has always intrigued you or do you have regrets about some path not chosen? If so, this may be the time to explore those areas further. Reeducation for a new career can be a viable and sometimes preferable option if there is some income coming in or a large enough financial cushion available. This has the two fold effect of enabling you to pursue another career path that may have a brighter future while at the same time providing you with some breathing room while the world works out some of its kinks.
I would advise any change to be focused on those areas where growth seems possible. Research on which industries are still hiring (eg. health care, education, software engineering) and which are poised for growth as well as related compensation would be in order. Hopefully you'll find a match between your desires and reality.
Changing Fields:
Finding a job in a different field that requires similar skills would be another approach. Evaluate your skills, both hard (those skills learned in school and on the job) and soft (people, communication, leadership skills). Using the Department of Labor's O*NET job database see how these skills might fit into other careers. Acting and thinking creatively is critical for those attempting a career change. Offering to intern for free, volunteering at trade or association events to gain exposure to a new group of people are some of the tools you can use to penetrate new areas. Effective networking becomes the key in any career change.
The not for profit industry might be a great place for your unique set of skills. Nonprofits seem to have a perpetual need for certain skills and disciplines. Not only would this provide you with some income, but it would also offer continuity on your resume, a new skill set, and perhaps even a feeling of doing good.
Move On:
This is probably your most important step. It is difficult for some people to let go of the status that their past job conveyed, consequently their job search is hindered by the memory of what was and not intent on what can be. If you need some time to mourn the loss of your status then take a few weeks off from your job search as a form of sabbatical. When you are ready to resume you can more easily focus on your skills, talents, and interests and see where your search leads.
Looking for a job or a new career is never easy and in these times can prove to be even more difficult. Persistence, creativity, preparation, research, and a positive attitude are the tools that will get you through this period.
Mary Rosenbaum is a career and transition coach, a lecturer on career issues and guest speaker on the Fox Business Network. Prior to transitioning into coaching, Mary founded and ran an executive recruitment firm for over 20 years. Her credentials include a Masters in Business Administration from NYU. Her career coaching includes job search strategies, interview coaching, networking strategies, job retention, and all related career issues.
Get more tips at http://www.careerandtransitioncoaching.com/ or contact her at mrosenbaum@careerandtransitioncoaching.com