Layoff: Career Change an Option?
News of a layoff can invoke fear, anger and sadness. You’re left wondering what happens next? Am I entitled to severance? What are my rights? Do I qualify for unemployment? How do I go about finding a new job? It is possible that after you find the answers you’re looking for you may actually have a whole new set of questions starting with is this a good time for a career change? Was my job satisfying? Did I make the money I’ve always wanted to? Am I living where I want to? A layoff may be the perfect time to consider making changes in your career and life.
Whether you knew it before receiving notice or not, taking time to evaluate your situation while laid off is important. It enables you to hone in on what jobs and companies you should be looking at in your job search. It also may lead you to something you never considered - a career change. Whether it’s a new profession, a return to school or a move the options are endless. Maybe you’ve been working at a job that paid your bills and allowed you to spend time with your family. You appreciated it for those reasons but it never fulfilled you professionally. What better time than the present to mull over life altering choices you may not have otherwise considered. At this point, ponder the following:
Tip #1: Recognize your environment. While a change to a career in healthcare may be promising in a down economy, considering a move into real estate may be devastating. Don’t forget to research what salary you can expect in your ideal position, what companies are hiring for that position, what hours will you be working and how will the change affect you and your family.
Tip #2: If your plans involve furthering your education, make sure your investment of time and money are going to be worthwhile in the long run. If you will be spending the next ten years paying back student loans, will you be making enough money in your new career field to pay your mortgage? There are unlimited scholarships and grants available to students. How hard are you willing to work to find them? In the e-world we all live in there is no excuse for any student to continue his or her education without free funds.
Tip #3: Don’t out-price yourself. Make sure that getting that MBA really is a selling point in your future line of work. So many people opt to further their education only to realize they may have been more desirable to companies had they better aligned their education with the requirements of the positions they would be applying for fresh out of school. When the employee pool is overflowing, companies won’t be interested in paying someone more for a degree they don’t need.
Tip #4: Is the grass really greener? Prior to making any life altering career-change decisions, make sure you know what you are getting into and have done your due-diligence by researching. Be smart and patient and try to make decisions based on facts and not emotion. You’ll be glad you did in the end!
