Friday, November 5, 2010

Job Search - avoid personal bailout

Whether looking for a job today or the possibility of having to fear the dust of your back involuntarily in the near future, you should be aware of financial risks. These risks need to drive in your feel a sense of urgency to create a force in a proactive strategy and executing your job search.

The reality is that the consequences of unemployment is full of ups and downs. The heights are to demonstrate the excitement of an interview andWay in which research will be yours) is the perfect position (great boss, more $ and a really short trip. - The depreciation may eventually staggered to her and painful to accept, especially when for most, if not all of your career have been made. It 'possible that your personal finances could get so bad during the transition, we even have to bail out?

What would be the equivalent of a bailout of Wall Street are in your house? How bad can happen and it's really possible?

Here isthe institution:

1. Are you (insert title here) is a popular and sophisticated in your company. Do you have a year and have made good progress to help your business grow and become more profitable unit. Although not wealthy, they live comfortably and have some savings (say, having two months' salary).

2. One spring morning, makes a surprising press release announcing your desktop into a partnership with one of your major competitors. Hmmm. Well, say that itsinteresting.

3. The next day, during an impromptu session, you learn that your company is acquired by the competitor (which is increasingly the case).

4. Despite the threat, it is assumed that your optimistic crucial role, "released" for the company and the chances of your being is not likely at some point.

5. They doubt the first round of cuts, quiet high-fiving 'another on the list of separation.

6. A month later, cut # 2 comes and you're gone down the hall, where it divides your boss and HR representative, the news of your separation. This is two weeks for each year of service (you have a job) are offered. Fortunately for you, the company has a minimum threshold of one-time payment of 8 weeks - starts on Monday.

7. Watch Monday at the kitchen table in his pajamas, sitting and shook his head. You turn on your computer and look for two things. The list of advertisers who have worked with 12-15 months and the bookmarks that you wish all that saved> Job Search Engines. Set alerts on Monster and Yahoo Hot Jobs and write a couple of keyword results. Calls and messages for the 3-4 recruiters who called you again last year.

8. Watch Monday, after the kids are asleep, you and your spouse have a conversation positive and optimistic about the prospects, how to work together "to make it through this."

So if the bailout necessary?

Over the next 8 weeksYou can get your Hit updated once again, to re-write the letter last year, continues to try to contact recruiters, caught your laptop still waiting for job alerts to your magic box. The truth is 8 weeks is a long time in the world of job search - especially in difficult economic times. Although he landed an interview at 1, it can take up to 8 weeks to get through two rounds of interviews, fifty-eight.

During the next 4 weeks, you come up with a real budgetNow that you are not only payments but have also now pay the costs of your enterprise-wide medical plan. Where did this money come from? Somehow, if you do not have Hank Paulson as your father-in-law, it must borrow money or spend your emergency savings.

During the next four weeks, four weeks, four weeks - If your search is, despite valiant efforts, more than the value of your settlement, saving emergency and the firstBorrowing, now what? Do you have a 401k, right? A line of credit with a few thousand left on them? This is the kind of security we all want to avoid.

If you have a working copy is professional, what are the lessons of this scenario?

1. Never assume that you and your company will never part and always ready in case things need to change. In this climate of legal certainty "at will" attitude, you should be prepared and not unfair.

2. Keep abreast of all your personal documentsAt least twice a year. This includes your resume, cover letter, list of references, biography, a summary page, personal business cards.

3. Stay in touch with your references and make sure they have interesting things to do at work. It makes it easier for them to stand down the road.

4. corporate recruiter calls and do the best thing to help you, for you only solid candidate and relevant references.

5. Maintain your network even if you do not have to doSun

6. If (now more difficult), and do qualify for a home equity on your house. Get as much as possible and not spend anything. This is harder to do if you are unemployed.

7. If you feel that something is wrong - you can hear thunder - you go to find quiet. This includes a more aggressive commitment to your personal network and identify the next local networking events, discussions with a few trusted recruiters, the updateSocial networks. And Google to determine how strong your brand is online.

8. Build your search strategy work now rather than waiting for an announcement.

OK, this is the "Scared Straight" perspective. Please, please, please do not assume that it takes three months to find work. We can and hope you are successful in this period. It may be 6 months or more.

Be proactive, have a sense of urgency for your research effort and give yourNetwork all the necessary tools to help you. If you can not avoid completely the bailout package, financial pressures may, anticipate, plan for them and a strategy for success.

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