The tech industry is currently undergoing a large-scale workforce reduction. Over 1,000 tech companies worldwide have laid off more than 200,000 tech workers between 2022 and 2023.
Who would have thought that an industry that grew in the UK alone six times faster than the rest of the UK economy in 2019 and of which the five tech superpowers — Amazon, Apple, Google, Microsoft and Facebook commanded a combined revenue of more than $1.2 trillion in 2020, would now resort to massive talent purge less than five years afterwards. My thoughts are with everyone affected by these recent developments.
As an Executive Coach and someone with first-hand experience of redundancies, I understand the emotional and financial impact this can have on individuals. Less than three years into my role with my then ‘dream organization’ the Global Financial Crisis of 2008 erupted leading to several rounds of redundancies which eventually got to my team and I was informed of the dreaded news that my role was now at a risk of redundancy. Without an alternative, I faced the difficult reality that the organization was letting me go.
This period was emotionally tumultuous and traumatic, but it also led to a career pivot that has enabled me to align my purpose with my pursuits; my capabilities with my responsibilities and make a real difference in the lives of several others from 40 + nations in 13 years. I have achieved a level of fulfilment that I never had in the previous 15 years.
With this in mind, I offer the following suggestions to those in similar situation:
Firstly, realise that the emotions you feel – shock, denial, frustration, anger, depression are natural. Secondly, remind yourself that though it’s a period of upheaval, uncertainty and distress, it can also be a period of opportunity and positive possibilities, because crisis often comes with its own opportunities. Thirdly, sudden unexpected change might have been forced on you, but the next move is yours, you own the aces, you get to write the story from here, make it what you want it to be.
Further, let’s now consider a few practical steps you can take to move forward:
1. Take time to process your feelings about the job loss. Allow yourself to feel sad and upset, label your feelings without becoming stuck in those feelings.
2. Draw up a gratitude list – List out all the things and people in your life you are grateful for, including the experiences and connections your lost job afforded you. Expressing gratitude at a time like this may feel unnatural and probably the last thing you want to do, however, by taking this ‘small’ step you are beginning to take back control of the situation and establishing the process of self-empowerment. One of the most frustrating aspects of job losses is being denied the power to choose the outcome you want. This is contrary to a fundamental human need – the freedom to make own life choices. Therefore taking this step (gratitude) starts you off on the right path. Gratitude will also help lift your spirit in the days you feel particularly low.
3. Close the door – accept that one chapter of your life has ended and a new one is about to begin. Put the past behind you and welcome your new life of possibilities, opportunities and positive outcomes. This new life may be different to the one you have known for some time, though not necessarily less rewarding. If it helps, you may wish to take a physical action to demonstrate this transition e.g. walking through an open door in your home and announcing your new beginning to yourself.
4. Change your perspective – rather than view your situation as a loss, consider yourself now free to pursue new interests, adventures and become all you can and want to be. If you change the way we look at things, the things we look at change – Wayne Dyer.
5. Take stock – Make a list of your knowledge, skills, and capabilities. Consider if they are fully optimized to date. Are you taking full advantage of the strengths and activities that most energise you? Do you have hobbies, interests or passions outside of work that might be worth pursuing? Perhaps even becoming commercially rewarding?
6. Think ‘big picture’ - consider your life purpose. What are you living for? What change would you like to see in the world as a result of having lived? What can you start doing? Where can you start from, even if little? What are you waiting for? “If not you, then who? If not now, when?”― Hillel first- century Jewish scholar.
7. Revamp your Personal Brand – How are you showing up to the world? How do you want to show up to the world? Credible, Innovative, Efficient, Personable etc. How do you want to reflect this on your Social Media Platforms, particularly LinkedIn? Review and refresh your image.
8. Reframe from victim mentality – I say this with uttermost sensitivity. Communicate the value you can bring to any role or organisation as against the loss you have experienced. Let value- add and positivity be your overarching tone.
9. Update your resume and LinkedIn profile to reflect your most recent experience and skills. Make sure they are tailored to the types of jobs you are interested in.
10. Reach out: your next opportunity might come from unexpected places. Network with people in and outside your industry, attend industry events and connect with people on LinkedIn.
11. Offer a helping hand – Look for ways to help others, this may involve donating your time, energy, talents or expertise. We are wired to help others. There is so much fulfilment when we do so. Plus it might lead to very useful connections or open unexpected doors serendipitously.
12. Polish your Pitch –Fine tune your Elevator Pitch. An opportunity to showcase your skills and capabilities might knock on your door when you least expect it. Be ready to communicate your most significant skills, impactful learnings, proudest achievements and contributions. Success comes when opportunity meets preparation – Zig Ziglar.
13. Try something new - Consider expanding your skillset by taking classes or pursuing certification in areas that interest you.
14. Collaborate – Consider forging new alliances with friends or ex- colleagues who are ready to move forward.
15. Look for job opportunities in different industries or companies, and don't be afraid to apply for roles you don’t quite tick all the boxes. Sometimes a fresh start in a new field can be a great opportunity. Consider using a skills-based resume to project your transferable skills if a career change is desired.
16. Practice self-compassion – Be kind to yourself and work on maintaining a positive attitude throughout the job search process. Don’t expect to get everything right at first.
17. Speak to yourself - Don’t be silent. Affirm your capabilities, value and self-worth.
18. Go back to your vision board or dream wall if you have one. If not, start one, even if a journal. Close your eyes if you need to and dream again! Visualise the future you desire and savour the reality of it ahead of time.
19. Prepare for your finest hour – This is not the end of your story. The best is yet to come. Perhaps your next move is your own start-up? Remember that today’s corporate firm was yesterday’s start-up. Organisations are platforms of expression of gifts, talents, and ideas that create value and solve problems. Perhaps this is your moment to set something up.
20. Enlist a Career Transition Coach - Coaches inspire, support or challenge as occasion demands. Coaches are strategic success partners helping you transition from one state to another. Coaching can help you get out of a rut if you feel stuck. Coaching also helps you find a sounding or accountability partner in your Coach. Find a Coach that is the right fit and start your journey to a new life of opportunity and positive outcomes.
Whether it takes a month, two or more to make your super comeback, don't give up hope. Keep moving forward, keep working at it, and you'll eventually find a new opportunity and the better life you desire.
Meanwhile, I hope you can draw some inspiration from the following 'Words on a Marble':
‘Tough times never last, tough people do’ – Robert H. Schuler
“I can be changed by what happens to me. But I refuse to be reduced by it.” — Maya Angelou
“On the other side of a storm is the strength that comes from having navigated through it. Raise your sail and begin.” — Gregory S. Williams
“Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength.” — Arnold Schwarzenegger
“It’s your reaction to adversity, not adversity itself that determines how your life’s story will develop.” — Dieter F. Uchtdorf
‘There will always be someone who won’t see your worth. Don’t let it be you’ - Marshall Goldsmith
‘It is not over until you win’! – Les Brown
Click here for more inspirational quotes.
Lastly, a reminder that your best days are still ahead of you. Stay positive and don’t give up!
I’m rooting for you!
#jobloss, #redundancy, #career, #tech,#careercomeback