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Do Executives have a Future after Retrenchment?

Retrenchments are becoming increasingly common these days. The big ones make the six o’clock news –where large businesses, and even whole industries, shut the doors. But most retrenchments are small, quiet affairs.

For the retrenchee, it can be devastating and very personal.

The silver-haired retrenchees are the most seriously affected because they are the ones who learn that finding a new job is not going to happen as quickly as they had hoped. It is easy for them to become despondent after doing the rounds of the recruitment agencies to no avail.

If/when you are in this position, here’s what you need to do:

  • Understand that it could be months before you find paid employment again. Structure your finances with survival in mind.

  • Work eight hours every day on paid work or on finding a job. Don’t confuse activity with achievement. Growing roses, cabbages or a beard is not counted as productive work. Set milestones to help you; like 5 applications a week, 20 calls, and 3 meetings.

  • Make sure your resume and LinkedIn profile are up-to-date and modern looking. If necessary, get some professional help to do this.

  • Use the power of your network. Tell everyone – and I mean EVERYONE – that you are on the market. Understand that it’s not what you know, it’s not even who you know, it’s who knows you.

  • The network bypasses the CV filter machine. It gets you direct to the hiring manager, to be one of the four people considered, rather than one of 1000 who aren’t.

  • After that it’s up to you, you still have to earn the job. Executive job hunting is mostly finding that friend of a friend. You need to circulate a lot. Be seen.

  • Analyse the benefits of your professional memberships. Can your membership of this particular Institute leverage you into employment? If not, it may be an expense you can cut.

  • Are there other bodies that you can join that would assist you in your quest? Perhaps there is a jobs search group for you

  • Look at interim and part-time work. You might like it.

  • Don’t be fussy.

The Australasian Interim Executive Association Jobs Board is very powerful for a simple reason. The employers (and recruiters) who advertise their jobs are actually seeking the skills and experience that maturity brings. As the Chairman of AIEA I see many experienced men and women come to AIEA with the intent of leveraging our support structure to get out of the hole they find themselves in.

They also find that a major benefit is simply interacting with fellow members; people who understand. That’s why our monthly networking events (usually free to members) are so popular.

You might be interested in joining a new LinkedIn Group, Jobs Club Australia:

https://www.linkedin.com/groups/13510679

As the name implies, it is a self-help support group where experienced people help each other find their next role. It is relevant to Interim Managers as well as those looking for a permanent job.

 

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