Why you should get laid off once in your life

Don’t get me wrong, I’m not cursing all my readers. Getting laid off and searching for another job can really suck. Some struggle to find a new one and even when they do, they often make less money than before.

Before I founded RecruitPlus, I was a salaried employee. And over that span of 4 years, I was laid off…twice.

But like any experience there is value in it. These are what it taught me:

A breakthrough. I had a job after my 2nd layoff but the trauma of it lingers. And reminders keep popping up in my new job as I was in the aviation industry and we were facing the SARS period. People are afraid to travel and business was extremely slow.

But I have no doubt in my mind that I do not want to be laid off for the third time! That is when I started to think – the only way I won’t be laid off would be if I’m the employer. And that sow the seed to the company I am helming today.

The need for action. The hardest thing about losing your job is the large, black hole of uncertainty. It is the fear of the unknown. That fear can paralyze you. Don’t let that paralysis settle in. Action is key. Once the farewell drinks are over, start dusting off your CV and put them into the distribution channels to get the word out.

Every industry has a life cycle. I was in the educational industry during my layoffs. We targeted school children with mainly IT-centric enrichment courses. The money was good but the dot com crash finally reached us. Competitors started to fold and the Ministry of Education cut back their budget.

Naivety blinded me from the obvious that this industry is a goner and went head strong into a smaller outfit with the same business model. That is where my next layoff came about.

Financial Review. The largest issue you will face is likely financial. How are you going to pay the bills? How much do you have in savings? How long can it last?

Assessing your financial situation and gauging your ability to survive can be terrifying and eye opening. Maybe you realize you are a lot closer to the edge then you thought. Or maybe you find comfort in the fact that you will actually be okay…for a little bit.

Self-Reflection. After deciding that I want to become an entrepreneur, the next question as in what field? Likewise when you are re-evaluating your career, you need a hard look at yourself and honestly assess the skill sets you have acquired.

You also need to know what is your strength and really what your weakness it. Egos and prides should be out of the door here.

If training is necessary, make arrangement for it. For me, I love helping my friend in their job search. Sometime even helping them to answer post-interviews questionnaire. So it’s almost natural for me to go into recruitment.

Perseverance. Frustration and rejection are part of any job search but are amplified when you are already unemployed. Know this and accept it.

If you feel like you need a break and can’t possibly attend yet another interview, try doing something else like volunteering or just take up a new hobby/classes. Let that clear your head and give you new ways to look at things.

I went through all of the above and learned a lot: rejection, dealing with failure, how to assess my options, and importantly building a deeper skill set. I feel like I have weathered a storm and come out of it for the better. The process was really an invaluable experience as it builds your resilience and character. And if you never fail before, you won’t know what success is.