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Laid Off From Work? Here’s What To Do Now

News of recent layoffs at industry giants including Goldman Sachs, Twitter, Stripe, and Microsoft have rocked the job market in recent months. As the threat of a recession looms, companies are looking to slash payrolls in anticipation of lower-than-expected earnings in the near future. While that may be good for the bottom line, thousands of workers are finding themselves without a job or under threat of imminent unemployment.

If you’ve recently been laid off, know that you are not alone. Many have been where you are now and have come out stronger on the other end. This is temporary. And although the feeling can be jarring, it’s important to take some steps now to be sure you’re ready to start your next opportunity when the time comes.

Get All Your Ducks in a Row

Receiving a notice of termination or furlough isn’t the end of the story. If you’ve already been laid off, be sure you have all the documentation from your former employer. Do you have insurance in order? Are you entitled to any type of compensation or benefits as part of your severance? Have you checked on your final paycheck and reviewed your 401(k) contributions?

Ensuring you have the proper documentation from the HR department and filing for unemployment are crucial for your own security. You’ll also want to do some research to be sure your employer was compliant with local employment law in their actions. While these steps can be daunting, they are the most important and time-sensitive tasks to ensure you’re able to get back on your feet.

Think Positively

There’s no sugarcoating it – layoffs suck. But, it’s important to remember that they’re not indicators of your skillset or performance as an employee. Oftentimes, they are the end result of things beyond your control. When thinking back to your time at your previous employer, focus on what went well and what you’re looking for in the future.

Many people use this time to reset and go after new opportunities that they’ve long been interested in. Set some time aside to consider what makes you happy and how you’ll achieve what’s next for you. Although this feels like an uncertain time, it can be a time of personal growth and opportunity. Don’t wallow; embrace it.

Leverage Your Network

You’ve spent years working hard and building a network. Now’s the time to put it to use. Even if you feel like you don’t have strong connections, there are likely dozens of former coworkers, managers and even friends who would be more than willing to connect you with new opportunities.

You don’t have to even reveal that you were laid off or ask outright for help. You can simply mention that you’re interested in something new and ask if they know of any options that might be a good fit. It may feel uncomfortable at first, but, if you don’t put yourself out there, you may miss out on the support your network can offer. Services like LinkedIn and ScaleFront can also provide you with easy access to online professional networks where you can exchange resumes and connect with others who are searching for talent.

Consider Freelance in the Interim

While job searching can feel like a full-time job, don’t feel like you have to wait for a job offer before you can actually start working. Freelancing can be a great way to add some extra cash to your pocket while also allowing you to hone existing skills and learn new ones. Some laid off workers have even built whole new careers as a result of freelancing following severance from full-time employment.

Whether you’re a developer, content writer, or social media expert, there are plenty of freelance websites where you can get started. If you’re looking for project work, ScaleFront has options from top tech companies who are recruiting for these services right now. You can choose from short or long-term assignments that match your skills, earning you extra income and, in some cases, a path to permanent employment.

Use ScaleFront to Find Your Next Opportunity

If your industry has reported recent layoffs, it’s understandable that you may be worried about your future. Whether you’ve already been laid off or are bracing for it, the good news is that work opportunities still abound in all sectors. It starts by knowing where to look.

ScaleFront is one great option. With an integrated recruiting platform and talent marketplace, you’ll be able to connect with qualified professionals from around the world who are looking for talent with your unique skills. And with customized filtering and an intelligent search platform, you’ll quickly find the exact open roles that match your background and interests.

Whether you’re looking for a long-term opportunity or something during a transition period, give ScaleFront a shot today!

Is Now a Good Time to Job Hunt?

As we approach the end of 2022, it’s important to examine the current job market within the context of the broader economic environment. Sure, we’ve all seen the headlines that some large tech companies have implemented workforce reductions or hiring freezes in recent weeks. As the economic outlook dims, these firms are making sound business decisions to evaluate their workforce strategies.

The fact remains, however, that the job market still remains attractive to candidates. Opportunities abound in fields including technology, finance, and health services. Workplaces also continue to see structural changes in our post-pandemic work, and employers have not stopped seeking skilled talent to capitalize on market opportunities.

At the same time, candidates are in the driver’s seat more than ever before. They have access to more “insider” information and networking opportunities, giving them an edge in negotiations. So while it may seem like things have chilled recently, now is still a great time to find your next white-hot opportunity.

The Job Market Is Still Favorable

While the headlines might be scary, the reality is that tech layoffs aren’t as massive as the news has portrayed. According to a count by TechCrunch, 44,000 tech jobs were lost in October 2022. That’s not a lot in the grand scheme of things.

The overall job market still remains very attractive to job seekers. The U.S. economy added more than 260,000 jobs in October 2022 for a historically low unemployment rate of 3.7%. That means there are still many more jobs available for every candidate looking. Wages also increased 7.7% in October 2022 compared to a year ago, which is great news for job seekers looking to offset inflationary price hikes.

Not only is the labor market still growing, but an increasing number of individuals are looking for new opportunities as well. It’s estimated that 40% of workers are considering leaving their current role in the next six months. This is good news. It means they are confident enough that they will find something else, and it means that existing roles will continue to open up for prospective candidates.

Pay Is Becoming Even More Transparent

More than ever before, candidates are applying to roles with an exact understanding of how much they can expect to earn. Job search and review sites such as Glassdoor and Indeed display self-reported salaries for anyone to see. And now, local governments are getting involved too in an effort to promote pay transparency.

Several states and jurisdictions already have laws in place that require employers to publicly share information related to base pay, bonuses, benefits, and other compensation. New York City joined this list on November 2. California and Washington state are set to follow in January 2023. That means that a sizable number of jobs available from Fortune 500 firms, including tech businesses, will display a pay range alongside the job description. This grants prospective workers important insight into what jobs are worth applying for and what they can expect to receive at the end of the negotiating process. Employers can no longer benefit from the ignorance of candidates.

Recruiting Practices Are Shifting

As the bargaining power shifted to candidates in recent years, recruiters were forced to change their approach in order to attract top talent. More recruiters now focus on building relationships and nurturing candidates, which benefits those looking for new positions. With fewer people applying to jobs, candidates now have more direct access to HR teams who are more willing to understand their experience and match them with the best available open roles.

And as workplace flexibility continues to evolve, candidates now have more options to meet with recruiters and hiring managers and perform interviews. Most interviews, at least in the initial stages, now take place remotely on platforms such as Zoom and Teams. What used to be a stressful in-person interview process is now taking place from the comfort of the interviewee’s home. This also enables candidates to conduct more interviews without taking too much time away from their current work.

Find Your Next Opportunity With ScaleFront

If you’re a job seeker, it’s understandable that you may be wary of the current market. However, indicators suggest that now is still a great time to seek employment. Whether you’re plateauing in your current role, need a shift in your career, or are new to the job market enitrely, ScaleFront is a great place to start your search.

ScaleFront is a top recruiting platform and talent marketplace. Our proprietary referral network enables qualified professionals from around the world to connect with job seekers just like you. Our platform is open and transparent, ensuring that recruiters and candidates have access to comprehensive profiles and insights for better opportunity matching. With customized filtering and an intelligent search platform, you’ll quickly find the exact open roles that match your talent and interest.

Start your next job hunt with ScaleFront today!