The first and foremost thing one should do is to be in communication with an external world, says career coach Senthil Kumar Venugopal. (Image Credit: Pixabay)
India Inc. is witnessing mass layoffs across sectors, including in Big Tech companies such as Twitter and Meta and start-ups are not far behind. Byju’s, Unacademy, Practically and Plum Insurance have laid off several of their employees.
However, firing doesn't and should not mean the end of life. Moneycontrol spoke to experts to explore different ways of coming back stronger after being laid off.
It’s not a reflection of your performance: Be confident
People are either a part of a layoff or fear they might lose their jobs shortly. However, industry experts say people should understand that layoffs are the results of volatility in the market and are not a reflection of their performance.
“Candidates should hold on to their strengths and start preparing themselves for a new job. Their motive should be to get back on track as soon as possible and also at the same time look at strengthening their skills to get an edge and reduce the time to get placed in a new company,” says Aditya Narayan Mishra, MD and CEO of CIEL HR Services.
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Employees need to keep a better watch on their mental health and wellbeing now more than ever, says Sachin Alug, CEO, NLB Services. “At the same time, knowing that it’s only a matter of developing skills, which can be acquired easily through various mediums today, can go a long way.”
Pause and re-evaluate your competencies
"The first thing any candidate should do is pause and re-evaluate their competencies and skills," suggests Neeti Sharma, President & Co-Founder of TeamLease Edtech.
“Would they want to continue in the same industry/similar job role or look for a complete change? Once they have made their decision on this front, they should make investments in reskilling or upskilling, depending on the next role they are keen on,” she says.
Sharma recommends never waiting for any life-changing incident to make investments in yourself. She thinks everyone should constantly look at gaining new skills to stay relevant. “Continuous learning and gaining new skills is not a choice but a necessity today.”
Keep your internal and external network active
The first and foremost thing one should do is to be in communication with an external world, says career coach Senthil Kumar Venugopal. “Keep yourself active on social media. Use LinkedIn and other job sites to convey to others that you are open to work.”
Since industry news and trends go viral these days, Venugopal feels your prospective employer may be looking for someone with your abilities on these social media platforms. “Communication is the keyword.”
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As a professional, one should spend time in both internal and external environments. “Be part of professional forums based on your industry, like CII, MMA, QCI and so many others,” says Venugopal, "If you are looking for a job, a day is enough. If you are looking for a career, days are not enough.”
Revamp your resume
Candidates need to keep their resumes sharp with more focus on the scale of projects handled and skills gained. “This is very important as most companies now focus on the skills and the scale of technology handled by the candidate,” says Sarbojit Mallick, Co-Founder of Instahyre, an AI-based HR tech platform.
According to Mallick, the most important distinction between who gets hired and who doesn't, comes down to two factors: the first is content, which comprises the resume and cover letter, and the other is personality.
“You must remember that a resume is a storyboard where your goal should be to tell a compelling story to a recruiter,” Mallick says.
Think of it like a pitch, where you have a few seconds to showcase your story to impress a recruiter. If your story is convincing, the recruiter will forward it to the hiring manager and recommend you for the next round, he explains.
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Mallick outlines three compelling elements that can help you create an effective resume.
Firstly, use illustrations to highlight your skills. Don't mention skills that are half-baked or not your strength. If you are getting hired, you will be judged on the skills and experience you acquired during your past experiences.
Secondly, show how committed you are to your job, how you have upskilled through various courses in the past, and your capacity to acquire new skills.
Lastly, express your leadership qualities – what kind of community you have managed, and what extracurricular activities you have undertaken are all considered.
Seek the help of your ex-manager
After being laid off, experts say an employee should ask for a recommendation letter from the manager and leave the company on a good note after collecting all the official documents.
“This will be possible if they have delivered their output diligently and have shown respect for office rules, whilst they were employed,” says Yogita Tulsiani, Director & Co-Founder of iXceed Solutions.
Not burning bridges has its advantages. For instance, Braden Wallake, CEO of social networking companies Hyper Social and Hyper Sphere, who had last week opened up about the layoffs in his company while taking responsibility for it, was later trying to find people to work with.
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Other practical advice is to begin figuring out finances. Experts suggest inquiring in your offer letter if you are eligible for a severance package.
Elon Musk’s tweet suggests that laid-off Twitter employees were offered a three-month severance package. Unacademy’s ex-employees will get severance pay equivalent to their notice periods and an additional two months' salary, an accelerated one-year vesting period, medical insurance coverage for an additional one year, and dedicated placement and career support.
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