As the situation surrounding Covid-19 continues to evolve in unpredictable ways, so too does the global economy. While some industries have managed to thrive during these troubling times, many more have been forced to make difficult decisions in order to stay afloat. All too often, these decisions come in the form of employee redundancy.
If you have recently lost your job due to cutbacks from Covid-19, know that you are far from alone. On a global scale, the International Labor Organization (ILO) has estimated a staggering 10.7 percent decline in global working hours thus far in 2020 – equivalent to 305 million full-time jobs. For those fortunate enough to continue working during this time, the looming threat of down-sizing is a stark reminder of the uncertainty surrounding the global economy.
What Do I Do Now?
Regardless of your current status, now is the time for reflection. For those who have found themselves in the process of job hunting once again, it is vital to take a step back and evaluate the situation. Ask yourself, “Was it merely my company that was struggling, or is this experience indicative of the industry as a whole”. If it’s the latter, it may be time to consider making a transition.
The simple yet unforgiving truth of the matter is that no one knows for certain how the present situation will unfold. Those with the means to wait a few months may find that their industry has recovered and they are able to pick back up where they left off. Many, however, cannot afford the luxury of patience in an unstable economy. For these individuals, a change of industry must be considered.
Embrace the Possibility of Change
The thought of an abrupt change of course is understandably scary for many of us, but it need not be. Take this time to evaluate what made you effective in your previous role. By creating a list of your skills, you can begin to identify areas which overlap with other industries that have been less impacted by Covid-19. The amount of transferable skills that you currently possess may very well surprise you.
Beyond figuring out what you can do, use this opportunity to also consider what you would like to do. Perhaps you’ve taken an interest in other fields over the years but thought it impractical to change careers. Maybe your once “unattainable” dream job is now within reach thanks to the skills you acquired in your last role. Despite the negative circumstances that led up to this moment, the situation at hand has presented you with the chance to realign your career path in a direction that better suits both your interests and talents.
Keep Moving Forward
With a better understanding of the opportunities that lie before you, begin taking the practical steps towards realizing them. If you were in your previous role for some time, your CV is most likely in need of an update. Reach out to your contacts on LinkedIn regarding openings in other fields. Register on job boards and create alerts for roles that interest you. Most importantly, never lose sight of the process. Finding a new job is difficult at any stage of life, but rather than getting discouraged, continue to grow and develop the skills necessary to achieve success.
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