7 Questions to Ask Yourself Before Starting Your Job Search After a Job Loss

You know the usual advice for people who just lost their job:

“Start your job search as soon as possible. Don’t hesitate. Update your CV, start networking and keep looking.”

This is conventional wisdom and most people follow it. Nothing wrong with that on the face. It’s what everyone does. It usually works. You will find a job. You’ve had one before, haven’t you? There is another great advantage to start looking for the next job right away; it provides you with a mental safety net. They follow convention; you don’t have to explain yourself. Still, there are a few problems with just blindly following common rules and expectations. Both personal and economic circumstances can indicate that there may be a “better way” that better fits your overall situation.

In fact, there are 7 questions you might want to ask yourself if it wouldn’t be better to put off your job search and spend your time differently for a while:

1. What is the economic situation of the industry and the city you are in?

If you look at an industry that is going downhill in your city, how much would it benefit you to look for a job there? At what company if everyone stops hiring? Aren’t you better off spending your time looking at a different place to work and live?

2. What is your personal economic situation?

Does it make a difference if you are 50 or 30 years old? whether you have severance pay or no severance pay; no money in the bank vs. a great savings account? Doesn’t money give you more freedom and time to enjoy life a bit? Or does it make you lazy and too relaxed to look for a new job later?

3. What is your personal family situation?

Does it make a difference if you are single or have a spouse? Can you take more risks as an individual? Or does having a family offer more emotional stability and perhaps the security of a second salary, making it easier for you to procrastinate than any one of your peers?

4. What are your unique personal and professional needs?

What if you are unsure how to proceed professionally? How high is your “brain damage” from an intense career? Is it time to take that “once in a lifetime” vacation? Should you take a little time to think about a career change? How much time would you need before getting back on board?

5. Could you have a better career with additional education?

How about investing in some education and increasing the chances of finding a better job later? How much would education help you find a job? How much time would it “buy” you in the job market?

6. Is there a risk of taking the next possible job?

In good times it is easy to find a new job with the same or higher salary. What happens in recessions with falling wages? If you cut 20% on the first job offered, will you ever get back to your previous salary level? Couldn’t there be a better strategy… just wait it out and re-enter the workforce once conditions improve?

7. What is your time worth?

Given that total years of work can add up to 30-40 – why rush? Thirty to forty years of work equals 360-480 months. Can it really be that bad to take a three month break and enjoy life, reflect and re-prioritise? Shouldn’t it be enough to work 99% of your working life? Shouldn’t that be enough to cover ongoing living expenses and retirement provisions? All of these questions might lead you to the conclusion that applying for the next job right away might not be the best course of action for you. Using your time for other activities for a few months before starting your job search might be the right strategy.

Thanks to Michael Froehls, Ph.D. | #Questions #Starting #Job #Search #Job #Loss