April 19, 2024
Navigating Job Uncertainty After a Company Goes into Administration
Author: Rhianyth Bater
Date: April 19, 2024
The recent news of another company unexpectedly entering administration will undoubtedly leave many employees feeling uncertain and anxious. It's understandable during this period of difficulty.
As you navigate this challenging time, be assured that plenty of people within the industry are ready and willing to support you.
Right now, take a moment to pause, reflect, support each other, and then come up with an action plan.
Prioritise Your Well-being
First and foremost, take care of yourself. This may seem difficult when you're facing job insecurity, but it's essential. Reach out to friends, family, and any colleagues who are also going through this with you. Support from all sides can be invaluable.
Be Intentional in Your Job Search
Check your CV and LinkedIn profile, highlight your skills, and ensure your work projects/duties are up to date and align with your preferred roles.
As you begin your job search, be proactive and strategic. Network with former colleagues, industry professionals, and specialist talent agencies that specifically deal with the sector and role you are interested in.
Don’t Settle for Just Any Port in a Storm
No doubt you have already been contacted by generalist recruiters who have thrown all sorts of job roles your way without pausing to ask what direction YOU wish to take in your career. Don’t jump into anything out of panic, especially if it offers little interest or professional value to your career goals. Focus on positions that align with your long-term career path, so you don't regret the decision later on.
Practice interviewing to boost your confidence and improve your chances of landing a job, especially if it’s been a while since your last one.
Consider Freelance or Contract Work
While a permanent role may be your ultimate goal, if you’ve ever been tempted to explore contract work, this may be your golden opportunity. Use this as either a way to bridge the gap until something permanent comes along or as a springboard into a successful future of freelancing. These opportunities can provide valuable experience, exciting projects, and references, while also maintaining an income.
Explore Career or Sector Transition Options
If you're feeling unsure about your next career move, explore career or sector transition options. Reach out to people in your network who could offer advice on entering a new career path. Consider taking courses or certifications to enhance your skills, bolster your CV, and open a wider net of opportunities.
Remember, this is a challenging time, but it's also an opportunity for reflection, growth, and new beginnings. By taking proactive steps and seeking support, you can navigate this situation with resilience and emerge with a role that ticks all your career goal boxes.