In the good times and the “not so good” times of the economy, job loss happens. I have worked through several hiring booms and several hiring busts over my career. I was a hiring manager myself in the mid 80’s in Pittsburgh, PA while the area was still feeling the pains of the steel industry’s setbacks. I have recruited in the hottest of markets, and I have experienced Black Friday, the implosion of the telecom industry, the dot com bust and a few other downturns. Most recently, we experienced furloughs and job losses during and post the COVID pandemic. In 2023, we are seeing job losses related to reactions to economic forecasts and interest rates increasing. We are also seeing job losses created simply by companies realizing they need to regroup. Over the last decade or so, there have been many startups and acquisitions. The natural cycle for both is hiring ramp up, maintain and then, downsize; either by attrition or by action.
You can – and should – be prepared for the event of job loss, even if you think your job is secure. And should it happen to you, there are things to do, and things NOT to do.
I will be discussing all of this in this episode of The Recruiter’s Review .
The Recruiter's Review. Real Talk, Real Advice.
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