With multiple industries cutting thousands of jobs last year, many workers are pondering their next move. If you’ve been laid off, your first instinct might be to send out hundreds of resumes in search of a similar role. That might be the right course of action if you love your job and feel you’re on the right path. However, if you dread going to work or have been dreaming of starting a business for years, this might be the perfect time to make a career change.
Changing careers is more common than you think. According to the University of Queensland, the average person changes careers three to seven times before they retire. For Gen Z, that number might be even higher. In a survey commissioned by the human capital management company isolved, nearly half of Gen Z workers say they are considering a career change. Some of the top reasons to pivot include interpersonal conflict at work, feeling emotionally drained and a limited ability to help co-workers.
While changing careers might seem overwhelming, the long-term benefits often outweigh the short–term sacrifices. If you’re ready to turn an unexpected layoff into an intentional career change, follow these steps.
Evaluate Your Financial Situation
Because a career change takes time, the first step is to evaluate your financial situation. Create a detailed budget so you can allocate resources more effectively. Document your expenses, savings, investments and other income sources if you have them. Then, ensure you have an emergency fund that can last you at least three to six months. To give yourself additional peace of mind, identify any non-essential expenses that can be eliminated.
Practice Self-Care
A layoff can have emotional repercussions like depression and anxiety. To ensure you are at your best when planning a career change, make time for self-care. One idea is to set aside time each day for gratitude practice. That might mean starting a gratitude journal or simply meditating. Also, create a daily structure to maintain a healthy balance during this transition period. Set a schedule that ensures you are productive while also avoiding fatigue and burnout. Contrary to the old saying, job hunting shouldn’t be a full-time job.
Reassess Your Goals And Values
Now that you have the time, reevaluate your goals, values and priorities. Think about what work experiences you enjoyed most and least. Also, ask yourself these questions:
- What are my strengths and weaknesses?
- What transferrable skills do I have?
- What aspects of a career are most important to me?
- Why do I want to make a career change?
By reconnecting with your authentic self and identifying your core values, you’ll ensure they align with your new career path.
Seek Out Support
It’s difficult to accomplish a career change without adequate guidance. If you’re stuck in analysis paralysis, contacting a professional can help gain clarity. It also provides the benefit of an unbiased outside perspective. On those days you feel like giving up, you’ll need the support of someone who believes in you more than you believe in yourself. So, find a qualified expert who can inspire and motivate you while holding you accountable. Depending on your needs, you can engage a coach, mentor or both. While a coach can help you achieve specific goals, mentors can offer a longer-term relationship with ongoing support.
Stay Connected
After a layoff, you may feel tempted to isolate yourself. Instead, it’s helpful to lean on friends and former co-workers. Use LinkedIn and other social media platforms to reach out to potential connections. Networking is also a good way to research different industries and positions. Find people who are in the field you’re interested in and set up informational interviews. Even family and friends might have contacts in the field you’re researching. Another way to test the waters is to volunteer, intern or shadow someone. You could even freelance or start a side hustle. That way, you gain experience and earn an income while learning more about your future career.
A career change takes planning and patience. So, keep your expectations realistic. By staying positive and leveraging your transferable skills, you’ll find the purpose and meaning you’ve been searching for.