For the past several years since the Economic meltdown, millions of people have been given the pink slip because of corporate restructuring, company downsizing and other enterprise cost-cutting efforts. The economic collapse created millions of unemployed workers, many of whom had been working at the same company for a long time. This also meant that they didn’t really have any idea how to participate properly in a job interview.
When producing a resume or participating in a job interview, it can be difficult to discuss corporate restructuring and that you were essentially fired. Of course, there are simpler terms one can always use, such as being let go, the victim of the recession, etc. With that being said, explaining to a hiring manager the reality of your situation doesn’t have to be a horrible experience.
In addition, a job seeker shouldn’t be embarrassed or shy that they lost their job because of the financial crisis that wreaked havoc on millions of people all over the world. In other words, on the resume and in the job interview, just discuss what happened, look ahead to other career opportunities and highlight your day-to-day job duties and accomplishments in the CV and cover letter.
Although the corporate world is dramatically changing as time goes by, it doesn’t necessarily mean that employees will constantly face unemployment, layoffs, and demotions. Keeping up with industry trends, upgrading skills and performing the job well can keep workers competitive and highly sought after.
Here are four ways to discuss corporate restructuring on your resume:
1. Laid Off
As a result of an adjustment to the corporate environment, you have been let go. On your resume, it is imperative to list the job title, highlight what contributions you made to improve the company, list your daily activities and always keep a positive tone.
In some instances of corporate restructuring, employees are demoted to positions that they had when they first entered the firm five years ago, which also commands lower pay. First, it should be made clear that the company valued you so much that it decided to keep you on board. Second, you should outline your skills, contributions and daily tasks in both positions.
Remember, surviving a corporate restructuring is an accomplishment in itself, and you should be proud of the fact that you were able to stay on.
Some corporations may find it feasible, whether to remain competitive or for tax purposes, to merge or acquire another company. If you were the product of such a merger and acquisition then, you should coalesce your job history under one title. By using double headings a potential hiring manager may view you as a job hopper - don’t forget a human resources professional spends about 30 seconds perusing the average resume.
4. Company Shutdown
For one reason or another, workers are sometimes adamant in refusing to list a company that has shut down on their resume. The logic is that they contributed to its downfall. This is nonsense, and instead it should be treated like any other job for a company. You define your contributions, position, record and skills similar to how you would do it with a previous employer.
Here are five tips to be properly prepared following a corporate restructuring:
Keep your resume up-to-date
Highlight the value you offered your firm
Study the economy, fields and labor market
Produce a marketing plan; remember, you’re your own brand
Avoid terms like "fired" or "dismissed."
The reality of today’s economy is that corporations are attempting to adapt to the ever-changing marketplace, consumer habits, and financial behaviors. Not everyone can be given a high-paying job if their education, skills, and experiences aren’t up to par or match the demand of this generation’s globalized economy. A company will always keep an employee with a stellar record, and that can add value while another company will always hire someone with the in-demand skills and record.
Photo by marshallonline via Flickr.