What advise would you relay to a 50 year old person who has been fired from a high powered
I have found in life that being fired , laid off , downsized from a company has many causes . Not that I've had a habit of that many terminations , actually I have never been" fired ", I've been laid off or downsized a couple of times however . I have also worked and been an active manager , supervisor , company owner .
The Most Important thing to remember and prepare for is NOT taking any reasons for termination personal ! The reasons stated by the perpetrator of the firing are quite often flawed in reasoning . It can simply be financial , it can be performance , it can even be personal and the decision might come from far up the chain , I have actually seen companies bring in a terminator for apparent lack of strength of it's own leadership to actually do the firing .
My own journey after being " let go " a couple of times in these times of recessions involved the very rewarding choice to become self employed .
Best advice ---don't take it personal and move on ! To many people get bogged down in the Why's !
Always go forward a close door can mean another will open, even if it is not when you expect it , prepare for a better opportunity
and always, learn from your past experience that anything can change do not put all your precious eggs in one basket.
Every ending is a new beginning. It's not the end of the world.
On some level anyone over the age of 30 knows this to be true. However it is human nature to go through a grieving period after being let go or rejected regardless of whether it's a relationship or employment.
Many of us identify ourselves by our career which assuages our ego especially if we don't have a well rounded balanced life outside of work.
At some point you realize your future lies ahead of you and not behind you.
Two approaches people tend to have over the age of 50.
1. Find a non-challenging job to work until retirement age with heath insurance. Essentially they just want to coast a few years and retire.
2. Seek out a high powered position or start their own company.
In the case of the first one they may simply post their resume on monster.com, indeed.com, and possibly register with an agency or two in hopes of getting contract work that may lead to full-time employment.
In the case of the second option they're more likely to approach finding a job as if it is their job! They'll take advantage of LinkedIn posting resumes, researching companies, sending resumes to contacts, attending industry networking and professional networking groups via Meetup.com and registering with theladders.com which caters to high salary jobs listings.
Some people have been known to switch careers entirely.
The biggest challenge for anyone who identified them self as their job is avoiding feeling like they are somehow a "loser". People get fired everyday. The issue is many of us may have looked down on them or if we find ourselves in a workshop with others in the same situation we still think somehow we are "better than" them which causes us to feel even more depressed. "I don't (belong) here!"
The reality is no one is their job and failure is a "result" not a "person". We have the option to curl up in a corner and die or fight to climb back to the top. Anger has been a driving force many successes.
What happens to you is less important than what you do with it.
I would also tell them to research and use every resource available.
Our insistence upon "limiting our options" causes us to be depressed.
Ever met anyone who shoots down every suggestion you make?
"If you want something bad enough you will find a way. If you don't you will find an excuse." - Jim Rohn
When a person is fired from a high powered lucrative job as you put it, it must be very frustrating for that person especially at the age of 50. When you are nearing the retirement age, all you want to do is carry on with your job until you retire but when this happens, it will affect the confidence of the person. But if the person is confident and strong enough to find another job then that will be good.
My advise is to find another job or have your own business until you retire. I know it is not easy to find a job that you like nowadays but there are jobs out there for the taking. The problem is when you are fired from a job for whatever reason, it might not be easy to get another job quickly. But if there's a will there's a way.
The people here have pretty much covered the options; either get another job or start your own company. I'd like to add a retrospective piece of advice; while you're in that high-powered job, SAVE YOUR MONEY!!! Anyone 50 and UNDER is well aware that pensions are a thing of the past, so the only way they're going to have a retirement account is if they establish one of their own.
A long time ago, I heard a story of a man who saved his money and retired at age 49. When he turned 62, he added to his income by filing for Social Security. My guess is that they had pensions in his day, though he would have had to work until age 65 to collect it. He wisely bypassed that option and created his own. Smart move, since back then many people were fired shortly before they could collect their pensions. They could sue, but the process was long and arduous; it was easier to settle out of court for a far lesser sum.
Tomorrow is not promised you. Even Lee Iacocca was fired from being President of Ford Motor Company. The best course of action is to be in control of your own life.
You're a seasoned, highly skilled expert! You can get another position! If not, become a consultant and start offering your skills freelance, or teach what you know to others new to the field. You may have lost your job, but haven't lost all the great wisdom and experience that got you that job in the first place
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