Getting Fired

Let's face it; no one likes getting fired from their job.  Getting laid off can be both professionally embarrassing and financially devastating.  If you've ever been fired, then you should understand that you're not alone.  Thankfully, it's possible to not only rebound, but also thrive after being terminated.  In fact, that's exactly what has happened to some very successful people.

In this publication, we're going to tackle the topic of getting fired.  As part of that discussion, we'll first cite some pretty eye-opening unemployment / jobless statistics.  Next, we'll talk about several famous people that were laid off at one point in their lives, only to bounce back into a very successful career.  Finally, we'll outline steps that can help anyone that's been downsized get back on their feet.

Layoffs and Job Separations

We often hear or read about the unemployment rate in the United States.  That value is usually quoted as a percentage of the entire workforce, so it's difficult to understand exactly how many people are jobless.  It's also a "net" value, meaning it's a combination of people that were laid off and those that were hired.

A more insightful measure captured by the Bureau of Labor Statistics is layoff events and separations.  Layoff events are a count of the number of layoffs involving 50 or more individuals.  Separations are the total number of people that were fired for one reason or another.

The table below demonstrates that in 2009, there were nearly 11,500 layoff events, which is more than double the number of events back in 2005.  The number of separations was incredibly high in 2008 and 2009 too.  Over 3,500,000 people lost their jobs in those two years alone.

Job Layoffs and Separations

Fortunately, we're able to drill down one level and gain insights into why people were fired from their jobs.  Here we pulled a table of data from the fourth quarter of 2008.  While the information is not surprising, it does validate the pressure the Great Recession placed on the job market.

Layoffs and Separations (Q4, 2008)

The definitions for each of the above categories are as follows:

• Business Demand - contract cancelations, contract completions, saturated markets, import competition, and insufficient demand for products or services.
• Organizational Changes - business owners change as well as internal reorganizations.
• Financial Issues - bankruptcies, cost cutting measures, and pressure to increase profitability.
• Production Specific - automation, labor disputes, material shortages, and product lines discontinued.
• Disaster / Safety - hazardous working conditions and extreme weather.
• Seasonal - job naturally terminates at the end of a season.

The above data drives home the point we made earlier.  If you've ever been terminated, you're not alone.  It happens all the time, and unfortunately, to many individuals.

Successful People That Were Fired

It's understandable that many people that are fired from their jobs can become mentally depressed.  It's natural to go through the mourning period following the loss of a job.  But it's important to realize that you're life is not a failure just because you lost your job.  Ironically, failing was the opportunity of a lifetime for some very famous people.

Steve Jobs - Fired from Apple Computers

Co-founder of Apple Inc., Steve Jobs helped to design, develop, and market some very successful lines of personal computers, including the Apple II series and the Macintosh.  Jobs was fired from Apple in 1985 after a power struggle with the company's board of directors.  By 1998, he was once again CEO of Apple and returning the company to profitability.

Lou Holtz -Fired From the University of Arkansas

An author and motivational speaker, Lou Holtz is the only coach in NCAA history to lead six different programs to bowl games, and the only coach to guide four different programs to the final top 20 rankings.  In 1976 he resigned from the N.Y. Jets after a 3 Win - 10 Loss season.  In 1977, he was National Coach of the Year at Arkansas.  Ironically, he was fired from Arkansas in 1983.

Michael Bloomberg - Fired from Salomon Brothers

Three-time mayor and one of the richest persons in the world, Michael Bloomberg was fired from Salomon Brothers in 1981.  Mr. Bloomberg used his severance package to start Innovative Market Systems.  The company was later renamed Bloomberg L.P.

Regrouping after Getting Fired

There are many more examples of people that were terminated for one reason or another only to bounce back and find a way to be even more successful than before they were fired.  The one common theme you'll find in all these examples is the fact these individuals never gave up.

So what are some of the secrets to landing on your feet after getting laid off?  Well, it starts with getting yourself organized and ends with a new job:

• Personal Finances - the first thing you need to do after getting fired is to get your personal finances in order.  Make sure you receive all the money you're entitled to including your final paycheck, severance package, and unemployment benefits.  You need to hope for the best and plan for the worst.  Create a household budget and start lowering your discretionary spending.
• Medical / Health Insurance - if you worked for a company with 20 or more employees, then you're probably eligible for health insurance coverage under COBRA.  While many people that lose their jobs are likely to shy away from the premiums, it could be argued that you cannot afford to give up health insurance.
• Temporary Jobs / Freelance Work - until you're able to find a more permanent position, you should consider taking a temporary job or freelancing.  The extra money each week will help you to meet most of your financial obligations until you return to the ideal job.
• Career Path - losing a job creates a break that is a great opportunity to rethink your career path.  Maybe you were happy with the path you chose, but your skills are likely to be transferable to other careers too.  If you have any doubts, it's time to take a career assessment test.
• Relocation - another opportunity created when you're right-sized is the ability to relocate your home.  That's not to say it's a great time to sell your home and move.  But as you start your job search, you need to identify geographically desirable locations.
• Network - it's time to get reacquainted with anyone that can help you find a new job.  Statistically, networking is one of the most effective ways to get a new job.
• Resumes / Cover Letters - if you haven't updated your resume or cover letter in years, then it's time to dust off an old copy and start composing a resume that gets results.
• Job Applications - just like resume writing, there is an art and science to filling out job applications too.  Don't blow an opportunity by taking anything for granted.  You need to sharpen all your skills to maximize your chance of success.
• Interview Skills - if you haven't interviewed for a job in the last five years, things have changed.  You'll need to hone your interview skills too, and prepared for newer techniques such as STAR interviews.  You'll also need to be prepared to answer interview questions dealing with getting fired.
• Persevere - unless you're extremely lucky, it's very likely that you'll be rejected.  That's all part of the process.  If you're not offered a job, then either you're not a great fit for the position or you didn't come across during the interview as possessing the required skills or experience.  Learn from mistakes if they happen, more opportunities will materialize.

Finally, once you do find a new job don't forget to celebrate that achievement.  The road may have started out rocky and you might have hit bumps along the way, but soon you'll discover that losing your job or getting fired was not the end of the world.  In fact, for some it's just the beginning.

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