Should I disclose layoff or frame it as lateral recruiting?
Recently got laid off and getting paid normally June, which is my official severance date.
Should I tell HH and people I'm networking / interviewing with that I'm interested in lateral opportunities or be up front that I was laid off and looking for lateral opportunities?
Similarly, does this change with coffee chats / cold emailing?
Thanks.
Based on the insights from Wall Street Oasis, it's generally advisable to be upfront about your layoff when networking or interviewing. Here’s how you can approach different scenarios:
Networking and Interviews: Mention that you were laid off due to circumstances beyond your control (such as restructuring or downsizing) and not due to performance issues. This honesty can build trust and show your integrity. It’s important to frame it positively – focus on your skills, experiences, and what you can bring to the new role.
Coffee Chats/Cold Emailing: In less formal settings like coffee chats, you can be more relaxed in how you introduce your situation. Start by building a rapport and discussing industry trends or mutual interests before mentioning your layoff. When you do, keep it brief and positive, focusing on your eagerness and readiness to explore new opportunities.
Lateral Recruiting: When discussing lateral opportunities, it's beneficial to be clear that you are exploring these due to a layoff. This clarity helps set the right expectations and can also lead to more tailored advice or opportunities that might suit your situation.
Remember, layoffs are a common part of the corporate world, especially in fluctuating industries like finance. Most professionals understand this and appreciate honesty and professionalism in handling such situations.
Sources: BB Analyst Impacted By Layoffs - Looking for Insight, https://www.wallstreetoasis.com/forum/job-search/suing-a-former-employer?customgpt=1, https://www.wallstreetoasis.com/forum/investment-banking/laid-off-in-may-at-my-wits-end?customgpt=1, Being Fired and being upfront about it, Staying Alive: 4 Tips for Surviving Corporate Layoffs
This is a good question bump
Bump
Still going through recruiting, but I included my layoff in my story. Usually, they don't ask but if they do I would explain the situation upfront and the transferable skills I've developed at my previous firm that are transferrable to the current role
Curious why you disclose? I have been framing it as lateral recruiting, but would answer if asked point blank about my employment status.
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