How to Handle Salary Negotiation after a Job Loss
Is an unexpected job loss in your work history preventing you from showing up confidently and negotiating for your worth at work?
One of the hardest things you may have to navigate in your career is losing a job. Even if you receive advanced notice that your position is being eliminated and a severance agreement, losing a job is a major live event. Job loss affects people both financially and psychologically – one study showing that 94.3% suffered depressive symptoms and 58.7% suffered with anxious symptoms while being unemployed. The question I receive from clients who have gone through this is: “How do I build confidence after losing my job and negotiate for future success?”
Have you experienced any of the below career events?
An unexpected job loss?
A job offer that fell through (after negotiating)?
Fear of not finding a new job and settling?
Comparing yourself to others: credentials, experience, age etc.?
Know a friend or family member who has lost a job?
I bet you’ve said “yes” to at least one of the above scenarios.
Job loss happens and it’s more common than we acknowledge. Money magazine reports 61% of people have lost a job for longer than a year by the time they reach age 70. Our work cultures are not setup to support those who have experienced the loss. Terminations are a part of business but because they’re typically surrounded by secrecy and silence, the repercussions for those involved can lead to feelings of shame, fear, and self-judgement.
So, how do you build confidence after a job loss and position yourself for future success?
You have to give yourself permission to overcome your fear of asking for more and negotiate. One of the biggest mistakes you can make in a negotiation is saying “yes” to the first job offer you receive.
You can confidently negotiate after losing a job because you retain your value in the marketplace. In order to get to a place where you feel ready to speak up, own your worth, and negotiate to be paid fairly and competitively in your next role, you have to:
ground yourself in your contribution and capabilities and articulate the value you bring to an organization
address the emotional components of negotiating which involve your relationship with money and your self-confidence
be aware of feelings of fear, guilt, anger, and sadness connected to your job loss
With the proper mindfulness techniques and strategies, an unexpected job loss can be turned into an opportunity to find clarity, pivot, and create financial abundance in your next role.
As one client shared, “I have recently come to know my worth, precisely because of a job loss in a job where I was not valued.”
The power of negotiation is rooted in your resilience.
OWN YOUR WORTH®
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You Must Consider Before Saying 'YES' to a Job Offer