Career Lessons from a Bankruptcy

Welcome, listeners! The Old Jar Head is back with another podcast to help you achieve the best career possible. By simply following my advice, you're guaranteed to see significant improvements. Today, we're discussing valuable career lessons we can learn from a bankruptcy situation. Now, if you've been following recent news in the United States, you may be familiar with Yellow, a large trucking company that faced bankruptcy due to excessive debt and the impact of COVID-19. However, this discussion isn't about the company itself or the effects of the pandemic, but rather what we can learn about our own careers. When Yellow declared bankruptcy, over 20,000 employees were suddenly locked out and unable to work, even if they had loads ready to haul. This serves as a reminder that no matter how much you enjoy your current job or how well you've been treated, you could be just days away from losing it. Economic conditions or decisions made by senior management may lead to unexpected job loss. So, what can you do to avoid a career catastrophe if you find yourself in a similar situation? Here's some valuable advice: Start setting aside money from each paycheck to create a financial cushion. The amount you save should depend on your marketable skills. Those with high-demand skills may only need to save for a month, while others with less in-demand skills should aim for about six months. Continuously improve your skills to make yourself more valuable to potential employers. Consider learning new skills or staying updated in your industry. For example, truck drivers could benefit from developing coding skills. Build a strong professional network within your field and keep it active. This network should extend beyond your current coworkers. Engage with people from social or religious organizations and broaden your connections. This network can provide valuable advice or even job opportunities. Keep your resume up to date at all times. If you unexpectedly lose your job, having a polished resume ready will give you an advantage when searching for new opportunities. Competitors of companies experiencing closures often seek to hire the talent that was let go, so you want to be prepared and not miss out due to an outdated resume. Consider this situation as a potential opportunity to explore new career paths. While you may have enjoyed your previous work and company, it could be the perfect moment to make a change. Don't be afraid to think broadly and consider if there's something else you've always wanted to pursue. To recap, take immediate action by saving money, continuously improving your skills, building a diverse professional network, keeping an updated resume, and embracing the possibility of a new career path. If you feel that a career change is the right move for you, my book "Find a Job That Fits Your Life" will be an invaluable resource. It's available on Amazon, so be sure to check it out and read it.

Thank you for listening! Please subscribe, like, and share with your friends. I appreciate your support, input, and questions.

Website: https://www.dennisguzik.com

Pick up your copy of “Find A Job That Fits Your Life” by Dennis Guzik today! Stop wavering over whether it’s time for a big move - get all the support and resources needed in one place so can make the best decision possible without any regrets!

I release a new episode every Tuesday, and each one is about 7 minutes in length.

My podcast is available on:

Apple: https://apple.co/3NqN95Z  

Google: https://bit.ly/3LAsBXv

Spotify: https://spoti.fi/3MClzmv

Stitcher: https://bit.ly/3xrxIVX