Wednesday, August 12, 2009

The Bright Side of Job Loss

By Gary Cohen, MBA, Certified Executive & Career Coach
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Losing your job during these tough economic times is a traumatic event and the realization of one of our greatest fears while we are employed. This is particularly difficult for breadwinners who feel the self-imposed pressure to “bring home the bacon.” When this misfortune strikes us, our first thought is to search for the same type of job in the same industry, simply because this is what we know, are comfortable with and believe to be our best opportunity. Few executives and managers take the time to evaluate their career satisfaction over the past several years, simply because we are creatures of habit and by nature resist change. However, we are assured a better quality of life if we are passionate about our work and look forward to it each and every day. Shouldn’t we be taking stock in this truism?
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My point is simply that job loss is a golden opportunity to revisit our career aspirations and make positive changes. It is a time to consider reinventing ourselves. We don’t have to lose our jobs to go through this exercise. I speak from experience, as I left a senior management position to become a business school faculty member and certified executive and career coach. Think about what you are passionate about and the activities that feed your soul. Wouldn’t it be great to earn a living around these passions? Many people successfully transition to new careers where they experience the delight of doing what they love every day.
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If you are out of work and love what you were doing, look to continue in your field with another firm. If you are no longer passionate about your work and need a paycheck now, it would be prudent to search for a position in your current field, but don’t ignore the opportunity to reinvent yourself and follow your passion. You may find that losing that job was a blessing in disguise.
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Gary Cohen is a faculty member at the Robert H. Smith School of Business at the University of Maryland and a principal of Forward Action Coaching, LLC where he specializes in executive, career and family business coaching. Free 30 minute consulations available.
Visit Gary's website at


Anonymous said...

Ok, so here is a little booklet which seconds this opinion and offers a lot of help for the "in between" jobs situation - worth a look - visit

Rachel | Executive Jobs said...

This is quite a different point of view towards something that can shatter ones hopes of better development. It is true that while for a particular profile one comes across many other options but is unable to pursue them. This thought process seem potential enough for an individual to understand what he/ she really wants to do.

Rachel said...

Yes I also think that job loss is also a helpful way to improve your personality and review your mistakes which you made in past.In this free time you can learn something new for your career.

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