4 Insights Accounting and Finance Candidates Can Take From Recent Tech Layoffs

You’ve seen the breaking news about recent layoffs at Twitter, Meta, Stripe, and more. These changes in the tech industry are sending shock waves across the employment landscape, but there’s still good news on the horizon.

Highly-qualified accounting and finance experts remain among the most in-demand professionals, especially in competitive markets like San Francisco and Austin. If you’re facing an impending layoff or your company’s future is uncertain, now’s the perfect time to reassess your options and look for fresh ways to make forward progress in your career.

In more than 18 years of helping accounting and finance professionals secure new positions, BVOH has always found that transitions hold tremendous opportunities. Here are 4 takeaways that should inform your job search.

1. Control what you can

When you’re at risk of losing or have lost your job, your stress level rises and it’s hard to step back and see the bigger picture of your career. So before a layoff is announced, take a deep breath and shift your focus to controlling everything you can control about your future. Think through what you’ll do if the possibility of a layoff becomes a certainty.

Be intentional about what you do next. For example, you can reach out to your contacts across the industry to reconnect with them and see how they’re doing in the current environment. Offer kind words of interest and support. You might just discover that their successful company is currently looking for someone new in your field.

Stay positive, even when you’re feeling conflicted about what’s happening with your current employer or your industry in general. Focus on sharing your optimistic outlook and your outstanding credentials with another company that’s the right fit.

2. Take time to reset and reassess

Paradoxically, slowing down can sometimes speed things up in the hiring world. When you take time to reevaluate your options and carefully brainstorm what to do next, new opportunities begin to materialize around you.

At BVOH, we’ve found that qualified people with strong resumes are landing great jobs quickly even in the current environment. For example, one of our long-term relationships who was a former controller was laid off unexpectedly but found an even better job within 4 weeks. By reconnecting with a colleague through a former employer, he secured a new role as a chief financial officer (CFO), which is always a tough ceiling to break through—and even more impressive in this economic climate.

Approach every interpersonal connection as a potential opportunity for your next job. Take a welcoming and warm approach, without coming across as sour about the job market. The Harvard Business Review reports that after layoffs, the most successful candidates are the ones who can break free from the loop of negative self-talk and operate with positive, uplifting mindsets.

3. Set yourself up for success

Accounting and finance professionals often wonder what their priorities should be before and after layoffs. Here are some of the most important things you should do immediately to set yourself up for success.

Update your resume 

Brush off your old resume and if it’s years out of date, radically update it. Refine your resume style to meet today’s standards and update its key points to showcase yourself as a highly-qualified professional working in modern accounting/finance.

Also, update your references and check in with these contacts to ensure they’ll still be a positive resource for you. Leave no room for the risk that a new career opportunity could be ruined by a mediocre recommendation.

Refine your messaging

Your credentials might be the best in the business, but how’s your messaging? Refine how you think about yourself and speak about your experience. Brush up on your interviewing skills by finding a mentor or coach to practice with. Interviewing is like a muscle which will atrophy without regular use. Don’t be unprepared and blow an important interview due to lack of practice telling your story. To stay ahead of the game, ensure you’re using the most up-to-date technical terms relevant to your industry.

Keep in mind that after a layoff, you’ve lost a little leverage during the interview process. You’re not negotiating against your current role or compensation, so you have a power differential to overcome. Develop a succinct and articulate answer to the natural question of why you were laid off. Sell yourself to new people based on your flexibility, versatility, and resilience in the face of change.

Leave positive impressions

There can be a temptation to leave in a blaze of glory after a layoff, succumbing to your frustration and burning bridges as you go. But this could damage your career and personal reputation, so resist the urge.

Instead, leave your current employer with an impression of complete professionalism and integrity. Protect your legacy. When you interview for a new job, remain respectful toward your previous employer and focus on finding a fresh future with a new company. Your positivity is contagious and encourages a potential employer to welcome you with open arms.

4. Remember, the right fit is out there waiting for you

All it takes is one connection to launch your career into a new stage of success. BVOH is your partner in finding the right match, so please reach out to us to learn more about moving forward with your accounting or finance career.

Connect with BVOH today to learn more about the current job market and to strategize on your path forward.