The Real Cost of Unemployment
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There are no tricks to finding your perfect career, but going about it in the wrong way can distract from your job search and making it take longer to find your next position. For instance, many job seekers spend much of their day on the Internet searching the job boards. Unfortunately, only about 6-10% of all jobs are ever posted on these job boards. Smart job seekers understand that the key to finding the perfect career fit requires them to conduct a career marketing campaign.
A career marketing campaign begins by helping you focus your strengths and accomplishments into quantifiable statements that will show prospective employers what you can offer them – i.e. ways you can help them make or save money.
Once you have determined your key accomplishments, the next step is to find people and companies who need what you have to offer. Sending out resumes en massé will just put your name into a pile of 500 to 1,000 candidates. A proactive career marketing plan will allow you to be one of only a handful of candidates, rather than one in 1,000.
So why would you want to calculate how much you unemployment costs? Isn’t that just a straight shot to depression-ville? Not really. I believe that one can make wiser decisions when they are better informed. If you don’t know what unemployment is costing you, you should take a few minutes to do the calculations. Trust me, it WILL help!
Here’s a simple way to calculate the cost of your unemployment.
1) Your desired monthly salary $_______________
2) Subtract your current monthly income (i.e. unemployment, severance, etc) $ _______________
3) Equals your monthly LOSS of income $ _______________
If your monthly loss of income is $500, then in 3 months your will be out $1,500. If you are $2,000 in the red each month, 3 months will take $6,000 out of your savings or put you that much deeper in debt!
When you know this information you really have two options:
- Trim expenses.
- Invest in tools to help you cut time off your job search.
What is it worth to you to cut time off your job search? What is ONE week worth? A month? 3 months? How much more time are you willing to WASTE on your job search?
The tools found in the Premium membership of Careers 2.0 can help you cut as much as 50% of your job search. Isn’t that worth a $149.00 investment?
Click here to get started with your Career 2.0 Premium subscription.
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3 Responses to “The Real Cost of Unemployment”
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Nice job Sean. We encourage many seekers from the breakfast club to consider what their prior salary was (or might be) and then use a rough number of 150 sales calls (notice I didn’t call them networking or informational interviews) and treat every contact as a possible sale. See…many people understand that finding a job is a full time endeavor yet they only spend 20-25 hours per week in high-return activities like networking…I mean sales campaigns. Therefore if you earn $90,000 per year and need to contact 150 people, each person is worth $600. That sounds great on the surface, right? Until we start treating every contact like it’s worth $600, none of them will ever be worth that much. What you do is your product, your current profession is SALES, and convincing customers (hiring managers) that yours is the best product is your goal. Keep the great insights & tools coming & improving Sean.
Wow, $600 per contact! How amazing that would be if each of us treated EVERY contact with that kind of expectation. Yes! I wholeheartedly agree Andrew. Thanks for the practical application of this tool.