Everyone has two runways in an active job search.
The obvious one is the financial runway— simply how much money you have and how long will it last. Of course, that’s arrived at by looking at your monthly out-of-pocket expenses and the amount you have either in short-term savings and/or severance and in some instances, long-term savings, 401(k)s, etc.
For many, the runway is established as two buckets, the first being the savings or cash on hand that you can touch without a penalty. The second bucket is determined by when you would need to dip into savings that could have a penalty associated with it.
The less obvious runway, but one that is just as real as the first one, is the emotional runway. What is an emotional runway? It is the toll the search is taking on your overall well-being, and especially on your mindset.
So, you may have a comfortable financial runway, but the roller coaster ride of your search is taking an emotional toll on you. I have people reach out to me after being in their search for just a week or two and they tell me, “I am climbing the walls.” This is real and it is something that should not be ignored.
Step one is to evaluate both runways, and just as you check your bank balance regularly, you must check in on the emotional toll on a regular basis, so that you will know when it is the right time to adjust your strategy from a Plan A to a Plan A/Plan B approach.
Next week, I’ll be sharing the next step in ensuring your Plan A and Plan B are Bulletproof. Keep an eye on your inbox for Part 2.
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