GUEST COMMENT: 5 ways you can help former colleagues get back into the market
Remember your ex-colleagues? Remember the people who used to work with you and are now at home wondering whether they'll work again? They need your assistance.
You might ask, 'Why bother?' After all, former bankers don't exactly classify as mainstream charity cases. Admittedly, ex-bankers don't have an urgent need for money, but there are still a lot of very bright, skilled people out there who deserve another shot.
It's also worth remembering that a big part of success in business is exchanging favours. If you believe in karma, here is a good chance to earn some. If you're a hardcore Darwinian, don't rule out the possibility that someone you don't help might end up being your boss one day. It can happen.
Personally, I have helped several ex-colleagues. Some have found jobs through my endeavours, some haven't. Here's what I did:
1) Job referrals
If you are any good at what you do, you probably know a lot of people in the market and are in a position to find out who is hiring. Let your former colleagues know.
2) Market information
One challenge facing redundant job-seekers is that they don't have the tools that employment provides. They lack the screens and the floor chatter to keep abreast of market trends or the gossip that isn't visible on the internet. Helping them stay tuned in will make them look (and feel) like they aren't obsolete in their next job interview.
3) Leverage your own network
Recommend your former colleagues to people who are hiring decision-makers, especially business unit heads, HR partners or recruiters. Unsolicited third party recommendations have a special credibility among hiring managers and recruiters. If you do not know hiring decision-makers, there might be people in your network who do - consider calling in a favour or two. You might consider inviting your former colleagues to join you at parties, gatherings, etc. where it is possible for them to make useful new connections.
4) Invest in them - literally
If you've got the money and you believe your former colleague has a profitable idea, consider staking them in a new venture. If you get it right, the payoff could be greater than the "feel good" factor. But recognise that altruism is one thing while venture capital is another, and different rules apply.
5) Persist
People who are made redundant often receive notes of sympathy right away and then..... nothing. They become more and more isolated while everyone else gets on with their own lives. This is the point where you can transform sympathy into sustainable support. Email asking how they're doing. Invite them for coffee now and again. Offer help. Deliver on your offers. And don't question them about their job search: they'll volunteer any good news they have and likely will feel awkward about having to admit when they have none.
One caveat: recognise bigger problems when you see them. Some redundant people are emotionally fragile and might begin to display symptoms of deeper problems.
Clinical depression, substance abuse, etc. are surprisingly common among the redundant.
People in this condition are not in any shape to seek a job. Consider being brave enough to suggest delicately that they have a "health issue" which might be an obstacle to getting back on track. Try to persuade them to seek professional help, perhaps even going so far as to help identify sources for treatment. Beyond that, you're probably out of your pay grade.
Ad meliora.
The author is a compassionate banker who lost his job, but has found another one.
