What is the Zero Interest Rate Phenomenon (ZIRP)? Many folks in the finance industry know the ZIRP term, with P standing for Policy, but not in tech.

In the tech world, Zero Interest Rate Phenomenon has become a frequent flyer acronym in Silicon Valley with job cuts. Employees in tech losing their jobs is becoming the new normal.

However, this phenomenon may not be happening only in Silicon Valley and may not only affect the tech industry.

If you speak to job seekers in different locales, there still seems to be a lot of downsizing and department reorganization, which may come without notice.

The dreaded “you no longer work here” message may be delivered by text, email, letter, or memo, during a one-on-one in an office down the hall, or by Zoom to a big group. Lockout on your computer may be instantaneous.

Post-pandemic employees have gone through The Great Resignation, The Great Reshuffle, Quiet Quitting, The Great Gloom, The Great Rehire, The Great Regret, and The Big Stay, among other terms.

It’s scary out there! Loyalty may be diminishing by employees as well as by employers. Job anxiety and job insecurity are affecting W-2 employees because of the “efficiency mindset” by employers, according to Business Insider.

The perks and benefits, along with the cushy salaries, are reduced or have disappeared to become more “efficient.”

So, how should you handle a gap on LinkedIn if you are part of the Zero Interest Rate Phenomenon? The classic answer is that it depends.

Revealing the gap publicly may depend on how long you are out of a job. On LinkedIn, you can use the Career Break feature for past gaps, but I would not recommend it for the current gap. Watch this excellent YouTube video by Melanie Woods, and you will see why.

Here are some tips on handling gaps using the term sabbatical, or you can work for a nonprofit so you have a “to present” job. You can also build a LinkedIn company page as a temporary filler.

Just know that job search is not a solo sport. It’s a team effort, so join job seeker groups to build your network, share resources, learn, find an accountability partner, and more.

Remember, there is no “I” in TEAM, so get help if you are out of a job or know it’s coming! See the links below for more information.

Have you read the previous article, Grammar Gurus Are Reviewing Your Resume & LinkedIn?

NEXT STEPS

• Subscribe to my newsletter on LinkedIn for bright ideas to manage your career.

• Join as a member at https://greatcareers.org/membership of the #1 business networking association on the Philadelphia Business Journal’s Book of Lists four years in a row!

• If you need a resume or LinkedIn profile to get you to your next step, book a call to chat!

• Follow #GreatCareersPHL

UPCOMING EVENTS – Registration info for 2024 events is on the events page.

• Mon Feb 26 – Chemical Reactions: A Metaphor for Life & Your Career
• Tue Feb 27 – Business Executives Networking Group (BENG) & Guests meeting
• Thu Feb 29 – Job Search 2.0: Demonstrating inclusivity in Your Career Quest