How to Rebound from a Catastrophic Career Setback

A defining negative event does not have to redefine your career. Here are ways to pick up the pieces and move on.

The history of corporate America includes many stories of personal redemption and career resurrection. The business world has repeatedly proven F. Scott Fitzgerald’s observation that “there are no second acts in American lives” wrong.

Whatever the cause of your professional catastrophe, chances are there is someone who has faced a similar obstacle and nevertheless persisted.

It happens to the best of them

Some of the business world’s most celebrated leaders suffered professional failures that seemed insurmountable at the time but are now often-repeated examples of perseverance and success.

Consider Steve Jobs’ firing from Apple, or the first company Bill Gates founded, which was such a colossal bust no one remembers its name. Henry Ford’s first two car companies failed. And there’s a reason almost no one has heard of Richard Branson’s Virgin Soda and Virgin Vodka.

You don’t have to look far to find leaders who overcame bankruptcies to ascend to positions of power, for better or for worse. Their stories illustrate the importance of resilience and resolve, along with a healthy amount of self-confidence and a supportive personal network. 

It could happen to you

Three of the most common types of professional setbacks are loss of employment, loss of reputation, and personal losses that influence job performance. The odds are good that you or someone close to you will experience one or more of these career upheavals at some point.

The stage of your career in which catastrophe strikes plays a large role in your professional trajectory, researchers have proven. Confronting a potentially career-ending setback early on may actually provide the tools to eventually succeed. Here are some of those coping methods:

Perspective: It can make all the difference

It can be easy to become overwhelmed with negativity when your career is derailed by a defining event. While some setbacks are truly catastrophic—the loss of a business to a natural disaster, an abrupt firing for unjust political reasons—many may not be as bad in reality as they seem in the moment.

It’s always sound advice to seek the opinion of a trusted advisor who is familiar with the situation but can be counted on to give an honest, outside assessment. Seeing what happened to you from another person’s viewpoint can make the situation more bearable and your path forward clearer.

Surround yourself with allies

Lean on your network in times of stress. It’s important to identify trusted resources for their opinions and guidance, but it’s also essential to have supportive allies who prop you up during a difficult time.

Family and friends can provide you with the help you need to heal. While you are rebounding, also seek the counsel of former colleagues or people in your network who can offer advice and perhaps lead you to your next opportunity.

Decide how and when to fight back

In the wake of a career-defining moment, take time to conduct an honest self-assessment. Perhaps the path you were on was not truly the right one, and your setback just accelerated an inevitable break. Maybe some aspects of your temperament or skillset make you a better fit for another line of work or type of organization.

If you decide that a wrong needs to be righted, strategize a plan for fighting the good fight. But it is also important to understand the difference between giving up and moving on. Make your next move carefully and prioritize your future wellbeing over the need to settle a score.  

Trust yourself

Above all, do not let a negative defining moment define you as a person or as a professional. Think about your strengths and achievements to date and have confidence that you will be able to rise above the circumstances of the moment, however overwhelming.

Being confronted with a challenging professional setback or personal trauma does not have to mean the end of your career. Get inspired by the many successful business leaders who triumphed after huge failures—and get to work. Your ability to rebound from adversity will be the quality that makes you unstoppable in the long run. 

Carrington Legal Search is celebrating 20 years in business: we were in the trenches with our clients during 9/11 and 2008. We partner with our clients to identify leaders and mission-critical talent to shore up and grow companies even during the most challenging times. We are here for you! To make our nationwide network work for you, get in touch at 512-627-7467 or email carrie@carringtonlegal.com.