COVID-19 has had an unprecedented impact on the beauty industry. The domino effect of retailers closing for social distancing has led to purchase orders being halted impacting sales revenue for beauty brands, therefore impacting orders with contract manufacturing and packaging partners supporting product replenishment. “Cashflow is ‘very strained,’ per ICMAD’s data, showing that suppliers are demanding money up-front or offering extended payment options. At the same time, customer payments are slowing even as purchase orders get canceled.”(GCI Magazine)
Social distancing orders have caused hair salons, nail salons, and aesthetic establishments to close their doors, resulting in sudden unemployment for employees as well as a ripple effect causing brands that utilize salon and spa distribution to furlough their teams.
Although we are all dealing with uncertainty, if we look at past economic downturns, the beauty industry has proven to be resilient. “A downturn in the economy has been linked to an upswing in beauty sales since the Great Depression, according to Hill, whose research is published in the Journal of Personality and Social Psychology. Figures from market research company NPD Group Inc support the phenomenon. Their numbers show that skin care, makeup and fragrance sales increased 11 percent in the United States in 2011 compared with the previous years. (Link to article)
At Premier Executive Recruiting, our goal is to support candidates through this time. Our team has created the following as a resource to support those whose employment has been impacted through furlough, layoffs, or uncertainty for long-term stability in their organizations as a result of COVID-19.
Over 6 million people filed for unemployment in the last week. (Forbes). Each U.S. state is offering several options for workers who are affected by reduced hours, furloughs or layoffs.
Unemployment information, available resources being offered by California (active links included below):
- CARES ACT Federal Stimulus
- This article outlines what the CARES Act is and how it affects you https://www.thebalance.com/2020-stimulus-coronavirus-relief-law-cares-act-4801184
- “The historic $2 trillion CARES Act will be an economic lifeline for gig workers and freelancers” https://www.cnbc.com/2020/03/30/cares-act-will-be-an-economic-lifeline-for-gig-workers-freelancers.html
- The EDD provides a variety of support services to individuals affected by COVID-19 in California https://www.edd.ca.gov/about_edd/coronavirus-2019.htm
- Paid Family Leave – Caring for quarantined family member makes you eligible for 60-75% wage replacement for several weeks.
- Unemployment insurance (California): https://www.edd.ca.gov/unemployment/
Unemployment insurance claim can be filed if either hours have been reduced or if you are laid off. If 30% of your hours have been cut, you can file for 30% of your unemployment insurance benefit. https://laedc.org/coronavirus/#paid-family-leave (Source)
- Disability Insurance – If you have lost wages because you have COVID-19 or have been exposed to the virus and need to self-quarantine, you can file a Disability Insurance claim. Eligible workers can receive around 60-70% of wages, ranging from $50 to $1,300 per week. The one-week waiting period has been waived for people who are disabled due to COVID-19. You can file a new claim through SDI Online.
Our recruiting team has created the following check list to help you update your resume and LinkedIn profile to help you highlight your achievements to stay competitive in the market.
Update your resume:
- Update your resume focused on impact and achievements. Follow this link to read our article, “Creating a Value-Driven Resume”
- Highlighting achievements particularly impacting sales/revenue and or a turnaround scenario is going to be key in the current economic climate.
- Refrain from writing long paragraphs. Instead outline your achievements in concise bullet points using the STAR Method. STAR framework (Situation, Task, Action, Result) is a popular interview method however the same format can be applied to your resume or LinkedIn profile (Link for more info)
Update your LinkedIn Profile:
- Update your contact details to ensure the email and phone number associated with your profile are current. You can also add your contact details in your summary.
- Update your professional photograph to reflect that you are actively exploring new opportunities (you can also list under the header)
- Turn on the “Open to new opportunities” to signal to recruiters or hiring managers that you are open to exploring new roles (Link for how-to)
- The summary portion on your LinkedIn Profile can be utilized to highlight top achievements, summary of your skill set and career goals.
- Detail descriptive achievements that create a “WOW” factor will create a point of difference
- Highlight any awards you’ve received as a top performer
- Include any Beauty Associations you are affiliated with (BIW, CEW, etc.)
- List tradeshows that you attend (Cosmoprof, Makeup In LA, BeautyCon, etc.)
- Optimize your headline, summary and work history with specific keywords such as your title, distribution channels, categories. All are critical to showcase your unique skill set and to be discovered by recruiters/hiring managers relying on keyword searches to identify beauty professionals.
- LinkedIn provides tips on How to Build your Profile Summary
- Is your title unique to your company or standard across the industry? Unique titles can cause confusion and lead to hiring managers reaching out for the wrong opportunity. I recommend focusing your job function, keywords and titles in your profile to attract the type of opportunities your seeking.
- Upload your resume to your profile
- Upload a portfolio to showcase your work
- Considering relocation? Add “Open to relocation” to your LinkedIn profile to signal recruiters and hiring managers (Link)
Interview Support:
- Article “3 Simple Ways to Communicate Effectively”
- Article “Strategies on Presenting a Portfolio”
- Article “The Power of Storytelling”
- Article “Avoiding Tangents During the Interview Process”
Follow Premier Executive Recruiting on LinkedIn to receive the latest beauty trends, beauty stats and career opportunities on a weekly basis as we keep you informed of the evolving beauty industry. Click here to Follow Premier
