I keep hearing people offer "advice" to move on from the entire industry and I have to ask, where exactly are we supposed to go? Some of us have very specific skill sets that are invaluable in our field but useless anywhere else. Are you suggesting I should simply start from scratch at 56?
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I recommend joining a consulting firm. If your skills are truly invaluable Honeywell will be happy to offer you contract jobs and you now get to play the field.
Uber, Lyft, Door Dash, YouTuber, and buying a Franchise. Then you got to get a side hustle like mowing grass in your neighborhood and a snow plow for the winter months if it snows in your area. Opportunities like that.....
In the abysmal Canadian operations only the optionless remain behind. Marketable skill sets are easily shopped around, while others have the financial wherewithal to pursue new careers or simply retire early.
Two words: Early Retirement
You cannot get any years back, no matter how much money you have. Been there, done that, wouldn't trade it for the world.
It will be hard, but yes you can move to something better. Your knowledge and skills are valued if you can find the right audience and be able to sell yourself. Don't be resistant to change, and be ok with probably not working on as technically challenging projects as you are used to, BUT the tradeoffs are more than worth it.
I left that stinking mess almost five years ago, first to a small company within the industry where I was valued for my knowledge, treated basically as a consultant, then moved to the medical industry about a year ago. An adjustment at first? Yes, but now I work on projects that directly benefit human life Also, it is so refreshing to hear from all levels of leadership how much they value the employees, backing it up with surveys that actually lead to improved culture and benefits. Amazing, right? I had forgotten what this was like, but it is hard to describe how much better things can be, away from the Honeywell pyramid of a–holes.
It is a tough situation to be dealing with in your 50's. You know the situation at HON is untenable and that a change is needed. If you made it through engineering school you are smarter than the average bear. Try to stay positive and avail yourself of resources that can be helpful in your search.
Don't overlook universities. Most have research labs. Most fall under state employment benefits.
The research institutes are generally not for profit leading to less stress and things like rifs and furloughs. Can be leading edge technology research and development and the variety is awesome. Remember that they are academic institutions so stress your education and degrees on the CV.
@gmn nailed it!
I switched from a STEM career to the hot field of project management simply by taking on more and more "special projects" and making a deliberate effort to learn more about the skills needed to manage the projects well. I don't mean getting a PMP certificate, though that would be great...I mean by taking LinkedIn classes and just googling things like effective presentation methods, project management, change management, team leadership, and such. There's a lot of free info out there to help you become conversant with the next steps once you decide what direction you'd like to move in.
The key at your career level is that you must move from what you've been doing for half of forever into what companies currently value – agility, business process automation, knowledge transfer, virtual team leadership, and business insights from data analytics. I'm older than you, and for the last half of my career I've been doing jobs that didn't exist when I went to school.
Assuming you're an engineer, make a list of everything you do at work that is not strictly engineering, though it might be related to it (hint: process improvement, training the newbies, influencing suppliers in regards to specs ...). That list is what you use to reinvent yourself based on things you have actually done. Good luck!
Step One: Hire an employment "coach" who can work with you not only for jazzing up your resume (things are a lot different now versus when you were coming out of school), but they can also test you to help you in identifying the type of work best suited for you. It might be something you never considered, like teaching or working at a non–profit. You can find these coaches on LinkedIn and they don't charge an arm and a leg either. If you get RIF'd don't use that firm the company pays for. It's a complete waste of time.
Step Two: Send out the resumes and keep planning. Don't accept the first thing down the pike, unless it's your dream job and all the boxes are checked. Some changes might require readjustment of salary. I speak from experience in that going from a "highly compensated" salary with the company to making less at a small, privately owned company was a "hit" but one well worth the difference. How much would you pay for a good nights' sleep? How about working for a leader who is interested in YOU as a human being and never once thinking of you as a financial liability?
Step Three: Take the new job and never, ever look back. Stay in touch with your former co–workers on social media and LinkedIn, and over time you'll sense the envy in their messages. If you were to go back, even a few months later, it will be a much different company (again, trust me on this, as someone who left and came back more than once!). The new CEO sees no value in Aerospace, and the company is mutating into something none of us could understand. They've lost business at every OEM manufacturer (but hey, we're on the DJIA!). Go find a small company with a desire to grow and be an agent of growth and leave "future shaping" to the poor ba*tards left behind.
Good luck!
Also, don't forget to stay in touch with former colleagues who now work in other industries. I was in Aero and after being subject to RIF was approached by former colleagues for possible jobs with the FAA, in the medical device industry, and in the Defense industry. I eventually took not the most glamorous offer, but one that did not require me to move (for family reasons). Turned out to be the best thing that ever happened to me (at least compared to my last few years at Hon). Good luck to everyone.
@OP, Believe me when I say that IT IS SCARY! I found a new position, quit honeywell after over a decade, worked the new job for 3 days and was literally begging to come back. Unfortunately, HW is very unforgiving if you quit, especially if you leave them in a he!! of a pinch. It doesn't matter if they created the impossible situation that drove you away, HOW COULD YOU DO THAT TO HW? More to the point, please, please, please make sure you have A GAME PLAN that you are sure will work out for your future. I'm not ashamed to admit that over the past 2 years I've applied for at least 6 different positions to get back into HW, to no avail. I wouldn't want anyone to be in my shoes. So, please, follow good advice (@vzt), make your decision and just know that IT WILL BE LIFE CHANGING, preferably for the better. Take Care my Friend
First you must ask yourself if you are willing to move. If not, then your options may be few.
Otherwise, get on linkedin. Connect with anyone that you worked with that have moved on. Have a good resume with key words that get attention. Tag your profile as open for job offers. Do not be surprised if you start getting head hunters calling you.
Next, look at direct competitors. Next look at other industries. For example, if you design PID logic for jet engine controls, then you can work doing the same in car engine or Windmill controll systems.
Then do not discount usajobs.gov
This is where you go for jobs in the FAA, NTSB, military bases, etc.
Pay is low, but amazing benefits. Especially retirement benefits (i.e. free home nursing). It is hard to figure out how to apply, put in short, you don't need to be a professional engineer if you have 10 years of experience, and you need to upload all college transcripts. Otherwise, you can search online to figure out how to answer all questions.