This article was updated on December 5, 2023.
Written by聽Kara Dennison, SPHR
Written by Jessica Roper, MBA
It's been a tough few years when it comes to career certainty, and if you're worried about joining the ranks of the laid-off, you're not alone.
Losing your job is hard enough. There鈥檚 the stress of paying the bills and the emotional tug of feeling expendable. But there鈥檚 also the job search process.聽Successfully navigating the job market聽requires skills and strategies that don鈥檛 always come naturally, and when you鈥檙e navigating with a level of fear, it can make the next step in front of you even harder to find.
But it鈥檚 not impossible. If you鈥檙e an employee who has been laid off or are just worried you鈥檙e about to be, take a deep breath. Here鈥檚 what to do next.
Getting laid off can be a very emotional time. However, many employers will offer聽severance pay聽or a limited continuation of your pay when terminating your employment.
You may feel relieved to get any continuation of pay, but take the time allotted to you to聽review your contract聽so you can read the fine print. (Also, don鈥檛 forget that severance pay is taxable. Plan ahead!)
During the termination meeting, take notes, ask questions and don鈥檛 sign anything immediately. Give yourself time to think through the next few months and arrive at the answers to these critical questions:
If you think a layoff is coming, review your company鈥檚 policies now to be prepared with the right questions and information should the worst happen.
The next step is to get unemployment help by聽filing for unemployment benefits. These benefits can provide temporary financial assistance after your layoff while you hunt for your next gig.
Check out your state鈥檚 unemployment agency or the聽聽to get started.聽Eligibility requirements聽vary by state and are based on factors of your layoff such as the reason for separation and wages earned.
While you鈥檙e at it, review your聽, commonly referred to as COBRA. If you were given a severance, continuation coverage may be something you can negotiate into the package. If not, check to see if you are able to maintain employee health benefits for a limited time. Or, check out the聽聽to explore your eligibility for special enrollment periods that may be available.
Being laid off is stressful, especially if you鈥檙e worried about money. Evaluate your聽income, expenses and savings聽to create a plan that will help you stay afloat during your hunt for employment. Don鈥檛 forget to include recurring expenses like mortgage or rent, utilities and gas. Consider cutting back on non-essential expenses, including any superfluous subscriptions, to help make your money stretch for as long as possible.
Explore local resources, such as food banks or聽rental assistance programs, to stretch your budget. These resources exist for this exact reason, so let them help support you during tough times!
Additionally, consider getting in touch with聽creditors, utility providers, gym memberships, and even internet and cable companies聽to ask for discounts or promotions, even for just a month or two.
It鈥檚 time to look for new employment. Here鈥檚 how to set yourself up for success.
Spend some time reflecting on the projects and results you鈥檝e accomplished throughout your聽career and start updating that resum茅. Make sure your resum茅聽highlights your accomplishments and achievements聽so hiring managers and recruiters can quickly and easily see your impact and value.
Optimize your LinkedIn profile聽to ensure better visibility to potential employers. Make sure:
Becoming active on LinkedIn will help you connect to hiring managers and recruiters, so consider logging in regularly and聽targeting ideal decision-makers and employers.
While seeking employment, make sure to prepare for your interviews.聽Research聽the company and position you鈥檙e applying for and practice answering interview questions out loud. Be ready to talk about your work history, employee accomplishments and gather questions of your own.
If asked, be prepared to talk about your layoff. Never speak poorly about your previous employer but be ready to address the situation and why you are a good fit for this new organization. Consider seeking the advice of a professional resum茅 writer or career coach to help you prepare for these conversations and ensure that your resum茅 and LinkedIn profile are as strong as possible.
Networking is key to any successful job search. Reach out to your聽contacts and colleagues聽to let them know you鈥檙e looking for work. Also, create connections with industry professionals through social media, especially LinkedIn. Building strong relationships with other employees in your industry can help you find job opportunities. In fact,聽聽than website applicants, according to Zippia.com.
In my own consulting work, I have found time and time again that workers are nervous to network but eager to help. Now is the time to get out there and聽ask for help! When you鈥檙e gainfully employed, you can return the karmic favor.
It can be hard to find the silver lining in a layoff, but consider this: If you鈥檝e ever dreamed about a聽career change, now is the time!
Perhaps you could expand your job search to related fields or positions you overlooked in the past. Use online job search engines, attend job fairs and network with other workers in your field or different fields that appeal to you to increase your chances of finding a new position.
Perhaps the most important aspect of the transition from unemployment to employment is your聽mindset. It鈥檚 important to stay positive and optimistic in the face of the stress and uncertainty that come with a layoff. Wherever you ultimately end up next, you can take this time to explore new career paths and discover how capable you truly are.
While it鈥檚 impossible to predict if or when a layoff might occur, you can take proactive steps to protect yourself.
Consider cutting non-essential expenses and building an emergency fund. Ideally, you鈥檇 build up enough cash to cover聽three to six months of your monthly budget聽in case something happens. And if something does happen, removing financial stress from the equation lets you hit the ground running on your job search.
The job market is constantly evolving, so it鈥檚 important to keep your skills up to date.聽Take courses聽or attend聽training sessions聽to learn new skills or enhance your existing ones. This makes you a more valuable employee or a more attractive candidate to a hiring manager. Also, knowledge is power: Equip and market yourself as the聽expert you are!
Most employees are willing to network for a new job but are hard-pressed to find the time during their busy workweek. Try聽setting aside time each week or month聽to network anyway. You can even create a recurring appointment in your calendar to keep you accountable.
By staying active in your networking game, reaching out to industry leaders and growing your presence on LinkedIn, you will be well positioned if the day does come that you鈥檙e let go.
After writing thousands of resum茅s, I can tell you it鈥檚 surprising just how many workers forget the great things they鈥檝e聽accomplished throughout their careers. To counteract this, I highly recommend keeping a 鈥渒udos folder鈥 on your personal email, Dropbox or Google Drive. This file should store notes on all the聽incredible projects聽you鈥檝e completed,聽accolades聽you鈥檝e received and accomplishments you鈥檝e nailed. Having a working list will not only help you in updating your resum茅 but also in driving your confidence and successfully sharing your achievements during interviews.
Getting laid off is never fun, but it鈥檚 also part of a lot of people鈥檚 careers. Remember: Prepare for the worst, hope for the best and stay focused when it鈥檚 time to change jobs.
Don鈥檛 embark on your career journey alone! 澳门天天彩开奖记录 equips its students and graduates with the following resources to help them on their professional paths.
ABOUT THE AUTHOR
Kara Dennison is a certified Senior Professional in Human Resources (SPHR), an executive career and leadership coach, and a Forbes contributor. She鈥檚 the CEO of Optimized Career Solutions. Her dream job is helping high achievers and leaders live authentic lives, starting with their careers. When she鈥檚 not writing for 澳门天天彩开奖记录 or coaching high achievers and leaders, you can find her hanging out with her husband and two black cats or swinging in the hammock out back in her small, remote town in Tennessee.
Jessica Roper, 澳门天天彩开奖记录 director of Career Services, is a seasoned leader with over 15 years of experience in leadership within higher education. She has honed her expertise in student services and career development and is passionate about helping others discover and refine their skills.
This article has been vetted by 澳门天天彩开奖记录's editorial advisory committee.聽
Read more about our editorial process.
Read more articles like this: