It is scary to be told you are getting laid off from a job that you love so much and has been paying your bills. You are likely to feel helpless and even surprised if it was a sudden announcement. Regardless of whether you got sacked without warning or not, the truth of the matter is that you are now jobless. However, you are not alone. According to the Bureau of Labor Statistics, over 1.4 million people permanently lost a temporary or a stable occupation in 2019. So what to do you do next? Here are tips for surviving a layoff.
Unemployment Is Not the End
The biggest fear of people who have been laid off is that they may not get a good position like the one they just lost. You may also feel like the experience will hinder the growth of your career. However, it’s not always the case.
A recent survey from Airtasker shows that 77% of employers have no problem with hiring someone who has been fired from a past job and over 80% of workers who lost their employment found another within six months. So while not having a full-time job is stressful, take consolation in the fact that there is an unseen benefit. Being let go, in most cases, has nothing to do with your performance. It’s often the company that is having a problem and in turn, may relieve temporary or permanent personnel. Some of the common reasons for a lay off include:
- Mergers and acquisitions result in an overlap in duties or roles.
- Redundancies whereby several workers are performing the same task.
- Downsizing where a company decides to reduce employees to cut cost.
- When a company closes down or ceases operation.
Restructuring which forces a business changes the way it operates to meet current demands and find that they no longer need specific staff.
File for Unemployment Benefits
It can take a few weeks before you start enjoying unemployment compensation, so begin the process the same week you are laid off. Wait too long, and you can find that you are no longer eligible. In some states you might also not qualify for any compensation, so check right away with the state’s employment office.
Update Your Resume
If you have been working full time for the same company for many years, the chances are high that you have not updated your resume. Comprise all the necessary details, including your skills, experience, and knowledge that can help you stand out from other competitors. In cases where you feel your CV, or any other job application documents need a professional look then you can opt to get assistance from an online paper writer.
Make Use of Your Network
Never feel embarrassed about reaching out to your network as most top performers had lost their occupation, especially when companies they worked for changed priorities. Letting the people in your circle know that you are on a job hunt will ensure that when new opportunism arise, they will alert you. This increases your chances of landing your next paid position sooner than you anticipated.
Are You Entitled to Any Unemployment Benefits?
As a laid-off member, you may be entitled to several benefits such as outplacement services, severance pay and unemployment insurance. The benefit amount, eligibility, and the length of time they will cover depends on your state laws. You can consult your HR to determine what assistance you will get.
Start Preparing for Interviews
After sending your resume to several companies, the next essential step is to prepare for interviews. Most importantly, learn how to answer the question of why you were laid off from your previous job.
Enroll for a Course
While you wait to find the line of work you want, you should enroll for a short course to expand your experience and knowledge. Learning a new skill can lead you to a different role that will better suit your skills and talent or even land you a higher paying job opportunity.
Be Smart in Your Job Hunt
Just because your former employee does not need your skills does not mean you should settle for any available work. Avoid feeling desperate and take time to decide what you truly want in an organization. Be open-minded to possibilities that you may not have thought of as long as they align with your career and the next job role you want.
Finding a new source of income after a lay off can take time. So be patient, learn new skills, update your resume, and read interview questions and answers so that you can be well-prepared when another job opportunity arises.