You’ve just been laid-off from work or worse fired. Now what?
When you get the unfortunate news, there are some very important and necessary tasks that are required to be fulfilled.
First thing first, do not panic.
You will need to do a little preparation when you are being laid off from work. Just calm down, take a deep breath, get yourself together and look at your situation comprehensively and handle task one by one. This will ensure that you receive your final pay check, benefits, pension funds and more.
After thorough discussion with some of my friends who have been laid off during this pandemic, I have developed a few pointers on how to tackle being laid off from work.
Here’s what to do.
1) Do Not Burn Any Bridges
Unless you have been illegally terminated, avoid hostile confrontation with your employer.
No matter how angry or upset you feel restrain yourself to avoid further consequences.
You will be needing their reference for your future employer.
2) Manage Termination
When you’re terminated from employment, it makes a difference whether you are laid-off or fired for a cause.
If you have been downsized or laid-off for lack of work; you will be entitled to different benefits than if you were fired.
3) Your Final Pay check
Before you leave your job, check out by when you will be receiving your last pay check, and how it will be delivered to you.
Make sure to speak with your Human Resources Representative to learn what is owed to you, and how and when you will be compensated.
4) Ask For References
When you are fired or laid off, you still need to ask for a letter of recommendation.
Regardless, you should ask how the company plans to handle any inquiries about your time with the company. Ask if the company will simply share your dates of employment, or if they will tell other employers that you were fired.
5) Evaluate Your Financial Situation
Over the next couple of days, assess where you stand financially. Calculate your debt, your expenses and find out how much savings you have left. The idea is to understand and analyse how long you can survive without a job.
Now, it will be important to plan a budget and ensure you stick to it.
6) Explore Your Career Choices
Getting laid off allows you to take some time off.
Utilize this time figuring out where you want to be in the next 5-10 years.
Are you still happy with what you are doing?
Are there any other career options that are viable?
These are among the questions you should ask yourself before you jump into another job.
7) Think About Self-employment
Before you start job hunting, think about taking up self-employment in your area of expertise.
Research thoroughly before spending any money since money will be a scarce commodity.
8) Network And Apply For Other Jobs
Ensure that you have all the required documents and then start sending out feelers for different jobs.
Use the connections you may have accumulated over time to get some insider information about open positions in the organizations of your choice.
Do not forget to update your resume and other documents before you send them out.
Join self-help groups and associations that will allow you to connect with other people.
You never know, these interactions can lead to job prospects.
With the advent of pandemic, large numbers of jobs have been lost and lots of people have been laid off. In all honesty, it can happen to the best of us. Getting laid off is as depressing as it is embarrassing.
Calmly, without panicking and taking step one-by-one can make a huge difference to your mental and financial wellbeing and get on track in handling this difficult time.