Layoffs are becoming a rather common phenomenon in the recent times, be it in big companies or small. It may happen to any employee, irrespective of their performance.
Being prepared from before would certainly be helpful in this unfortunate situation. But the question remains;
What to do to face a layoff better?
1. Know the benefits that you will be entitled to
The first and foremost thing to do, when you think you’ll be laid off, is to be aware of all the benefits you’re entitled to when you’re asked to leave. It is very important that you be completely knowledgeable about your employee rights, including severance pay, which may give you a clearer picture of where you stand. Also, keep yourself updated with the knowledge about employee insurance that you may get from the company. If you find something which is unclear, then make sure you get it clarified with the management ASAP.
2. Prepare yourself financially
When a person isn’t financially secure, a layoff can be a major blow. This is where many people tend to go into depression. It is always advisable to have savings. Plan your expenses wisely. See if there’re any unnecessary expenditures that you can cut back. Avoid buying expensive things until you’re more secure financially, and can afford to splurge a bit. Also, try to find yourself a part time job that will take care of few important and necessary expenses.
3. Keep your Resume updated
Instead of updating your resume after you have been laid off, it’s always better to maintain an updated one, with all your up-to-date achievements and skills clearly listed. If you’re planning to update it when you get laid off, chances are you won’t be able to make the best resume as you would already be in a state of panic and shock.
4. Keep your friends network engaged
If you haven’t been in touch with your old friends. chances are it’s because you’re happy with your current job and that it always keeps you busy. It’s quite common for people to lose touch with their old friends and colleagues from their previous workplace when they get busy with work.
When we’re all set to get into the midst of a job hunt again, we wish to contact a few of them. But we’re hesitant to do it as it would be awkward to suddenly get in touch for what may appear to be a very selfish motive. So, it’s always advisable to stay in touch with people no matter how busy you may be. They’re going to be a lot of help.
5. Keep learning new skills
A mistake that most people make, when they land their dream job, is that they stop learning new things. They feel that now that they have all that they wanted, what’s the point of learning?
But it’s important to remember that a person is only cementing their own job security by acquiring new skills and technologies. Once you are out of the race, it’s quite difficult to get back on track again. The situation is even worse when you have been laid off and lacking the required skills that would make one employable. So stay on top of the latest market trends and required skills. Keep upskilling yourself to make sure that you’re never rendered archaic professionally.
6. Take this as a learning and keep yourself busy
Losing a job is a major lesson. The time, when you’re unemployed and still looking for a job that you want, is a period where you grow tremendously as an individual, but only if you stay positive and self-confident.
Staying at home and dreading what’s going to happen next will not help. Enrol in that course that you’ve had an eye on for a very long time. Start taking care of your health, get involved with some charity and see how you can stay positive. This will not only keep you busy, but will also help you improve your skills that will fetch you a job in future.
7. Love your job, not your company
Lastly, always love what you’re doing. When you love the company more than the job, you tend to get emotionally attached to the company, and when things like layoffs happen, it becomes very difficult to accept it, and you may find yourself broken.
On the other hand, when you love your job more then the company, you tend to see a layoff in a completely different light. You will still be in love with the job, but just the company would change, which wouldn’t have much of an effect on you.
In today’s job market scenario, instead of thinking of layoff as a punishment or blaming yourself for what has happened, use it as a constructive opportunity and make sure that you take it as a learning. Then, not even a layoff can stop you from making it big.
This article is a part of the #Fired2FiredUp Campaign by YourDOST. Visit the campaign for real life stories, learnings and tips from career psychologists and recruiters.
Have you experienced a layoff recently? Are you finding it difficult to cope with it? Talk to an Expert at YourDOST.