What to Do When You Get Laid Off: Steps for Creating a Career Strategy
You were called into the boss’s office unexpectedly on a Tuesday morning. Not thinking anything of it, you go in with your guard down and hear something like this…
“I don’t like doing this, but I have some bad news.” your boss says with a straight face. “We have to let you go. It’s been great working with you for all these years.”
So many emotions and thoughts are running through your head and you’re not sure what to do first.
Being laid off can be a traumatic experience, especially if it’s unexpected. Luckily, you have a number of resources to help you through this difficult time.
What You’ll Learn in This Article:
· The difference between being laid off and being fired.
· Government resources for people who have been laid off.
· Steps for what you should do when you have been laid off.
Being Laid off vs. Being Fired:
· Laid off: Typically, due to company-wide issues like downsizing, restructuring, or financial difficulties; not the employee's fault.
· Fired: Usually due to the employee’s performance, misconduct, or violation of company policy.
Now that you understand the difference between the two, depending on your situation, you’ll have some resources available to you right away.
Resources Available If You Have Been Laid Off:
1. Unemployment Benefits
· State Unemployment Agencies: Each state has its own unemployment insurance program. Workers can apply for unemployment benefits through their state’s unemployment office, which provides temporary financial aid while they search for new employment.
USA.gov Unemployment Resources
2. COBRA (Consolidated Omnibus Budget Reconciliation Act)
· If workers lose their job-based health insurance, COBRA allows them to continue their health coverage for a limited time (usually 18-36 months). While more expensive, it ensures that healthcare coverage doesn’t lapse.
Department of Labor COBRA Information
· Community Organizations
· The United Way
· The Salvation Army
After you apply for these two resources, you’re ready to get into the steps on what to do after a layoff.
Steps for What to Do After You Have Been Laid Off:
Step #1: Process the Emotional Impact
It’s very easy to skip over this step. You may feel like the Titanic has hit an iceberg and there’s no time to dwell on how you feel. This couldn’t be further from the truth.
Most importantly because you are not the Titanic and are not going to sink, so it’s important to make sure your head is on straight before you move onto the next steps.
I will call myself out on this one, because when I was laid off during my career, I did not take the time to evaluate my mental health because I felt like there was no time. With two young kids I felt like I needed to push forward like an American soldier storming the beaches of Normandy. Dramatic I know, and I’ve learned my lesson. Taking a few days to talk to someone to process all the feelings is a much better choice.
How can you process your emotions after a layoff?
1. Talk to a professional: Whether it’s a mental health professional, a career coach (preferably YCS) or a life coach, talking to someone who has experience counseling people who have gone through a similar situation can help.
2. Don’t dwell on being laid off: As difficult as it may be, spending time talking with former team members, your boss or anyone else who could have been associated with you being laid off is not productive.
3. Find a mentor: Whether it’s a family member or close friend, find someone who can help you through this difficult time. Since you might not find a job right away, you’ll need someone who’s going to be a positive force in your life.
Since we here at YCS want you feeling positive during this time, here’s an article you can read on why being laid off is a good thing.
Step #2: Assess Your Financial Situation
I’ll be blunt here. This could look pretty ugly, but it’s something you’re going to have to do.
If your family was living off of your salary alone, this is going to be even more important to do, because you’re going to have to make sure the Titanic stays afloat until the Carpathia comes to save it. I apologize for all of the Titanic references, but my son is pretty into the Titanic for some reason so there you go.
It’s a long way of saying, make sure you can financially manage being out of work for an extended period of time in case your unemployment runs out and you’d like to stay living in your house and maintain your lifestyle.
Here’s how you should be evaluating your finances:
1. Make sure you have at least 6 months of savings in the bank in liquid cash. If you don’t have this, you may want to ensure you have some investments that can be withdrawn if necessary. DO NOT TAKE MONEY FROM YOUR 401K IF YOU’RE UNDER 65 AT ALL COSTS. You’ll be hit with penalties and it’s a bad idea.
2. Make a budget: Understand how much money is going in and coming out.
3. Cut excessive spending.
4. Pick up a part-time job if you can while you’re looking for work.
Step #3: Update Your Resume and LinkedIn Profile
I cannot tell you how many clients I had as a Career Coach who didn’t put any effort into this step for some reason. They just wanted a job to magically fall out of the sky for them without doing any of the work to market themselves.
One client in particular, I met at a Starbucks early one weekday morning. She told me she had been out of work and looking for a job. I asked her for an old resume so I could get an idea of what she had one. Her response? She had no resume. She’d been working at the same job for so long, she just didn’t think she needed one.
While this step is better off being done BEFORE you get laid off and when you’re happy in your job, it can be done in a few hours or a day depending on how much time you want to put into it.
How can you update your resume and LinkedIn in a hurry?
1. Use ChatGPT: As someone who works for a Career Services firm, you would think I would tell you to find a Resume Writer to do this, but if you have limited time and resources, ChatGPT is your new best friend.
a. Here’s a prompt you can use: “Please give me a prompt I can use so you can give me the best possible resume to get me hired for my desired role?
b. ChatGPT will actually give you the prompt and then you can put that prompt in and follow the steps it tells you.
c. Resume written.
2. Use your new resume for your LinkedIn Page: Use the new resume you wrote with the help of ChatGPT to fill out your LinkedIn profile.
Again, I probably shouldn’t be telling you this, but if you follow these steps, you’ll save yourself a few hundred dollars. Just remember, don’t tell anyone I told you.
Step #4: Network Strategically
Networking is hopefully something you have been doing throughout your career. If you haven’t, don’t panic, but just like a good batch of short ribs in the slow cooker, a network should be built slowly.
If you’ve ever heard the saying, it takes a village to raise a child, I’ll give you the saying it takes two villages to help you find a job.
There are a number of steps to take when building a network and trying to find a job, so I’ll give you a few here and then give you a few resources that go into more detail.
1. Make sure all of your family and friends know you’re looking for a job: These are the easiest people to network with and will probably be the most beneficial. They know you and are willing to help. The people they are friends with will also be willing to help because they’ll want to help out a friend.
2. Attend career fairs and networking events: These may sound like a waste of time (and some may be) but in today’s day and age, an in-person introduction and handshake can really go a long way.
3. LinkedIn should be your new favorite social media platform: It might sound obvious, but you’ll want to understand LinkedIn inside and out if you want to find a job. Don’t waste your time on third party job boards, focus on making valuable connections on LinkedIn because you never know which ones could change your life.
For more on LinkedIn and networking in general, read this article about 11 strategies for networking on LinkedIn.
Next Steps After Reading This Article:
Now that you’ve been given some pretty helpful information, it’s time to get that new and better job.
If you’re still feeling overwhelmed by the emotions and not sure where to start, our amazing coaches at Your Career Strategy want to give you an opportunity to have a FREE call with them to understand your struggles and see if they can help. Click on this link to visit our site and book a free call now.
Be positive, be optimistic and be strong. This may be a difficult time, and you may want to curl up in a ball and hide under the covers until it goes away, but this is your time to make a great change in your life.
We have faith in you!