...On Losing Your Job
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Word Count: 532
Summary: 5 practical activities to do as soon as your learn
that you are losing your job.
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...On Losing Your Job
Getting downsized, right-sized, laid off or "let go" can be
very difficult to handle. Here are five ideas to implement as
soon as you learn you that you are losing your job:
1. Be angry......but only for 1 day (2 at the most). It is
totally normal to feel angry or betrayed when you lose your job.
The problem with anger, however, is that it is seldom
productive. If you are spending a lot of energy being upset you
can't focus on looking for a new job or be effective in an
interview. Give yourself time to be angry, let that anger out,
then move on.
2. Get a picture of your financial situation. The loss of
income is undoubtedly the most difficult part to deal with
during an unexpected job loss. This is especially frightening if
you are the main bread winner of the family. As soon as you
learn that your job is coming to an end prepare a financial
statement. Write out all of your monthly expenses. Have separate
categories for necessities (like rent and groceries), nice to
haves (like cable), and obligations (like credit cards). Know
how much money you need every month to cover your necessities,
be prepared to eliminate some nice-to-haves and inform lenders
if you anticipate being unable to handle obligations. Being
armed with this information will help alleviate some of the
stress of the unknown. This financial picture can tell you how
long you can live off of your savings or how much you need to
bring in from a part time or temp job while you look for a new
permanent job.
3. Apply for unemployment as soon as possible. As soon as you
find out that you are losing your job, call your state's
unemployment office to understand how the program works, how
soon you can apply, and when your benefits go into effect. Some
states have a waiting period and it may take 3 - 4 weeks for
your claim to be processed.
4. Make your other talents known. Sometimes you will find a
company that is laying off employees in one department while
hiring new people in another department. This is due to a skill
gap. A company can't just take an employee from Department A and
move him into Department B if the employee doesn't have the
skills to do that other job. But, if you are someone who does
have those skills, either from a hobby, volunteer work, or
education, you might be able to make a case for a transfer. This
is a long shot, but you'll never know if you don't ask.
5. Think about what you really really really want to do next.
If you are one of the "lucky" people who get advanced warning
that your job is coming to an end (like an announcement that
your office is closing in 6 months) don't hit the panic button
and immediately go out to find another job. Instead use the time
to "find" yourself. Read, evaluate your hobbies, investigate
jobs that you think would be interesting. This way your next
career move will be deliberate and planned, not a knee-jerk
response.
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