Consumer Tips, Tricks & Articles

Laid Off? What Now?

Just last month, the nation suffered one of the biggest job loss statistics on record since 1974. As families are already struggling to deal with living paycheck to paycheck, losing an income can certainly be devastating. As the holidays approach, desperation is in the air and many have much more on their plates to worry about beyond gifts and family dinners. They are worried about surviving and moving beyond a job loss.

So what do you do if you find a pink slip with your next paycheck? The first thing is to not give up. You are certainly not alone. There were a half million people let go from their jobs in November 2008. Instead of wallowing in worry, take these steps to keep your head up and your eyes open for opportunity.

Go With Your Instincts

Even if the ax has not fallen just yet, it might be a good bet your inner voice is feeling the changes that are coming. If you have a heads up on the situation at the company you are working for, start getting prepared right away but don't burn any bridges before you get the boot. You may have to rely on the references of your current employer to find your next job. You can also step to the plate for your own company and bring new ideas to the table to help the company get back into the black. Your initiative may be just the thing to help you avoid the pink slip. If nothing can salvage your job, just remember to maintain your dignity and leave with grace.

Make Your Personal Finances Your Priority

If you have been laid off and qualify to collect unemployment, you need to get your finances in order and re-work the numbers to reflect your new income amount. Cut out what you can to make the numbers conducive to what you are getting now until you find other employment. If you have been fortunate to get an additional severance package benefits, you need to make definitive plans for that money to ensure it will last throughout your lay off period.

Make Plans for Healthcare

If you lose your healthcare benefits immediately, check with your local health department and see if there are any plans you qualify for if you are in needs of prolonged care or medications. You can never be sure when you will get benefits, even with a new job as many will have waiting or probationary periods before you can qualify to be on a benefits plan.

Keep An Open Mind

As you prepare your current resume and start looking for work, it is wise to keep an open mind. You may not find immediate work in a full-time capacity in the industry of your choice but it's likely you can find something part time or even a full-time gig that is not your first pick of jobs. Do not be afraid to investigate new opportunities for which you are qualified but may not be in the industry you have the most experience. You might be surprised to learn you are happy with the change and fare better in a new environment.

Open Your Mouth

Being laid off is not something you should necessarily keep to yourself. Start spreading the word as soon as you know you are looking for a new job. Chances are referrals from family, friends, and colleagues may get you in the interview door faster than your resume would. Use internet resources or professional agencies that do not charge you for placement services. Take advantage of government programs that have been devised to assist people in your situation.

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