Updated February 13th, 2024 at 20:24 IST
Worried You Might Be Laid Off Or Lose Your Job? Here's What To Do
If you think you may lose job or might be laid off by the employer, here’s a ‘to-do’ list and how to fare through devastating situation.
- World News
- 5 min read
Workers in the giant technology and media firms including TikTok, Google, eBay and Amazon are witnessing mass layoffs in 2024, rendering them confused about the job security in the market and looming questions about how to cope.
The career advisers often recommend that those struggling financially must have handy a ‘Plan B’ and focus on bouncing back stronger in such dire circumstances. While losing a job, or nor being able to find one is a devastating experience, it is integral to know that there are many reasons behind the turbulent job market and recession, and largely, it’s never your fault. Researchers tell those laid off or those abruptly losing jobs overnight about what to do next in order to secure a better opportunity, security, and feel happier in your career as well as life while you try to land your dream job.
Some of the tips here can help you manage distress stemming from being unemployed, as well as maintaining a healthy life amid the job loss. While losing a job is a stressful experience, the Pew Research’s surveys shows that most people have had a shift in perspective and ended up preparing for future that not only inculcates an interesting job that pays but also provides stability and economic certainty.
If you’re one of those people who fear that they may lose their job or might be laid off by their employer, here’s a ‘to-do’ list while you’re employed for faring better in such a situation.
Emergency fund to understanding your severance package
Saving or an emergency fund can minimise stress and financial instability a great deal. While in the job, it is significant to save enough to be able to cover the funds and expenditures for the whole time that you would be out of work. Whilst you feel secure at your job, it is time to set aside an emergency fund. Start thinking about saving, Jesse Mecham, founder of the money management app YNAB, tells Associated Press. While we tend to plan trips and are more inspired to save funds for the same, it may be wise to have money in case one is out of work. This is particularly hindered incase one has debts, bu the four must be on saving extra cash.
Update resume-keep it up to date
It would be good idea to keep one’s resume up to date and customisable to be able to apply to several jobs, Scott Dobroski, career trends expert for Indeed told Associated Press. It is important to keep up to date the information as well as focus on other key points such as including keywords that are specific to the job one is applying for. “It could make things easier when you need to move on,” he says. It is also advisable to keep updated one’s LinkedIn page and let the hirers know that one is open for work.
Connections, do not lose on it
Activate your network of connections, coach Marlo Lyons tells Associated Press. It could be as simple as conversing with friends about possible job openings, and what you are willing to do. Connections are integral to give one a head start to a job.
Honing your skillset: Be a learner, and open to new challenges
While it is integral to be open to learning new things and taking up new challenges, adding more certifications or courses to your resume is also a good idea. “If you think you might have to go somewhere else, look for the skills that will make you a stronger candidate,” Lyons tells AP. Further he recommends free online course or “signing up to get a specific license, adding to the skills listed on your resume will have benefits whether you stay in your current job or have to look for another one.” Coursera and edX are some options to achieve this goal.
Laid off? Work on mental wellbeing: Be positive
One of the most important aspects of being successful is prioritizing your mental health. This will allow you to approach your job search in a better way, says expert Dobroski in a talk with Associated Press. Enter into a new role with a positive mind, and doing away with dwelling on the past and how much you loved your job must be a chapter done. It is also important not to linger on negative feelings or complain.
A routine is important
Expert macham tells Associated Press, that keeping structure in your day “will help you with your mental health and with the right cadence of applying to jobs.” To keep self grounded, one must eat at usual time, work out or go for a walk, and apply for jobs for a certain number of hours, managing time well. “Do not over-exhaust yourself with applying to jobs,” Lyons said. “Take time to do activities that make you feel good.”
Consider a temporary job?
While searching for options, it may not be a bad idea to have a temporary job that pays the bills. “You can’t afford to be out of work,” Dobroski says, and so a temporary job may not so bad. “It shows that you have grit, that you’re willing to work hard and take care of your responsibilities,” she said.
Published February 13th, 2024 at 20:21 IST