How to Survive A Layoff And Thrive In Your Next Chapter

The economic upheaval caused by inflation, supply-chain issues, and the COVID-19 pandemic has been unprecedented, leading to thousands of layoffs across the U.S. from companies like Twitter, Google, and Amazon. While this can be a difficult and stressful experience, it’s also an opportunity to learn and grow. With the right strategies and mindset, you can turn a layoff into a chance to succeed in the future.

Here are some tips to help you survive a layoff:

Stay Positive

Losing your job can be a traumatic event and a difficult time – but it doesn’t have to define you. It’s natural to feel overwhelmed and have many thoughts swirling around your head about the situation. Even though it may feel like the end of the world right now, remember that this is only a moment in your working career. It has happened before, and there are thousands of stories of layoff survivors who have bounced back and rejoined the workforce. It’s important to stay positive and think of this experience as a new chapter in your career, an opportunity to pursue growth and start fresh.

HR and Negotiating Your Severance Pay

Negotiating your severance can be an intimidating task, but it is important to ensure you get the best possible outcome. While it may feel uncomfortable, you should take the time to carefully evaluate your situation and make sure you are being compensated fairly. Negotiations with your employer should include things such as receiving your package in multiple payouts instead of a lump sum. You may even want to explore a portion of it being paid in company stock options or to purchase extended healthcare benefits. Don’t be afraid to also inquire about job placement in other areas of the company. Additionally, consider any other aspects of the package that could benefit you such as options for extended access to continuing education websites or additional vacation pay. Make sure to research similar packages in order to have a better understanding of what is fair and reasonable for someone in your position.

Before You Leave The Workplace

As you approach the end of your current job, I understand that the last thing you want to do is work. However, taking the time to finish your tasks and projects with excellence could leave a lasting impression and set you up for success in your next role.

Here are a few more things to add to your to-do list besides updating your LinkedIn profile, Indeed and ZipRecruiter accounts:

Copy the job description of your current position and add it to your resume
Make a list of accomplishments and add them to your resume
Request letters of recommendation from supervisors or a few remaining employees
Complete all unfinished or marketable online university courses, download their certificates and add the skills to your resume
Schedule medical, dental and vision appointments for you and your family
Contact human resources to inquire about outplacement services that help with resume writing and applying for new jobs

Create a Plan

As soon as you learn that you’re getting laid off, it’s essential to create a solid plan. Staying positive and avoiding burnout is essential in this tough situation, and one of the best ways to do this is by planning out your day and breaking it into three main categories: Personal, Financial and Career.

For each of the three categories, set aside adequate time to perform the following tasks:

• PERSONAL: Take some time for yourself to relax and recharge. Stay connected with your supportive family and friends. Drink lots of water, exercise more, practice yoga or mediation and invest in activities and hobbies that restore your mental wellbeing.

• FINANCIAL: Develop a budget and review your savings. Try not to pull money from your retirement account(s). Get informed about any financial aid or unemployment you may be eligible for. Contact your creditors and explore entrepreneurial or freelance opportunities.

• CAREER: What are the ideal characteristics of your next career opportunity? Do you want to work for a large, established company or a smaller, more specialized one? Are you looking for an on-site or remote position? Defining the elements of your dream job will help you tailor your resume and focus your job search, ensuring you are only applying to positions that are a good fit.

Become Your Own Boss

Today’s economy is full of opportunities for you to become your own boss and make extra money. From driving for Uber or Lyft, to putting the same product or services that you offer to your employer on a gig platform, there are more ways than ever to take control of your financial future. No matter what industry you have experience in, you can use your skills and talents to start your own business and bring in some extra cash. With a little bit of creativity and hard work, your dream of becoming a successful entrepreneur can become a reality.

Staying Ready Is The Secret To Surviving Layoffs

Job security is never guaranteed. The best way to prepare for a layoff or a round of layoffs is to be proactive. Take steps to gain as much information as possible about your company’s layoff policies and procedures. Familiarize yourself with your rights as an employee and make sure you are aware of any federal and state laws that protect your job and benefits.

It’s also helpful to always have an updated your resume and continue networking with people in the industry. Sign up with job search websites and attend career fairs and seminars. Consider taking courses to increase your skill level to increase hiring potential. Finally, make sure you have an emergency fund for situations like this in the future.