Written by Pat Brown, MBA
Losing your job can be an overwhelming experience, but taking the right steps immediately after a layoff can help you regain control of your situation. While it’s normal to feel a range of emotions—from shock and frustration to uncertainty—having a plan will put you on the path to stability and success. Here’s what you should do right away after being laid off.
1. Stay Calm and Process Your Emotions
A layoff is rarely personal; it’s often a business decision driven by financial constraints, restructuring, or market conditions. Give yourself time to process the news, but don’t let emotions dictate your next steps. If needed, talk to a trusted friend, family member, or mentor for support.
2. Review Your Severance Package
If your employer offers a severance package, take the time to review it carefully. Some key factors to consider:
- Severance Pay: Understand how much you will receive and over what period.
- Health Insurance: Ask about COBRA or other coverage options.
- Non-Compete or Restrictive Clauses: Ensure you understand any limitations on working for competitors.
If the offer seems unfair or unclear, consult an employment attorney or financial advisor before signing anything.
3. File for Unemployment Benefits
Unemployment benefits can provide temporary financial relief while you search for your next opportunity. The application process varies by state, so apply as soon as possible to avoid delays in receiving benefits. Be honest about your situation and keep track of any job search requirements.
4. Assess Your Finances
Now is the time to take a hard look at your finances and create a plan to make your money last:
- Review Your Budget: Cut unnecessary expenses and focus on essentials.
- Pause Unnecessary Subscriptions: Streaming services, gym memberships, and dining out should be evaluated.
- Negotiate Bills: Contact service providers to discuss lower payment options or temporary relief programs.
If you have an emergency fund, use it strategically while planning for income replacement.
5. Update Your Resume and LinkedIn Profile
Your next job opportunity may come sooner than expected, so update your resume and LinkedIn profile immediately. Highlight key achievements, relevant skills, and past experiences. Don’t forget to add a professional headshot and write a compelling summary about your expertise.
6. Start Networking Immediately
Many jobs are filled through connections rather than job postings. Reach out to former colleagues, mentors, and industry contacts to let them know you’re in the job market. Attend networking events, join professional groups, and engage with potential employers on LinkedIn.
7. Explore Temporary or Freelance Work
If you need immediate income, consider freelance or contract work. Websites like Upwork, Fiverr, and Freelancer offer short-term projects that can keep you financially stable while you search for full-time opportunities. Gig economy jobs such as ridesharing, food delivery, or online tutoring can also provide a steady stream of income.
8. Take Care of Your Mental and Physical Health
A layoff can take a toll on your well-being, so prioritize self-care:
- Maintain a regular schedule and daily routine.
- Exercise regularly to reduce stress and stay active.
- Stay connected with supportive family and friends.
Consider using this time for personal growth, such as learning new skills or enrolling in an online course to enhance your career prospects.
9. Set Career Goals and Create a Job Search Plan
Treat your job search like a full-time job. Set daily goals for sending applications, networking, and learning new skills. Keep a spreadsheet to track the jobs you’ve applied to and follow up with recruiters and hiring managers.
10. Stay Positive and Keep Moving Forward
A layoff is a temporary setback, not the end of your career. Many people use this time as an opportunity to pivot into better jobs, new industries, or even start their own businesses. Stay positive, remain proactive, and keep pushing forward—your next opportunity is out there.
Final Thoughts
Losing a job is tough, but taking control of the situation will help you navigate this transition successfully. By focusing on financial stability, job searching, networking, and self-care, you’ll put yourself in the best position to bounce back stronger than ever.
For more resources, job search tips, and financial guidance, keep visiting www.laidofffromwork.com.
