Career GuidanceCareer Tips

Steps to Take After Layoffs or Being Let Go

This is every employee’s worst nightmare. Your employer calls you into their office after you get ready, get breakfast, and arrive at work looking professional and prepared for the day. Then the news that layoffs are looming hits you. Your name is on a letter of termination, which is present. Even if you expected it, losing your job, and layoffs especially will shock you. However, it does happen, and if you want to recover quickly, you must be resilient. 

Unexpected layoffs may or may not be disturbing depending on your circumstances. It should come as no surprise that the coronavirus outbreak has led to historically large-scale layoffs and furloughs. Follow the tips mentioned in this article to recover and land your new job. 

Related Article: Preparing For a Layoff – Steps To Take

What it means to be “Let Go” or “Laid Off”?

When you lose your employment, you are no longer accountable for your job responsibilities for the organization you were in. If you have to leave during layoffs, your employment stops right away. Some individuals and organizations refer to an employee’s termination as being “let go” from their employment at a company. In reality, it refers to when someone is laid off.

When you lose your job, it’s critical to plan how you’ll deal with the situation by handling your finances and eventually getting back to work. The process of recovering from a sudden layoff is tough on individuals. But there are numerous tools available to assist you get control of your situation. Even though layoffs can feel solitary, there are many things that can help.

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Why Are Layoffs Happening?

In 2022, more than 1,35,000 IT professionals lost their employment, increasing concerns about an impending recession and general economic instability. Additionally, the tech industry has seen the majority of the recent layoffs. However, it’s crucial for the majority of job seekers to understand that the tech industry is not necessarily indicative of the rest of the labor market. According to Government data, layoffs across the labor market are low. This is in comparison to levels prior to the pandemic. In addition, there are still plenty of job openings, so there’s a high likelihood that many of these laid-off employees will find new jobs quite quickly. 

Related Article: How to Deal With Losing Job or Unemployment – Steps to Take

Step to Take After Being Let Go From Work During Layoffs

Layoffs and furloughs can make you feel as though you have no control over your position. There are various actions you can take during layoffs. Position yourself for success by seeking a new career. The stress of an unexpected career transition is difficult to handle, but being proactive early on and taking measures to preserve your financial and emotional health will help you get through it. 

This section will outline some crucial actions you should take immediately following a layoff in order to adjust to change, land a new job, and ultimately advance your career by overcoming obstacles.

1. Verify the nature of the layoff
You can keep informed and make plans if you are completely aware of your employment situation. Find out if you are completely let go or are in furlough till the economy improves. Inquire openly about the prospect of coming back to work after a break. This way you can decide whether to look for a long-term position or a temporary position. Find out if you will receive benefits like health insurance, in case of a furlough. As well as how long those benefits will last after your last working day.

2. Inquire about a severance package 
Ask your employer about a potential severance package as soon as you learn that you’re being let go. Even while it’s likely that you won’t be eligible for one if you’re fired, many firms do offer severance during layoffs, especially if you ask. Getting a severance pay can help you feel more at ease about not getting a regular paycheck and how it might affect your financial status, allowing you to concentrate more on the search for a new position.

3. Look for a mentor 
After layoffs, it’s critical to keep in mind that, in addition to those who have experienced layoffs in previous times of economic crisis, a large number of other people are in a similar situation to you. Contact any seasoned employees from your previous employer who you respect, or ask for advice in a post on a business-related social networking platform. It also gives you a place to vent and seek emotional support.

4. Think about switching industries 
In the wake of a layoff, you can think about looking for durable positions in a sector where demand is still high, even in terrible times. Search job boards for the positions that are most in demand and contrast those listings with your existing skill set. You should use your current abilities in a different industry. Even if that is temporarily.

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5. Think of your job hunt as a job
Set aside time each day for job search activities after you are certain of the jobs you wish to pursue. You may keep yourself motivated to submit more applications by approaching your job search as though it were your full-time job. By setting up a regular plan for various tasks like updating your resume, searching for job openings, and following up on prior applications, you can gain momentum. Setting a daily application goal and rewarding yourself in small but significant ways when you reach it can also be beneficial.

Related Article: How To Bounce Back After a Layoff

Additional Tips

  • Adjust your perspective 
  • Practice self-assurance
  • Maintain your composure 
  • Think before you speak 
  • Express gratitude to your former employer for any opportunities 
  • Be honest in your exit interview
  • Plan what information you’ll share with others about your employment status
  • Don’t criticize your former company or coworkers 
  • Update your CV/Resume
  • Recheck your social media and job board profiles
  • Identify your next job search criteria
  • Reach out and widen your network 
  • Request for referrals 
  • Interact with hiring managers

Related Article:
How To Write a Resignation Letter – Tips & Samples
Writing a Cover Letter Post Layoff – Tips & Samples

Conclusion

There are many different reasons why firms let employees go. But workers will leave if they fail to meet targets or break corporate policies. Contrarily, layoffs are typically unrelated to productivity or performance. There are many different reasons why layoffs might occur in any business. When your work with a company ends, you might take some time to consider the career path you wish to take. You may have the opportunity to learn how to sell your qualifications to prospective employers during the interim between your previous position and your new one. Overcoming the difficulty of layoffs can aid in professional advancement and help you land a new, enjoyable job.

Related Article: What it’s Like to Be the One Doing Layoffs?

FAQs

1. What are some questions to ask the HR during layoffs?
When caught in layoffs, ask your HR these questions 

  • When is my last day? 
  • When will I get my last check? 
  • Can my unused vacation time be reimbursed? 
  • Will I receive severance pay? 
  • What happens to my commissions or bonuses? 
  • How long will healthcare cover me?

2. What happens when staff gets caught in layoffs? 
Employees caught in layoffs forfeit all earnings and benefits from the employer but are still eligible for unemployment insurance or compensation. Employees in layoffs frequently keep their investment in the corporate retirement plans and can be eligible for severance compensation.

3. Do you mention your layoff to interviewers? 
The secret to discussing a layoff is to not be afraid of it. First of all, it’s nothing to be ashamed of, and it’s a fantastic chance to demonstrate to a future employer how you deal with challenges. Go in there, talk boldly about your work history, and demonstrate your adaptability to any circumstance.

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