What To Do When You Get Laid Off?

What to do when you get laid off

Getting laid off is a nightmare for every working professional. Losing a job can dent your self-esteem, affect your finances, and, if not handled smartly, negatively impact your future career.

 

However, it is essential to know that being laid off is different from being fired due to the reasons that lead employers to take action. Being retrenched or laid off is generally linked to business reasons such as downsizing or ceasing operations.

 

Read on to know what to do when you get laid off.

 

Figure Out The Pay Benefits

 

In some cases, a company may offer severance pay to the employees who are getting laid off because of the organisation's restructuring or a mass layoff. But in case you were fired, then it is unlikely that you are offered a severance package.

 

But to be sure, you may check the labour laws in your region to understand how long an employer has to pay you after being laid off.

 

Also, ask your HR about any pay benefits, they might offer you on exit. Even if they are not paying you an exit amount, there would be other benefits like accrued and unused annual leaves, medical cover or additional reimbursement that the company offers to its employees.

 

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Discover Alternatives

 

Getting laid off might fill you with negative emotions of despair and defeat. However, get over the sadness soon and consider the layoff as an opportunity to learn new skills, discover your passion, explore different areas or industries, and to rethink your direction.

 

The world is full of opportunities; you just need to look around carefully. And when you are no longer bound by a job, it is time to figure out what other alternate career options you can take. You may want to take up freelancing, pursue your hobby as your work, start a business, or move up a ladder in your existing profile.

 

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Work On A Solid Exit Story

 

Getting laid off also brings along the onus to answer to everybody why it happened. Our advice: be ready with a good and strong narrative. Craft a simple explanation about the layoff that you can share with your professional network, recruitment consultants and even your potential employers.

 

You should neither blame the employer for laying you off nor feel ashamed. Instead, own the story with a clear message and objective.

 

For instance, if the company had layoffs because of restructuring, say something like:

 

“When my former employer went through restructuring, they had to let go of several talented employees. Instead of being demotivated, I took it as an opportunity to reassess my career and gaps. As a result, I am currently pursuing a certification in AWS xxx.” By showcasing through your answer how you took action, rather than 'planned to do something’, you will gain the confidence of the hiring manager.

 

How to mention the reason for leaving a job.

 

Start Finding A New Job

 

Leverage your professional network by making them aware that you are on the lookout for new opportunities. Referrals always have a high success rate during job hunting.

 

Also, update your LinkedIn profile, mark yourself open to working and build your personal brand. Additionally, keep checking online job portals for any openings.

 

Lastly, rebuild your resume based on the profile or domain in which you are searching for a job.

 

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Endnote

 

You may think that getting laid off is one of the worst things that has happened, but you can turn your layoff into a blessing in disguise by gaining better clarity about your life goals and purpose. To make the most of this time, you need to evaluate your options, discover your passions, figure out what you want to try next in your career and get back out there with a solid game plan.

 

Now that you have decided to fight it, we are sure you will become stronger. All the best for the new future that awaits you!

 

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