Imagine this scenario: one day, you receive a message from management telling you your services are no longer needed. The unthinkable has happened, and you’ve become the unfortunate victim of a layoff or downsizing at the company. Maybe the economic downturn is to blame. Perhaps the company was bought out or cost-cutting measures ended up creating redundancies.
Regardless of the reasons for the layoff, it can have a detrimental, often severe effect on your mental health, not to mention disrupting your income and putting you in a precarious position. But the best thing to do in this type of situation is to avoid despair and immediately take action to find new employment as quickly as possible. Here are five things you can do if you become the victim of an unexpected layoff.
Do A Financial Assessment
The first thing to do once you receive the news is to start planning and don’t panic. Before doing anything else, try to conduct a financial assessment. Figure out what you’re spending on the essentials—your grocery bill, utilities, travel expenses, and so on.
Then do a full assessment of what sort of luxuries you’re paying for that you might be able to drop temporarily. Do you really need all five of those streaming services? That meal kit box? How about the car you’re driving? Does it have good gas mileage, or would it be more affordable/easier to start taking public transportation or downgrading your car to something more economical? These are all heavy things that can weigh on your mind when facing financial uncertainty.
So, taking a moment to assess your needs, where you’re sitting fiscally, and eventually making decisions about where to cut (be it temporarily or permanently) is critical to staying on your feet and strengthening your resolve after being laid off. Evaluating where your money goes, your housing and your future goals will go a long way to giving you peace of mind as you search for a new job or career.
Unemployment
On the heels of assessing your finances, you’ll want to look into filing for unemployment. Currently, Australia has some similarities to American unemployment in that those utilizing unemployment benefits must be actively seeking work. Australia's unemployment services also try to help candidates find a new job, learn new skills, and get back into the workforce.
There are other types of social services available to residents as well, including mortgage assistance and some other types of payments for those who might need them. Remember, however, that unemployment is just a stepping stone to a new career and should only be utilized as a temporary service if possible.
Job Boards
Job boards offer an easily accessible means of finding new work quickly. They're essentially just an online service where employers post, advertise and accept applications for various jobs or positions that are available within their company. There are plenty of online job boards such as Indeed, SnagAJob, LinkedIn, Glassdoor, and even Upwork.
Social media can also help provide leads for companies seeking help. Job boards can be an invaluable resource whenever you are seeking a new job.
Resume and Branding
The importance of a high-quality resume and working on your professional branding cannot be overstated. Branding in the 21st century is critical to selling yourself as an invaluable asset to your new organization. Branding yourself in a consistent and professional manner lets employers know that you are trustworthy and have clear-cut goals that may be an asset to their company.
Resumes are kind of a double-edged sword. You want to avoid having an extremely long resume that doesn't highlight the skills that will help you get the job you're seeking. It should be goal-oriented, short, concise, and be accurate. There are plenty of resources online that will help you write a winning resume so be sure to do your homework as you continue your job search.
Outplacement
Outplacement, under most circumstances, should be included as part of your severance package from your former employer. Outplacement focuses heavily on reacquainting candidates with the modern business world, adapting to changes, and getting back into the swing of things fast.
The best outplacement services utilize a blend of online resources, technology, Artificial intelligence, online work managements systems, career coaching, and specialized hands-on services that put candidates on a clear path to success Technology oriented outplacement services also help you polish a resume, tailor your cover letters to specific fields, and adapt to new ways of working (such as remote work). The job coaching can be accomplished remotely, meaning candidates don’t even need to leave the house to take advantage of this invaluable service.
