One of the worst things that can happen from a professional perspective is losing your job. This is especially true if it is unexpected and not your fault. On the flip side, it can turn out to be for good if you know what to do when you lose your job even if it doesn’t feel remotely positive at the moment.
It is emotional and traumatic to suddenly lose one’s job or, worse, to be fired. You’re unemployed, you don’t have a paycheck, and you will lose ties with your co-workers because it will never be again even though you promise to keep in touch. It is painful.
Table of Contents Hide
- What happens when one loses his job?
- What to do when you lose your job
- #1. File for unemployment
- #2. Review your spending and funds
- # 3. Create additional sources of income
- #4. Commercialize your skills
- #5. Make use of your hobbies
- #6. Create a professional LinkedIn profile
- # 7. Find out about health insurance options
- # 8. Work on a personal budget
- #9. Register for a new job for 30 days
- #10. Google yourself
- # 11. Clean up your social media accounts
- #12. Revamp your resume.
- #13. Connect to your network
- #14. Get References
- #15. Check the Vacancies
- #16. Focus on your job search
- #17. Write targeted cover letters
- #18. Find out what you are worth
- #19. Prepare an interview outfit (or two)
- #20. Practice interviewing
- #21. Go where the jobs are
- #22. Spruce up Your Online Presence
- #23. Get a Skill or get back to school – or both
- #24. Do not be discouraged
- #25. Don’t be afraid to ask for help
- Editor’s Recommendations
What happens when one loses his job?
It’s really easy to despair when you lose your job. You will experience anger, fear, fear, worry, and resentment. This mindset is self-destructive. It will permeate all aspects of your life and undermine your confidence.
It will weaken your drive and motivation. It’s hard to do, but you have to stop the negative thoughts and get on with these tips on what to do when you lose your job.
The faster you start a job search, the faster you think about your new job instead of the lost one.
What to do when you lose your job
The truth is that some people over the years have developed a system to continue their careers once they are laid off. For many of these people, this is associated with some experience in dealing with such situations.
However, there are those who are so devastated by losing their job that it affects their personal life and career in unimaginable ways.
Here are some of the things you can do when you lose your job
#1. File for unemployment
If you lose your job through no fault of your own, you should become unemployed. Depending on the circumstances, you may still be eligible even after you’ve been released.
#2. Review your spending and funds
Your income has a direct impact on your lifestyle, and losing your job can definitely make it harder to get out of your lifestyle inflation.
Now that we know these unprecedented times will continue for a while, we can never be too late to plan. Reduce your unnecessary expenses to a minimum.
# 3. Create additional sources of income
You can make money while you sleep. This is the time to put on your thinking hats and come up with ideas that will help you make that much-needed extra cash.
We’re talking about passive money. Losing a job closes one door, but we can always look at the other doors that may look locked but are not. Since income is generated passively, you can go on with limited resources while making room for active income.
Freelance work is a much-chosen step in creating new/additional income. It’s an excellent way to make money online with minimal resources.
There are many freelance websites out there like Upwork, Fiverr, Freelancer, Toptal, PeoplePerHour, Simply Hired to name a few. Websites like Writingcreek.com are great platforms for making money writing content.
#4. Commercialize your skills
All the years you’ve been in the job, you need to have the skills you need to equip yourself.
Any skill you have will be useless if you don’t use it. You need to know how to get your expertise to market and show your customers how to help them and solve their problems. Now is the time to commercialize these skills on your terms. The skills can be:
- Hard or soft
- Technical or commercial
- Creative or objective.
Decide your target customers who can make the most of your skills. For example, if you are an MS Excel professional, create a Youtube channel and promote your expertise.
#5. Make use of your hobbies
In the rush to make money, people often put their hobbies in the background. The loss of one’s job causes emotional disturbances as well as financial losses and uncertainties about the future.
Having hobbies can be a solution to both of these problems. It brings feelings of happiness with it, balancing emotions and with the right strategy, it can fetch money to reduce your financial burden.
For example, if you play chess, you can train beginners or sell tutorials on how to make winning moves in chess. As simple as that!
LinkedIn is designed for professionals so that users can create an online profile that depicts their professional history and skills.
You can do the following;
- Find jobs and business opportunities
- Network with professionals who can recommend you to their colleagues
- Gain insights into your industry.
- Create a personal brand for yourself
LinkedIn is probably the most popular professional networking site today. An updated all-star profile and an active presence on the platform can actually shorten your search for the right vacancies.
# 7. Find out about health insurance options
Check with your supervisor or HR department about options for continuing your health insurance coverage or see how you can get a new policy that will cover you during your absence.
#8th. Think about what to do with your retirement savings.
What happens to your retirement plan depends on the type of your plan. Here is information about what happens to your retirement plan and what happens to a 401k if you quit your job.
# 8. Work on a personal budget
Your unemployment check will be less than your paycheck, so think about how you can save some money. It will also last for a much shorter time as many states have reduced the number of weeks of unemployment they provide.
#9. Register for a new job for 30 days
If finances are a problem, and this is true for many unemployed people, then you need to hurry up a little. Get the 30-day new job program online. It helps you stay motivated and keep your job search on track.
#10. Google yourself
Search Google for your name to see what potential employers will see when they review you. Make sure that everything that appears in the search results is correct.
You don’t want hiring managers or recruiters to see something you don’t want them to see.
Your social media pages will likely be on the list of the content displayed when you search for yourself. Make sure all of your posts are visible to the public.
If not, clean them up and adjust your privacy settings. On the other hand, having a solid social presence is important for many jobs, so make sure you make the best impression.
#12. Revamp your resume.
Before applying for a position, take the time to update your resume. Your resume will be read by the applicant tracking systems (ATS) employers use and hiring managers. Make sure you list your key skills and match your qualifications with the job. This gives you the best chance of being selected for an interview.
#13. Connect to your network
This is a good time to get connected to your network. Use LinkedIn, your college alumni network, and your professional and personal networks to support your job search. Ask your contacts to let you know when they come across jobs that are a good fit for you.
#14. Get References
As you connect to your network, consider who would be a good reference. This is especially important if you’ve been fired. Now, set up a few references so they can expect a call when you start the interview. Here you can find out who and how you can request a job reference.
#15. Check the Vacancies
Now that you have many pieces of the job search puzzle in place, you can check out the vacancies and apply for jobs. Use job search engines like Indeed.com to find job postings from many different online sources in just a few clicks.
#16. Focus on your job search
Use the advanced search options to focus on jobs that match your interests and skills, and in one place you want to work. Don’t waste time applying for jobs that don’t suit you. This is a competitive job market and if you are not qualified you will not be considered.
#17. Write targeted cover letters
Don’t skimp on your applications. Your cover letters must convincingly explain why you should be hired. Use your cover letter to show the reader at a glance why you are the most qualified person for the position.
#18. Find out what you are worth
In the interview, you will most likely be asked about your salary. Your salary history is important, as are your salary expectations. Do you have a minimum amount you need? What should you be earning?
Use salary reports like those offered by PayScale.com so you don’t fall short when an employer is looking for cheap employees. Be ready to negotiate the salary so you can make sure what you agree to is fair.
#19. Prepare an interview outfit (or two)
Expect to have at least a couple of interviews for each position you apply for. Some can be on the phone or on video. Others will be there. So be prepared to dress appropriately for the job and company you’re applying for.
#20. Practice interviewing
The best way to prepare for an interview is to practice, practice one more time, and then practice more. Check out the most common interview questions employers ask so you are ready to answer them.
Read up tips on how to rehearse at home and how to prepare for an interview so you can make the best impression. Prepare for a virtual interview – many employers are outsourcing the hiring process online. Also, be prepared to answer questions during the interview about why you left your job.
#21. Go where the jobs are
Some people move to another city, state, or country to find a job in their area. However, if you are looking for a remote job, your location might not be a major factor.
However, it does help target your search towards the areas and jobs that are most compatible with remote work. Do a little research on who is hiring frequently in your area to speed up your search.
#22. Spruce up Your Online Presence
Studies have shown that the majority of hiring managers look at someone’s online presence before even contacting them for an interview. What do your social media profiles look like? Are you a mishmash of (public) family photos and some political positions?
One of the most important aspects of your job search is making sure that your online presence is up to date and professional.
Take the time to clean up your profiles or create new ones that show you off in a professional light and keep them updated so potential bosses can see that you’re active on social media.
#23. Get a Skill or get back to school – or both
If you find that you are not fully qualified for the jobs you applied for, it may be a reason you can’t find a job. Employers often do not hire anyone who does not have the majority of the skills, education, or work experience required for the position.
If you need to improve your skills to better serve business needs, consider going back to school or finding resources online to acquire the skills you need.
#24. Do not be discouraged
You probably won’t hear more from more employers than you expected. Unfortunately, many companies don’t bother to notify applicants who have not been selected. The interview can take a lot longer than you expected.
You may be asked for an interview three or four times, or even more before a hiring decision is made. Expect this to take a while and try not to feel down if you are not hired right away.
You are not – the employer is looking for the right candidate. It’s better, even if it doesn’t feel like it, not to be hired than to have a job that isn’t working.
#25. Don’t be afraid to ask for help
Finally, and most importantly, don’t be afraid to ask for help. Friends and family will be happy to help, but they can’t if they don’t know you need help.
Whether you need a loan, a lift, a babysitter, someone to proofread your application, or an outfit to borrow for an interview, don’t hesitate to ask.
While unemployment rates are still high, there are many things you can do to improve and move forward if you lose your job. While new skills to help you with your job may seem out of your reach, there are plenty of free ways to advance online and offline.
Being unemployed can give you extra time to improve and possibly become more skilled to find work.
- 5 Things You Have to Do When You Lose Your Job | The Muse
- What to Do When You Lose Your Job | Career Tool Belt
- 6 Things You Must Do If You Get Sacked or Lose Your Job|jobberman.com
- Here’s What You Must Do Now If You’ve Lost Your Job|forbes.com
- 10 Things You Should Do If You’re Unemployed – Lifehack