Losing your job can be a traumatic experience but know that you will get through this. The most important thing is not to take this personally. Of course, many of us self-identify by our careers, but one job does not define our career just as it doesn’t define us. Keep a level head, make a plan, and work this problem just like you would any other hurdle. Get yourself organized, assess your situation, make a plan, and execute. Everyone’s situation is unique however these steps broadly apply to anyone who has recently lost a job.

Utilize Your Former Employer’s Resources

Even though you’ve been let go you may have access to resources from your former employer. During your exit interview make sure you ask about the following potential benefits and resources. You may have access to resources that can help you bridge the gap as you look for a new job.

401K
Pension
Stock Options
Severance Pay
Job Placement Benefits
Unused Vacation Time
COBRA Benefits

Apply for Unemployment Benefits

Filing for unemployment benefits may feel uncomfortable but it is important to do right away. Make certain to file for benefits immediately if you are eligible. This insurance was paid by your employer on your behalf and you are entitled to get the assistance.

Get Your Resume In Order

Often we don’t look at our resume until we need it. You need it now and there’s no better time to dust it off and update it. Also take the time to make sure your LinkedIn account is up to date and accurate.

Review Your Finances

The first step is to make a realistic budget of your monthly expenditures. You need to know precisely how much money you need. After that take a look at your assets and liquidity. How much cash do you have on hand and how long will that last? It’s also important to know that if your layoff was due to Covid you may be able to tap into your retirement accounts without paying a penalty. Lastly, negotiate with lenders. It’s possible you can defer payments or pay interest only for a period of time while you get back on your feet.

Education

Perhaps you’ve been thinking of making a career change. If so you may want to consider using this as an opportunity to do just that. It could be the perfect time to consider going back to school or enrolling in a training program that fits your career goals.

Danielle Foppe is a Recruitment Manager at Business Centric Technology. If you are interested in learning more about how to get the best IT talent in the Dallas metroplex, contact Danielle specializes in recruiting IT talent in Dallas, Ft. Worth and North Texas. If you are looking for a rewarding career contact us today.