Navigating Your Way Through a Job-Layoff — First Steps

First…DON’T PANIC.

Image Owned and Taken by Brett Shoemaker, Financial Clarity Coach

This is a trying time for everyone these days. Unemployment has soared this year. We wanted to jot down a few tips for some of you who may be affected. Let me start by saying these are tips that I live by & have used since my first lay-off in July 2019. Oftentimes, I use these regardless of my employment situation. Last week, both of our contracts were canceled and we are diligently planning our next steps…calmly.

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1. I’ll repeat it. Don’t panic. It’s easy to make big mistakes or not think clearly when you are panicking. Stay calm, remain focused.

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2. Focus your immediate attention on the needs of your family. Make sure you communicate your every step in the process. Many times, more insight from our loved ones will help guide you in the right direction.

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3. Take everything you have money-wise and store it in Savings as an Emergency Fund. Dave Ramsey says everyone should start $1,000 in his “Baby Steps”. While we believe $1,000 is a great start, the best plan should be to build at least 3–6 months of savings. Especially in times like now. Look at your situation and maximize this Fund immediately.

4. Update your resumé. If you don’t yet have one, write up a Curriculum Vitae as a compliment to your resume. (Something I always do is update my resume throughout the year regardless if I’m actively looking or not). This makes the task less daunting. Especially when it comes to dates worked for each position.

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5. LinkedIn. If you don’t have an account, get one. Find your business connections, & connect with them. LinkedIn is used significantly these days by Human Resources, recruiters, etc. This is your “social resumé” and in many situations it’s the online version of a “first impression”.

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6. Depending on your career field, look into ALL options. Can you travel? Are their remote options? Have you considered being a 1099 vs W2? Being flexible gives you a chance to ‘standout’ from other applicants.

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7. Are you in good health? While in lay-off focus strictly on your health. Look better, feel better.