I’ve Been Laid Off, Now What Do I Do? 10 Steps to Prepare for Your Next Opportunity

TL;DR

Being laid off can feel like the ground has been pulled out from under you. It’s a challenging and often emotional experience that can leave you feeling lost, frustrated, and uncertain about your future. However, it’s crucial to remember that a layoff is not the end of your career journey—it’s an opportunity for a new beginning.

As someone who has coached numerous professionals through career transitions, I can assure you that with the right mindset and strategy, you can turn this setback into a stepping stone for future success. In this post, we’ll explore ten actionable steps you can take to prepare for your next opportunity. These steps will help you navigate the emotional turmoil, reassess your career goals, and position yourself for a strong comeback in the job market. Remember, many successful leaders have faced setbacks in their careers, including layoffs. What sets them apart is how they respond to these challenges. So, let’s dive in and discover how you can transform this difficult situation into a launchpad for your next career move.

Step 1: Allow Yourself to Process the Emotions

The first and most crucial step in your journey forward is to acknowledge and process your emotions. Losing a job can trigger a range of feelings—shock, anger, fear, sadness, or even relief. It’s important to give yourself permission to experience these emotions without judgment.

Here’s how to approach this step:

1. Practice self-compassion: Remind yourself that it’s okay to feel upset. This situation would be challenging for anyone.
2. Engage in self-care: Focus on activities that help you relax and recharge. This could be exercise, meditation, spending time in nature, or pursuing a hobby.
3. Seek support: Reach out to friends, family, or a professional counselor. Talking about your feelings can be incredibly therapeutic.
4. Journal: Writing down your thoughts and feelings can help you process them more effectively.
5. Set a time limit: While it’s important to acknowledge your emotions, don’t let them consume you indefinitely. Set a reasonable timeframe—perhaps a week or two—to work through the initial shock before shifting your focus to action.

Remember, how you feel now is temporary. By allowing yourself to process these emotions, you’re laying the groundwork for a more positive and productive path forward.

Step 2: Assess Your Financial Situation

Once you’ve given yourself some time to process the emotional impact, it’s time to take a pragmatic look at your financial situation. This step is crucial as it will inform many of your decisions moving forward.

Here’s what you need to do:

1. Review your severance package: Understand what benefits you’re entitled to, including any continuation of health insurance, outplacement services, or severance pay.
2. Apply for unemployment benefits: Even if you received a severance package, you may still be eligible for unemployment. Don’t delay in applying, as there can be waiting periods.
3. Create a budget: List all your essential expenses and identify areas where you can cut back. This will give you a clear picture of how long you can sustain yourself without a regular paycheck.
4. Explore your savings and emergency funds: Determine how much you have set aside and how long it can support you.
5. Consider your debt obligations: Contact creditors to explain your situation. Many have programs to help during periods of unemployment.
6. Review your retirement accounts: Understand the rules about accessing these funds in case of emergency, but remember that tapping into retirement savings should be a last resort.

By getting a clear picture of your financial situation, you can determine how urgently you need to find new employment and what kind of opportunities you can afford to pursue.

Step 3: Reflect on Your Career Path

A layoff, while challenging, presents a unique opportunity to step back and reassess your career trajectory. Now is the time to ask yourself some important questions:

1. Were you satisfied with your previous role and industry?
2. What aspects of your work did you find most fulfilling?
3. What skills and experiences have you gained?
4. Are there new areas or industries you’ve been curious about exploring?
5. What are your long-term career goals, and how do they align with your recent experience?

Take the time to do a thorough self-assessment. Consider using tools like:

• SWOT analysis (Strengths, Weaknesses, Opportunities, Threats)
• Career aptitude tests
• Values assessment exercises

This reflection period is crucial. It can help you determine whether you want to continue on your current path or pivot to a new direction. Remember, a layoff can be a catalyst for positive change if you approach it with the right mindset.

Step 4: Update Your Personal Brand

In today’s job market, your personal brand is more important than ever. It’s how you present yourself to potential employers and network connections. Here’s how to refresh and strengthen your personal brand:

1. Update your resume: Highlight your most recent achievements and ensure your resume reflects your current career goals.
2. Revamp your LinkedIn profile: Make sure it’s complete, up-to-date, and showcases your skills and experiences effectively. Don’t forget to turn on the “Open to Work” feature.
3. Audit your online presence: Google yourself and ensure that what potential employers find aligns with the professional image you want to project.
4. Develop your elevator pitch: Craft a concise, compelling summary of who you are professionally and what you’re looking for in your next role.
5. Consider starting a blog or contributing to industry publications: This can establish you as a thought leader in your field.
6. Create or update your personal website: This can serve as a comprehensive portfolio of your work and achievements.

Remember, your personal brand should authentically represent who you are and what you bring to the table. It’s not about creating a false image, but about effectively communicating your value to potential employers.

Step 5: Expand and Leverage Your Network

Networking is one of the most powerful tools in your job search arsenal. Many jobs are filled through personal connections before they’re even advertised. Here’s how to make the most of your network:

1. Reconnect with former colleagues, managers, and clients: Let them know about your situation and what kind of opportunities you’re seeking.
2. Attend industry events and conferences: These are great places to meet new contacts and learn about potential opportunities.
3. Join professional associations: Many offer job boards, networking events, and educational resources.
4. Utilize LinkedIn: Engage with your connections’ posts, join relevant groups, and participate in discussions.
5. Consider informational interviews: Reach out to professionals in roles or companies you’re interested in to learn more about their experiences.
6. Don’t be afraid to ask for help: Most people are willing to assist if you’re clear about what you need.
7. Give back: Networking is a two-way street. Look for ways to help others in your network as well.

Remember, effective networking is about building genuine relationships, not just asking for favors. Approach each interaction with authenticity and a willingness to provide value to others.

Step 6: Enhance Your Skills

Use this period of transition to invest in your professional development. Enhancing your skills can make you more competitive in the job market and may open up new opportunities. Here’s how to approach skill enhancement:

1. Identify skill gaps: Research job postings in your field to identify skills that are in high demand.
2. Take online courses: Platforms like Coursera, edX, and LinkedIn Learning offer a wide range of courses, many of which are free or low-cost.
3. Earn certifications: Industry-specific certifications can significantly boost your credentials.
4. Learn a new language: This can be particularly valuable if you’re in an industry with international reach.
5. Improve your tech skills: In today’s digital world, proficiency with relevant software and tools is crucial in most fields.
6. Develop soft skills: Don’t neglect skills like communication, leadership, and problem-solving. These are valuable in any role.
7. Volunteer or take on freelance work: This can help you gain practical experience while building your network.

Remember, learning new skills not only makes you more marketable but can also boost your confidence and keep you motivated during your job search.

Step 7: Prepare for the Job Search

Now that you’ve reflected, updated your brand, expanded your network, and enhanced your skills, it’s time to prepare for the active job search. Here’s how to set yourself up for success:

1. Set clear goals: Define what you’re looking for in terms of role, industry, company size, culture, and compensation.
2. Create a job search schedule: Treat your job search like a job itself, with dedicated hours each day.
3. Use multiple job search channels: Include job boards, company websites, recruiters, and your network.
4. Tailor your applications: Customize your resume and cover letter for each application to highlight relevant skills and experiences.
5. Prepare for interviews: Research common interview questions in your field and practice your responses.
6. Set up job alerts: Many job sites allow you to receive notifications for relevant openings.
7. Keep track of your applications: Use a spreadsheet or job search app to monitor where you’ve applied and follow up appropriately.

Remember, a successful job search requires persistence and resilience. Stay organized and maintain a positive attitude throughout the process.

Step 8: Take Care of Your Mental and Physical Health

A job search can be stressful and time-consuming, but it’s crucial not to neglect your overall well-being. Here’s how to maintain your health during this period:

1. Establish a routine: Set regular wake-up times and maintain a structured day, even without a job to go to.
2. Exercise regularly: Physical activity can boost your mood, reduce stress, and increase energy levels.
3. Eat a balanced diet: Proper nutrition supports both physical and mental health.
4. Get enough sleep: Adequate rest is crucial for maintaining focus and managing stress.
5. Practice mindfulness or meditation: These techniques can help manage anxiety and improve overall well-being.
6. Maintain social connections: Don’t isolate yourself. Regular social interaction is important for mental health.
7. Pursue hobbies and interests: Engaging in activities you enjoy can provide a sense of accomplishment and balance.

Remember, taking care of yourself isn’t a luxury—it’s a necessity. A healthy mind and body will serve you well in your job search and beyond.

Step 9: Consider Alternative Work Arrangements

While you’re searching for your next full-time opportunity, consider exploring alternative work arrangements. These can provide income, keep your skills sharp, and potentially lead to permanent opportunities. Options include:

1. Freelancing or consulting: Use your expertise to take on short-term projects.
2. Temporary or contract work: Many companies hire temporary workers, which can sometimes lead to permanent positions.
3. Part-time work: This can provide some income while still allowing time for your job search.
4. Gig economy jobs: Platforms like Uber, TaskRabbit, or Fiverr can provide flexible income opportunities.
5. Starting a small business: If you’ve had an entrepreneurial idea, now might be the time to explore it.
6. Volunteering: While unpaid, volunteer work can provide valuable experience and networking opportunities.

Remember, these alternatives don’t have to be long-term solutions, but they can bridge the gap and potentially open up unexpected opportunities.

Step 10: Stay Positive and Resilient

The final step, and one that underpins all the others, is maintaining a positive attitude and building resilience. Job searching can be a rollercoaster of emotions, with highs of promising interviews and lows of rejections. Here’s how to stay positive:

1. Practice gratitude: Each day, note three things you’re grateful for. This can shift your focus to the positive aspects of your life.
2. Celebrate small wins: Acknowledge every step forward, whether it’s a completed application, a networking connection, or a skill you’ve improved.
3. Reframe setbacks: View rejections as learning experiences rather than failures.
4. Surround yourself with positivity: Spend time with supportive people who encourage and motivate you.
5. Visualize success: Regularly imagine yourself succeeding in your job search and thriving in your next role.
6. Set realistic expectations: Job searches often take longer than expected. Patience is key.
7. Take breaks: It’s okay to step away from your job search periodically to recharge.

Remember, your attitude can significantly impact your job search success. Employers are drawn to candidates who demonstrate positivity and resilience.

Conclusion

Being laid off is undoubtedly a challenging experience, but it doesn’t define your career or your worth as a professional. By following these ten steps, you can navigate this transition period effectively and set yourself up for future success. Remember, many successful leaders have faced similar setbacks in their careers. What sets them apart is how they responded to the challenge. View this period as an opportunity for growth, self-reflection, and ultimately, a chance to steer your career in a direction that aligns with your values and goals. Stay focused, stay positive, and keep moving forward. Your next great opportunity may be just around the corner. Embrace this journey of self-discovery and professional growth, and you may find that this layoff was the catalyst for the next exciting chapter in your career.

Resources

Here is a list of books to help with your job transition!