Losing your job for any reason is a terrible feeling. Even when it’s something that isn’t remotely your fault, like the business closing or making layoffs, it still feels terrible.
If you find yourself in that position, the first thing to know is that this is not a mark against you. Most employers understand that layoffs happen to employees, not because of them.
Next, get clear on what your severance package is. You may not be offered any sort of additional pay, but you may request it. Technically, employers are most often required to pay you through your last day of employment, but it doesn’t hurt to ask for something to cushion the blow. Here are some tips on negotiating a severance package. Also talk with HR about your retirement benefits, unused PTO, and any other benefits you may be able to keep. It will be hard to keep your wits about you, so I recommend making a list so you can ask all the questions you need to.
Another important early step is to file for unemployment. Do this as quickly as you can, because it sometimes takes a while for things to happen. Your unemployment benefits should be based on the salary you had when you were laid off, so make sure you know your salary. It’s often helpful to get a letter of unemployment from your employer (on letterhead) as part of your unemployment claim.
You may also need to set up health insurance. Some employers will offer you COBRA, but that can be expensive, so compare your options before you decide.
When you’ve tackled all the immediate stuff that needs doing, be sure you take some time for yourself. Even if you knew this was coming, it’s still an emotional experience. You may want to get some support, either from friends and family, or from a mental health professional. For many of us, losing a job feels like losing our sense of identity, so give yourself a day or two to grieve.
And then it’s time to start looking for a new job. Polish your resume, paying attention to accomplishments instead of routine duties. Work your network, informing people what’s happened and what you’re looking for. If it’s been a while since you were on the market, seek advice on how to look for a job. Resume and cover letter formats may have changed since you were last looking, and chances are that your interview skills are a little rusty. Check resources like The Balance Careers, Teal, and The Cut for tips.
If you’re really in a financial pinch, consider taking a gig job for the short term. Sites like Fiverr and Upwork are good starting places, and you can research your options on SideHusl. If you’re looking to freelance, here’s a list of freelance job boards.
If your finances are okay for a while, do some deep thinking about what you want next. Do you want to stay in your field or is this the perfect opportunity for a change? Where do you want to go next? Write down your ideas, clarify your needs and values, and identify any barriers that might exist to your next goal. As painful as a layoff is, it may be just the thing to get you where you want to go next.