Layoffs are a gut blow. Whether you were expecting it or left entirely in the dark, the ensuing weeks and months are difficult on both an emotional and financial level. However, what matters most is what you do next, as it has a significant impact.
The U.S. Bureau of Labor Statistics indicates that nearly 1.5 million Americans were laid off or terminated in January 2024 alone.
And although the layoffs themselves are unavoidable, what comes next is not. Some of these workers make avoidable mistakes in doing so, which can extend their job search, result in lost dollars, or even damage their professional reputations.
If you’re in the worst-case scenario of getting fired, then these are five errors to avoid, and what to do when you get laid off:
1. Taking It Personally
It’s understandable to feel shocked, distressed, or even embarrassed about the lost job. However, interpreting this as a personal failure would demoralize you and complicate your job search.
Career coach Andrea Kay, author of This Is How to Get Your Next Job, says in the UsaToday article:
“On the brighter side, your industry, profession or another company might be heading in a new, challenging direction that will call for enhanced skills and knowledge that could take you with it, if you’re prepared.”
What you can do instead of taking all of this personally:
- Consider unburdening yourself to a mentor, friend, or therapist to process your feelings.
- Keep your past successes and your areas of strength in mind.
- Remember that you are not alone, as many talented people have also been retrenched or fired.
Additionally, try to practice some mindfulness exercises to strengthen your resilience during this challenging time.
Read More: Laid Off vs Terminated: What’s The Difference?
2. Hasty Acceptance of the Next Role
Your eagerness to fill your earnings gap might lead you to leap at the first decent opportunity that emerges. But jumping at a less-than-best opportunity can end up making you dissatisfied, or even worse, unemployed again.
Findings from The Muse’s Shift Shock survey have shown that:
“29% said their Shift Shock encompassed the job and the company, 41% would give a new job two to six months if they felt Shift Shock as a new hire, 48% would try to get their old job back if they felt Shift Shock at a new company, 80% said it’s acceptable to leave a new job before six months if it doesn’t live up to your expectations”
What to do instead:
- Think about your values, strengths, and goals.
- Create a list of “must-haves” and “deal breakers” for your next role.
- Spend the time upskilling or diversifying into new sectors.
- You can also take surveys to learn what kind of work you get most excited about and use to guide your next step.
3. Skipping Financial Planning
The moment you get fired, cash flow issues are top priority. But most professionals do not prepare budgets, in the hopes that the turnaround will happen overnight. Neglecting your finances can lead to unwanted debt or lost chances for support.
What can you do instead:
- Apply for unemployment benefits right away.
- Review your expenses and eliminate the luxuries.
- Explore potential health insurance options, such as COBRA or ACA marketplace plans.
Additionally, consider seeking a financial planner who offers free or low-fee consultations. There are several nonprofits, including the Financial Planning Association, that offer job seekers access to pro bono assistance.
4. Letting Your Network Go Cold
After getting laid off, many people withdraw, either from embarrassment or uncertainty. But hiding out can prolong your job search.
Jobvite’s 2024 Job Seeker Nation Report states that 47 percent of workers found employment through networking, rather than using an internet job search.
What to do instead of withdrawing:
- Contact former colleagues and mentors to inform them that you are actively seeking opportunities.
- Participate in virtual conferences or industry meetings.
- Share a post on LinkedIn to inform all your connections that you are ready to work and are on the market.
Don’t worry that it seems too easy. Even a posting like “Hi, I am seeking new prospects in [industry/field], so keep me in mind!” can create opportunities.
Consider joining a professional organization or attending a job seeker webinar. They don’t only assist but also expose you to things you otherwise might not have learned.
Read More: 5 Creative Networking Tips For People Who Hate Networking
5. Unfamiliarity with Rights and Benefits
Most employees are unaware of their rights after job loss, and employers are under no obligation to inform them. They could be owed money or benefits.
What to do to inform yourself on this topic:
- Ask for severance pay, pay-time-off payments, and medical benefits.
- Refer to your employee policy manual or HR guidebook for details.
- Check out an attorney if something doesn’t seem right to you.
Career coach Alison Green of Ask a Manager advises:
“Before signing anything, read the fine print and don’t be afraid to negotiate. Even standard severance packages may have wiggle room.”
Additionally, consider exploring worker retraining programs offered by your state labor department; numerous programs provide free training and placement assistance.
You may, in some states, be eligible for subsidized training under the Workforce Innovation and Opportunity Act (WIOA), designed to move dislocated workers into in-demand jobs.
What to Do When You’re Laid Off: The First 7 Days
Here’s a simple checklist for the first week after getting laid off:
- Breathe: Take 24-48 hours to think.
- Define terms: Request your severance letter and benefits details.
- File your unemployment benefits: File as soon as possible because delaying will impact your payment.
- Spruce up your resume: Emphasize results, achievements, and keywords
- Reach out to your network: Let others know that you are ready for a new job.
- Save money: Check your savings and cut unnecessary spending.
- Spend part of the time every single day looking for work: Approach job hunting as a part-time job.
Additionally, set up profession-specific alerts on sites such as Indeed, FlexJobs, and Built In. Consider exploring free career guidance courses offered by public libraries and nonprofit organizations.
A Lay-Off Is a Temporary Setback, Not the End of Your Career
Layoffs can be the end of the world, but most times, it’s also the beginning of something greater. If you avoid these typical pitfalls and make wise choices along the way, you’ll position yourself to wind up at a new job that is a better fit for your passions and values.
Whatever you’ve just experienced, such as being let go, a surprise layoff, here’s something to keep in mind: what lies ahead could be your best yet.
There is no one, single, universal script to use when being laid off, but acting early, networking, and being well-educated can never hurt. You’ve got this, and your next chapter has already begun.
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