Best tips to help you bounce back after a layoff

Being laid off can be a tough and emotionally charged situation. If you've gone through it at any point, you've probably experienced every negative emotion there is. While it's easy to get caught up in the self-blame, remember that being laid off is a business decision that was out of your control.

It's unsurprising, then, that 78% expressed fear that they might lose their jobs. Sadly, this fear became a reality for millions in the first quarter of 2022 alone. And unfortunately, these numbers have continued to rise, with reports of job losses every other month.

Getting laid off isn't exactly a barrel of laughs - but how you handle the situation can be key to bouncing back fast (and well!) So if you've found yourself in that situation, here is a guide from Workee experts on what to do when you get laid off.

What to do after being laid off

If you've been laid off, you must first remember that it isn't the end of the world, and there are more opportunities. This thought will help keep you calm while you map your next moves. 

Here are a few things we want you to note after a layoff.

1. Request for a formal layoff notice from your previous employer

People get laid off for various reasons; sometimes, it could be due to an economic downturn, a recession, mergers, or any other reason outside your influence or control. Asking for a layoff letter is important, especially if you were not fired due to negligence or unprofessionalism. This would help you while pursuing a new job because most employers would want to know your employment history and why you left your previous workplace.

It's always better that they know you were laid off for some circumstances outside your control and not fired for a fault you committed.

You may also ask your former employer for a recommendation or referral and a layoff letter.

2. Review your finances

When laid off, one of the most important things is to review your financial situation to establish your worth and what is due. Losing your job can be a financial blow, so taking stock of your financial situation as soon as possible is important. Review your budget and cut back on non-essential expenses.

Here are some of the things you need to do.

• Check for benefits: After a layoff, employers frequently provide various forms of financial assistance or benefits. It's also referred to as a severance package. Make sure to learn if there are any and how the claim procedure works.

• Claim your final paycheck: You'll need as much money as you can lawfully obtain at this stage to assure you that you'll be okay while looking for a new job. Therefore, after being laid off, claim your final paycheck.

• Assess your bills: you have to be realistic and check on your bills and expenses. Cut off non-essentials you can do without until you start regularly earning again.

• Reach out for professional help: If you're unsure what to do, you may want to seek professional help by reaching out to your accountant or a financial advisor.

3. Be intentional about taking care of your mental health

It's very easy to get lost in your head after a layoff; most people become so worried that they slip into depression, mental fatigue, and other mental/health challenges. When you lose your job, it's normal to feel disappointed, furious, or even anxious. Allow yourself to experience these feelings and take the time required to process them. However, try not to let these feelings get the better of you. It could make you unproductive, especially with pursuing new opportunities.

If you're finding it difficult to recover from the period of despair, here are a few things to help you;

• Exercise regularly: Exercising helps to control feelings of anxiety and depression. It also helps to enhance productivity.

• Talk to friends and family: it's always better to talk to someone, especially a loved one, in times like this. So, talk to a friend rather than bottle up your feelings or fear.

• Seek professional help: You may want to see a therapist or counselor to recover from a depressive state.

In the end, remember that this is only temporary, and you have the abilities and resources to recover.

4. Update your resume and cover letter

Before pursuing new opportunities, ensure that your resume is updated. If you have acquired any new abilities or experiences since your last position, include them in your resume. You may also seek assistance from a career coach or resume writer.

5. Take a bold step and be your own boss

That free window between a layoff and when you get a new job is an opportunity to explore new career paths. You should also consider the possibility of starting your own business. Consider exploring the trillion-dollar freelance market.

• Get the necessary certifications: if your chosen path requires a professional certification to enable you to practice, you should ensure you obtain these requirements to enhance your credibility.

• Conduct market research: Before you start your business, it's important to understand the market you're entering, your target customers, and their needs.

• Develop a business plan: A business plan is a detailed document that outlines your business's goals, target market, marketing and sales strategies, financial projections, and operations plan.

• Register your business: Depending on your business structure and location, you may need to register your business with the government to obtain a business license or permit.

• Use automation for increased efficiency: Launching and managing a new business can be stressful, especially with handling administrative functions. So rather than spend so much time trying to manage your business, you should employ smart, automated tools that would take the bulk of the work off your desk and enable you to focus on service delivery. One such tool you can leverage is Workee.

You need the Workee tool, and here's why;

Workee is a smart, all-in-one solution for independent professionals and freelancers who work by appointment. It enables them to manage their schedules easily, collaborate with clients, and handle payments from one place. Here is why you need Workee:

• For scheduling and booking: Workee enables your clients to book you and schedule appointments based on your availability. This means you can create your work schedule, and people can only reach you on available time slots that you approve. 

• To manage your clients: Workee provides a smart CRM tool directly on your dashboard to help keep track of your client's history and integrate your Google contacts to enable you to manage all of them from one place.

• For seamless communication and collaboration: The Workee software also provides a video conferencing tool to enable easy collaborations and communications. You can engage in video and voice conversations and also take notes while the meeting is ongoing.

• Payments and invoicing: Workee provides all you need in one place, including a payment system. Making it easy to receive payments with 0% transaction fees. You can also create and issue invoices with ease.

• Website builder:  Get a free no-code website to promote your new business when you sign-up on Workee. On your Workee website, an appointment and booking tool enables your clients to reach you. Also, the website does not require technical expertise; as it's a no-code platform, you can get it running in one minute or less.

The best part is that Workee has a free plan, and you can choose to stay on that plan forever; all you need to do is sign-up here now.

Conclusion

Remember, losing your job is not the end of the world. It can be a difficult experience, but it is also an opportunity to assess your career goals and take steps toward finding a new job that aligns with your passions and interests. Stay positive and keep moving forward.