How To Handle Your Emotions and Finances After Being Laid Off

Being laid off is a scary time, especially for those who didn’t see it coming. The sudden loss of income can be a terrifying prospect, especially when bills need to be paid. Instead of going into a full panic mode, however, there are a few steps you can take to help yourself out in the beginning stages of unemployment.

 

  1. Understand Your Emotions

It’s going to be easy to see being laid off as a personal attack. However, in most of the cases, it was a decision based on the company’s overall performance need to increase their profit over expenses. It has absolutely nothing to do with who you are as a person and how you performed. That being said, you’re likely going to feel angry, depressed, even stressed. It’s essential, however, that you don’t let those emotions fuel decisions. For example, you’ll want to stay on good terms with your coworkers and your boss. Those are tools you can use for networking later on when the time comes to search for a new job. More than that, you may find that your old position becomes available again later on, and you don’t want to have burned down that bridge by posting something silly on social media.

Take the time nurse your feelings. Perhaps treat yourself to a little something. To deal with the anxiety and stress, you should exercise to release some of that aggression and energy. Afterward, you’ll likely feel a lot better than you did before.

 

  1. Talk To HR

Many companies offer severance packages or hire outplacement services for manufacturing companies. These policies could help you receive a certain amount of income for a time while you search for another job. You should also talk to your HR personnel to see how your benefits are going to be affected and if you still are able to maintain them for a certain period of time. Once you understand what you do and don’t have, you can better prepare financially.

 

  1. Recommendations

This is where keeping those contacts close comes into play. In some cases, your boss is basically going to owe you for having to let you go. You can call in on that favor by having them write a recommendation letter for you. These letters are critical in certain professions where who you know is more important than what you know. By having a glowing recommendation from your boss, you can turn a loss into a gain.

 

  1. File For Unemployment

Another step you can take financially to help yourself out while searching for another job is to file for unemployment. While there are certain qualifications that you need to fill in order to receive unemployment benefits, the check could be a form of relief when your savings are starting to take a hit. In some cases, applying for unemployment can be as easy as filing online at home.

 

  1. Review The Department of Labor Resources

The Department of Labor has an astounding amount of resources for employed and unemployed individuals. By taking a look through these resources, you can determine if there is any legal action you can take or just to ensure that you have received all of the money that you were supposed to receive. For example, you may be due paid vacation money, over time, or even back pay. Utilize the resources on their website to make sure you’re not being taken advantage of or losing out on any benefits that could seriously help you.

 

  1. Begin The Job Search

This may be the part that you’re dreading the most, but it’s the final step forward. Rework your resume, add those new references and recommendation letters, and then start your search. You may just find a new job that fits you like a dream, even better than the last.

Craig Middleton

Craig has worked in health, real estate, and HR businesses for most of his professional career. He graduated at UC Berkeley with a bachelor's degree in Marketing.

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