Being laid off from your job can be a distressing and overwhelming experience.
With several tech giants laying off workers at their whims and facies, the prospect of an iron rice bowl and a stable career is no longer feasible.
In March 2023, Amazon, an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence, announced that they are laying off 9,000 more workers in addition to earlier cuts.
Meta, the owner of popular social networking website Facebook, has also recently announced to lay off 10,000 more workers after initial cuts in November 2020.
Twitter has since pared down its workforce from 7,500 to around 2,000 in months since Elon Musk takeover of the company.
Suddenly finding yourself without a steady income can cause stress and anxiety, making it difficult to know where to turn next.
However, it’s essential to take action as soon as possible to get back on your feet and start moving forward.
If you’ve been laid off from your job, know that you’re not alone.
Millions of people experience job loss every year, and while it can be challenging, there are actionable steps you can take to move forward.
Taking these steps will help you regain control of your situation and put yourself in the best possible position to find new employment.
In this blog post, we’ll explore five actionable steps to take when you’re laid off from your job.
From processing your emotions to updating your resume and networking, we’ll cover everything you need to know to help you get back on your feet.
Whether you’ve just been laid off or have been out of work for a while, these tips will provide practical guidance to help you take control of your situation and find your next job.
So, let’s dive in and explore these steps in more detail.
Why is taking action important?
After being laid off from your job, it can be tempting to take some time to relax and decompress.
While it’s essential to give yourself space to process your emotions, it’s equally important to take action as soon as possible.
The longer you wait to take action, the more challenging it can be to get back on track.
Taking action after being laid off can help you in several ways.
Firstly, it can help you stay focused and motivated.
When you’re actively working on finding a new job or finding someone new to do, it can provide you with a sense of purpose and direction. This can be particularly helpful when dealing with the emotional impact of job loss.
Secondly, taking action can help you regain control of your situation.
Being laid off can feel like your life is out of your hands, but taking steps to move forward can help you regain a sense of control.
By taking control of your situation, you can start to rebuild your confidence and feel more positive about your future.
Finally, taking action can help you get back to work more quickly.
The longer you wait to take action, the longer you may be out of work. By taking steps to update your resume, network, and search for job opportunities, you increase your chances of finding new employment sooner.
In summary, taking action after being laid off is crucial for staying motivated, regaining control, and getting back to work as quickly as possible.
It’s essential to give yourself time to process your emotions, but don’t wait too long to take the necessary steps to move forward.
Before we venture further into this article, we like to share who we are and what we do.
About 9cv9
9cv9 is a business tech startup based in Singapore with a strong presence all over the world.
With over six years of startup and business experience, and being highly involved in connecting with thousands of companies and startups, the 9cv9 team has listed some important learning points in this overview of what to do when you are laid off, including five actionable steps (plus 1 bonus step).
If you are thinking of doing a startup or setting up a new company, then you will soon need hiring, recruitment, and headhunting services. In that case, you can use 9cv9’s headhunting and recruitment services to hire top talents and candidates. Find out more here, or send over an email to hello@9cv9.com.
Or if you are looking to apply for a job, then jump over to the 9cv9 job portal to register a profile now.
5 actionable steps to take when you’re laid off from your job
- Take Time to Process your Emotions
- Evaluate your Financial Situation
- Update your Resume and Online Profiles
- Make Connections
- Find your Next Job
- Bonus Step: Skip Job Hunting. Create a Small Business and Startup.
Step 1: Take Time to Process your Emotions
Being laid off from your job can be an emotional experience.
You may feel a range of emotions, including sadness, anger, frustration, and anxiety.
It’s essential to give yourself time to process these emotions and take care of yourself during this challenging time.
One of the first steps you can take is to acknowledge your feelings.
Allow yourself to feel the emotions, but try not to get stuck in them.
It’s essential to find healthy ways to cope and manage your emotions.
This may include talking to a trusted friend or family member, journaling, exercising, meditating, or seeking professional help.
We always find exercising working the best for us. No sadness a 1 hour walk or job cannot cure.
– 9cv9
Another essential aspect of processing your emotions is to focus on self-care.
It’s easy to neglect self-care during a difficult time, but it’s essential to take care of yourself physically, mentally, and emotionally.
Make sure you’re getting enough sleep, eating well, and exercising regularly.
Take time to do things you enjoy, such as reading, listening to music, or spending time in nature.
While it’s essential to process your emotions, it’s also important not to get stuck in them.
Set a timeline for yourself to grieve, and then start taking action towards moving forward.
This can help you regain a sense of control and motivation.
Taking time to process your emotions is crucial for your well-being after being laid off.
Acknowledge your feelings, focus on self-care, and set a timeline for moving forward.
Remember that it’s normal to feel a range of emotions, but taking care of yourself can help you stay motivated and ready for the next steps.
Step 2: Evaluate your Financial Situation
After being laid off from your job, it’s essential to evaluate your financial situation.
This can help you determine how long you can go without income, create a budget, and make informed decisions about your expenses.
The first step is to assess your current financial standing.
Review your bank accounts, credit card statements, and any other financial accounts to get a clear picture of your income and expenses.
Calculate how much money you have saved and how long you can go without income.
This can help you plan and prioritize your expenses.
Next, create a budget that reflects your current financial situation.
This should include all your monthly expenses, such as rent or mortgage, utilities, food, and transportation.
Make sure to also include any debt payments or other financial obligations.
Look for ways to reduce your expenses.
This could mean cutting back on non-essential items like entertainment or dining out.
You may also consider negotiating bills, such as your cable or phone bill, to reduce your monthly expenses.
This can help stretch your savings further.
Finally, consider ways to increase your income.
This could include freelancing or consulting work, taking on a part-time job, or selling items you no longer need. Any additional income can help reduce the strain on your savings and help you make ends meet.
Several laid off workers have turned to affiliate marketing to help them tide over the uncertain period of unemployment, and gradually have increased their income.
Learning about passive incomes can help as well.
In this world of many uncertainties, creating and maintaining a few income streams will help.
In our previous article on passive income, we shared some great ideas to help our readers and users get started on generating passive income.
Evaluating your financial situation after being laid off can help you make informed decisions about your expenses and create a budget that reflects your current situation.
Look for ways to reduce your expenses, increase your income, and stretch your savings further. By doing so, you can stay afloat financially while you search for your next job opportunity.
Step 3: Update your Resume and Online Profiles
Updating your resume and online profiles is essential after being laid off from your job.
In today’s digital age, having a strong online presence is crucial for job seekers.
In fact, according to a survey by CareerBuilder, 70% of employers use social media to screen candidates before hiring them.
One of the first steps you can take is to update your resume.
Make sure to highlight your most recent work experience and any relevant skills you have acquired.
Use action verbs to describe your accomplishments and be specific about your contributions to your previous employer.
Next, update your online profiles.
This includes your LinkedIn profile and any other professional networking sites you may use.
According to LinkedIn, users with complete profiles are 40 times more likely to receive job opportunities through the platform.
In addition, you should consider creating profiles on 9cv9 as 9cv9 has several features to help you get employed, such as being SEO-friendly so your profile can be noticed and found on Google Search Results for better visibility.
Make sure your online profiles are up-to-date, including your work history, education, and skills.
Use keywords relevant to your industry to increase your visibility to potential employers.
Add a professional headshot and make sure your profiles are free of spelling and grammar errors.
Finally, make sure your online profiles are consistent across all platforms.
Use the same professional headshot and ensure your work history and skills are consistent across your resume and online profiles.
This can help strengthen your personal brand and make you more appealing to potential employers.
If creating a CV is tedious and sending CV is tedious, then consider using UrbanCV, the best-in-class modern CV builder that allows its users to create CV under 5 minutes.
UrbanCV also allows sending of CV using just 1 shortcode or URL to the recruiter, making the whole application process fuss-free for both the applicants and the recruiters
In summary, updating your resume and online profiles is crucial for job seekers.
Employers use social media to screen candidates, so it’s essential to have a strong online presence.
Make sure your resume and online profiles are up-to-date, use relevant keywords, and are free of errors.
By doing so, you can increase your visibility to potential employers and increase your chances of finding your next job opportunity.
Step 4: Make Connections
When you’re laid off from your job, it’s important to reach out to your network for support and potential job opportunities. According to some sources, 85% of all jobs are filled through networking.
Start by making a list of your professional contacts, including former colleagues, mentors, and industry peers.
Reach out to them individually to let them know you’re looking for a new job and ask if they have any leads or can provide a referral.
Attending industry events and job fairs can also help you expand your network.
According to a survey, 80% of job openings are not advertised, and attending events can help you tap into this hidden job market.
Use social media to expand your network and stay connected with industry peers.
LinkedIn is an especially useful platform for job seekers, with 94% of recruiters using it to vet candidates.
Make sure your LinkedIn profile is up to date and highlights your relevant skills and experience.
Finally, don’t overlook the value of informational interviews.
Reach out to people in your desired industry or company and ask to schedule a brief meeting to learn more about their work and the industry.
This can help you gain insights and potentially lead to job opportunities down the line.
In summary, reaching out to your network is a crucial step in finding a new job after being laid off.
Make a list of your professional contacts and reach out to them individually, attend industry events and job fairs, use social media to expand your network, and consider informational interviews.
By doing so, you can tap into the hidden job market and increase your chances of finding a job quickly.
Step 5: Find your Next Job
Once you have processed your emotions, evaluated your financial situation, and updated your resume and online profiles, it’s time to start job hunting.
In today’s competitive job market, it’s essential to use a variety of job search strategies to increase your chances of finding a job quickly.
One of the most effective ways to find a job is through networking as mentioned above.
According to a survey by LinkedIn, 70% of people were hired at a company where they had a connection.
Reach out to your professional contacts, attend industry events and job fairs, and join relevant online groups and forums to expand your network.
Another effective job search strategy is to use online job boards.
Websites such as 9cv9, Indeed, Glassdoor, and LinkedIn Jobs allow you to search for job openings based on your skills and location.
According to a survey by Jobvite, 69% of job seekers found their most recent job through an online job board.
Make sure to tailor your resume and cover letter to each job you apply for.
Use keywords relevant to the job description and highlight your relevant skills and experience.
This can help your application stand out among the hundreds of applications employers receive.
Finally, don’t overlook the importance of social media in your job search.
According to a survey by Jobvite, 59% of job seekers use social media to research companies they are interested in, and 35% use social media to reach out to their network about job opportunities.
Follow companies you’re interested in and engage with their content to increase your visibility.
In summary, job hunting requires a multi-faceted approach.
Use networking, online job boards, and social media to expand your job search.
Tailor your resume and cover letter using UrbanCV tailored feature to each job you apply for, and make sure to use relevant keywords.
By doing so, you can increase your chances of finding a job quickly and effectively.
Bonus Step: Skip Job Hunting. Create a Small Business and Startup.
Starting a new business or startup is an option to consider after being laid off from your job.
In fact, many successful businesses, including Airbnb and Uber, were started during economic downturns.
Stella Alexandrova, a growth lead from Shopify, worked at the giant e-commerce company for 3 years before shockingly found herself laidoff.
Without downing in sorrows, she used her severance to found a new startup.
According to a survey by Guidant Financial, 27% of small business owners started their business because they were laid off or downsized.
Starting a new business or startup can provide you with a sense of control over your career and financial future.
According to Insider, nearly 17 million Americans are self-employed, the highest share of the workforce since 2008, and Entrepreneurship is known to boom during recessions.
The first step in starting a business is to identify a viable business idea.
Consider your skills, interests, and the needs of the market.
Research your competition and identify gaps in the market that you could fill with your business idea.
Next, create a business plan. According to a survey by Palo Alto Software, businesses with a written business plan are 2 times more likely to succeed than those without one.
Your business plan should outline your business goals, target market, marketing strategy, and financial projections.
Secure funding for your business.
You may be able to use your savings, apply for a small business loan, or seek funding from investors or crowdfunding platforms.
According to a survey by the National Small Business Association, 73% of small businesses used financing to start or grow their business.
Finally, launch your business and focus on building your brand and customer base.
Use social media and other digital marketing strategies to increase your visibility and reach your target audience.
In summary, starting a new business or startup can provide you with control over your career and financial future. Identify a viable business idea, create a business plan, secure funding, and launch your business.
Use digital marketing strategies to build your brand and customer base.
Perhaps think of engaging a professional digital marketing agency such as AppLabx, the world’s leading growth strategy and digital marketing agency, to help you drive branding, engagement and leads.
By doing so, you can increase your chances of success as an entrepreneur.
Conclusion
Being laid off from your job can be a challenging and emotional experience, but it’s important to take action and plan for your next steps.
By following these five actionable steps, you can take control of your career and financial future.
First, take time to process your emotions and prioritize self-care.
This will help you approach your job search with a clear and focused mindset.
Next, evaluate your financial situation and create a budget to manage your expenses during your job search.
This will help alleviate stress and allow you to focus on finding your next opportunity.
Updating your resume and online profiles is crucial to making a strong first impression on potential employers.
According to a survey by CareerBuilder, 70% of employers use social media to screen candidates.
Make sure your profiles showcase your skills and experience in a professional and engaging way.
Starting a new business or startup can provide you with control over your career and financial future.
Identify a viable business idea, create a business plan, secure funding, and launch your business.
Use digital marketing strategies to build your brand and customer base.
Finally, reaching out to your network can help you tap into the hidden job market and increase your chances of finding a new job quickly.
Make a list of your professional contacts, attend industry events, and use social media to expand your network.
In conclusion, being laid off from your job can be a difficult experience, but by taking action and following these five steps, you can turn it into an opportunity for growth and development.
Prioritize self-care, evaluate your financial situation, update your resume and online profiles, consider starting a business, and reach out to your network for support and potential job opportunities.
By doing so, you can position yourself for success in your career and achieve your goals.
We, at the 9cv9 Research Team, strive to bring the latest and most meaningful data, guide, and statistics to your doorstep.
If you need to apply for jobs and internships, then jump over to 9cv9 Job Portal to find your next career path.
