Things to Do When Fired From Job
Being fired from a job is a depressing event. How a person recoups from such a disaster depends on his or her mental strength and courage, and how they handle critical factors that ensure a successful rebound.
Reconciliation on Being Fired from a Job
The loss of a job usually deprives the person of a steady income and healthy social life, but such a change is fast becoming the new world order.
The world is moving at a fast pace and the only constant thing is change. With change bringing in more opportunities, job-hopping is on the rise, and lay off or no lay off, the amount of time a person spends in a single organization is on a fast decline. The latest trend is away from regular employment and towards independent contracting, where freelancer offers their skills to organizations on a contract basis.
The laid-off employee needs to work towards updating existing skills, acquiring new skills, and documenting and quantifying successful implementation of existing skills at the last job.
Time to Consider Midlife Career Change
The loss of the job is the time to introspect. The individual should analyze why the organization laid him or her off and try to rectify the situation. Possible causes for lay off could be a lack of adequate skills, poor interpersonal relationships at work, and the like. Of primary importance is to benchmark oneself with those who managed to retain their jobs, and try to acquire the skills, competencies, and traits such people possess.
If the cause for lay off is due to factors outside the control of the individual, such as global economic recession or the company filing for bankruptcy, the individual needs to review future options in the same career and consider a midlife career change by undertaking a fresh career planning exercise.
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Most people do not know what to do after the layoff and make the mistake of withdrawing into a shell or taking an extended vacation.
The time when one has lost a job is the time to be more active maintaining contacts with friends, ex-colleagues, old college mates, and the like, and attending professional meetings. Such forms of career socialization become valuable in the hunt for the next job. It might also be a good idea to take up a temporary job, even if low paying and not related to the career to prevent slipping into lethargy.
Managing Personal Finances
The loss of a job is likely to throw the individual’s financial planning haywire.
The best financial planning during layoffs actually starts before the layoff, when the employee expects such an eventuality and takes necessary precautions.
The need of the hour is to adjust finances based on the new realities. Significant changes in lifestyle, adjustments in mortgage payments, and withdrawals from savings to tide over unemployment takes priority. Two important considerations are to register for unemployment benefits and ensure the continuation of the health insurance policy.
A person who uses the opportunity of a layoff to take stock of the situation, enhance their skill sets or consider a midlife career change, indulges in career socialization, and effectively manages finances preserves his or her dignity during the layoff and stands a greater chance of getting a job after being fired.