What to do After a Job Loss?
Job loss can come out of nowhere. It is easy to panic. You might have no clue where to even begin or what your next steps should be. All this is overwhelming.
It’s important to shift your mentality. Start by thinking of your situation as an opportunity rather than a weakness. By shifting the way you think about the situation, you can begin the process of figuring out what to do next.
Look at Current Finances
The first step that you want to take, after filing for unemployment, is to take a look at your current spending habits. It’s crucial to cut costs however you can. To do this, you need to audit your spending. Begin by cutting some of those recurring expenses you might not even know about. Then, begin cutting all other unnecessary spending. This can include going out to eat, entertainment costs and more. Cutting all unnecessary spending can reduce your cash needed each month.
Consider a Career Change
When you lose your job, it can be easy to freak out and feel like you need to take the first job you can. It can be helpful to rethink this mindset. Maybe you weren’t happy at your job. This might be just what you needed, and it could be the right time to consider a different career path.
If you decide to make a career change, you need to look at what skills you need to acquire before you make the switch. Are there any courses you could take to reach those qualifications? If so, now is the right time to complete those.
Another option you could consider is relocation. Your current location might have a high cost of living, and relocating might be a good alternative. If you are in a stable financial situation, you could look for jobs in a location with a lower cost of living. This could save you money in the long run. It also can be the fresh start you might just be looking for.
Make Yourself Marketable
Creating a resume that you are proud to show a potential employer is crucial in landing a new job. Now that you are unemployed, your new full time job is job searching. Part of that is making yourself as marketable as possible. Your resume should show the value you will bring to the company, and you should tailor it to the job description.
Another aspect of marketing yourself is using Linkedin. This is a great way to let people know that you are looking for a job. You can connect with your network, who might be able to connect you with a job opportunity. Most people are willing to help a friend out when they can. Simply reach out, and you just might be surprised who can give you the opportunity you have been looking for.
Along with telling people you are looking for a job, LinkedIn is a great tool for interacting with others. You can interact with companies you are interested in. Through these interactions, you are able to get your name out there, as well as learn what jobs are available.
When you are unemployed, it’s so important that you are holding yourself accountable. You might want to make a schedule for yourself. For example, your mornings might consist of research, and after lunch you can apply to jobs. Later in the afternoon, you can take a class to gain a skill you have been wanting to learn.
Make sure to see what job boards work best for you. Once you find the jobs that you like, go to that company’s website. Be selective on the jobs that you apply to and research the company as much as you can. Have keywords in your resume that you know the company will be looking for.
What to do in the Meantime
Volunteering is a great way to spend some of your time while you are unemployed. One of the first questions that an employer might ask you if they know you were unemployed is, “What did you do with your free time?” Volunteering gives you the perfect answer to this question. It shows that you are passionate, and willing to give back.
Another way to spend your time could be starting a side hustle. This might be something you wanted to try for a long time or a passion project. You could start a blog, do freelance photography, or even reorganize people’s houses. You never know what a side hustle could lead to. This is a great way to develop multiple streams of income until you find a full time opportunity. It could even have the potential to become a full time source of income!
If you learn anything, it’s that sometimes a failure or a rejection can be a good thing. We all know the saying, “when one door closes, another door opens.” This is the mentality that you need to take into the next phase of your life. Think of this job loss as an opportunity for growth and as the potential to do something great.