For many, the stress of the pandemic has included the additional stress of job loss.
Losing a job can be very shocking and devastating. Because of this connection between self-worth and work, it’s common for people who’ve lost their jobs to blame themselves and wonder what they personally did wrong to end up unemployed. Even if you are a person who doesn’t define themselves by their job while employed, your self-esteem and mental well-being can suffer when you find yourself unexpectedly jobless. So what should you do to cope and bounce back from this setback?
Look after yourself first
Finding out that you have been retrenched is not the easiest thing to deal with so it is more important that you give yourself some time to absorb what has happened. Try and stay calm - In the days right after losing your job, it may be tempting to exhaust yourself with job searching. You may also feel criplled by depression and anxiety. It’s important to take a break to lower your stress level. However, remember that Just as it’s important to give yourself time to process the news, it’s also crucial to make sure you don’t spend too much time dwelling to the point that it becomes an unhealthy habit.
Review your finances
Debts, expenditures, bills and taxes – they’ll all continue to need your attention (and money!) after you’ve been retrenched. With that said, it is important to review your finances immediately and re-evaluate your monthly expenses and cut down any and all unnecessary expenditure. That’s why creating a budget that takes your new situation into account is essential. The last thing you want is to find yourself in debt because you unintentionally lived beyond your means. If you need financial advice, it is always best to seek professional help. In addition, it is always great to check out government websites to learn about the regulations regarding any employment insurance benefits or support.
Focus on what you can control
It can be beneficial to remind yourself of what you do have control over in the aftermath of losing a job.
For example, while you may no longer have control over your income, you do have control over your budget. You can control a routine of taking care of yourself mentally and physically. That means getting adequate sleep, maintaining your usual meal routine, staying physically active and protecting your mental health regarding both the news and your own personal experience of the pandemic.
Create an action plan
Get your cv and referrals in order: Once you have taken the time needed to take care of yourself, it is time to get your life in order. Start off by updating your CV, and LinkedIn profile. Remember to let recruiters know that you are seeking a new job on your social media pages too. Check out the different jobs available online or ask around to see if any immediate associates are hiring. People are more likely to hire someone through recommendations.
Stay on top of your industry: As much as you may be down in the dumps, fight the urge to unplug from your industry. To bounce back quickly, and to not miss out on new opportunities, you need to stay on top of the latest technology, certifications, mergers, and developments. Upskill where possible.
Network: Start connecting or reconnecting with your family, friends, professors, former colleagues, and recruiters. There’s no shame in reaching out to these contacts to let them know you’re looking for something new. Build professional relationships by attending events put on by organizations within your industry.
Maintain a positive outlook
Your mindset can make or break your success when it comes to managing job loss and creating your next career step. It’s easy to start thinking about the worst-case scenarios. Instead, you need empowering thoughts and positive energy to pursue new opportunities. Sometimes retrenchments can be a blessing is disguise and open up possibilities that you might never have considered, or starting that new chapter that you always had in the back of your mind but were too scared to go for. Although it may be hard, stay future-focused, believe in your abilities and set yourself up for success.
