What to do if you just got laid off?

This is a question nobody is prepared for when it happens.  What to do if you just got laid off?  Let’s face it; there’s no guidebook for an event like this.  The idea of picking up the pieces of a broken career can seem daunting. But don’t worry, I’m here to assure you that there is a life after getting laid off.

So in this article, I will walk you through the steps you should take if you unexpectedly lose your job.   

Getting laid off is traumatic.   

Getting laid off is one of the most traumatic events a person can experience professionally. The sudden and often unexpected loss of income (and identity) can be difficult to deal with for some.  And unfortunately, it’s happening to more people as entering 2023.   

A recent client just experienced a layoff at her employer of 6 months. During the week AFTER Christmas, they called an all-hands meeting to announce the corporation was going to lay off staff.  The cuts were effective immediately. Happy New Year to those affected folks!  (shame, shame).   

Always act like a free agent

But stories like this are becoming more common in today’s workplace.  The concept of working for one company for your entire career has become so antiquated that it’s amazing it once was a thing.  You have to act like a free agent in your career.   Because if you’re not looking out for yourself, nobody is.  

So what to do if you just got laid off?

You’ve got the dreaded meeting invite on your calendar with HR and your boss.  And with it, the news that your position has been eliminated immediately.  Nodding along as they ask if you have any questions, you barely speak.  You’re shell-shocked and hang up the call in disbelief. 

 Now, what should you do if you just got laid off?  

Do NOT Panic.      

It’s natural to freak out when you get news of losing your job.  Know that you’re not alone; many people have gone through this before.

You’ll be okay.  Many people come out stronger as a result. I also know countless people who’ve managed to get back on their feet and land better jobs than before.  

Case in point:  A client got laid off in mid-November 2022, right before Thanksgiving.  We updated his resume, guided him on interview strategy, and refreshed his LinkedIn game.  A week before Christmas, he landed a job offer making 50k more than his previous role.

Furthermore, he turned down another similar offer: multiple offers, all earning him significantly more.  Now I realize this is an exceptional (but indeed factual) story.  But you may find a layoff is a nudge you needed to make changes necessary in your career.  And perhaps even ones you’ve been avoiding.  

You will be fine if you do things correctly and have marketable skills. It may take you more than a month to land a job, but it will come.  Focus on what you can do today instead of panicking.   

Understand your severance package. 

Many companies provide at least a basic severance package. Read the fine print, and be sure to get all of your questions answered. 

• How many weeks of pay do I qualify for? 
• What about bonuses or any unvested equity? 
• How will my accrued vacation be handled? 
• Is there a non-compete?  
• When do benefits expire?
• How does COBRA work? 
• Is there outplacement?

Your HR person should be able to provide you with details on your severance package.  Make sure you know it inside and out.

File for unemployment assistance.  

Unemployment assistance helps provide some level of income during your job search.  It usually lasts six months or once you hit a certain cap.  The amount you’ll receive is proportionate to your previous income.  

Do you know those deductions on your paycheck?  One of them is unemployment.  You’re essentially paying yourself back (with the company matching), so do not feel bad about taking what you’re allocated.  

There is absolutely NO SHAME in collecting unemployment.  You may have the option of waiting until your severance is finished before applying for unemployment.  Some find this preferable because you’ll at least have some income for longer. Check with your local unemployment office about when you should file.   

Get your budget in order.    

If you’re going to survive on a lower income, you’re going to need to reduce your bills. Cut out anything non-essential: lawn services, pest control, and those six streaming channels.  

Review your monthly spending and see where you’re wasting money. I like to think of budgeting as a secondary stream of income. A dollar saved is a dollar earned.  

Think about that for a minute.  It’s true.   

If you do this exercise regularly, you’ll be surprised at the amount of wasteful spending you have. Unless you’re independently wealthy, start budgeting now – this is a MUST DO.  

Rewrite your resume.

Now, it’s time to get your resume and cover letters in order.  I recommend starting over if your resume is older than a year or two.  Unless you’ve had great results from your resume, I recommend starting over if your resume is older than a year or two.

Your resume is the first and most important impression that you’ll make on a company.   So it needs to be solid to get those interviews flowing in.  

How do you know if your resume needs help?   If you’re reasonably qualified for the jobs you’re applying to, and you’re not getting interviews, it’s almost always a resume issue.  

If you need help putting together a recruiter-approved resume but don’t want to hire a professional resume writer, check out Resume Rockefuel. 

Build your networks 

If you’re going to get back on your feet quickly, you’ll want to build strong networks.  LinkedIn is a great place to start.  Connect with anyone relevant to your career—previous bosses, coworkers, former classmates, etc.  Your goal is to build a network of people who can help your reach.  

I’d suggest postings about your current situation.  While it may feel embarrassing to announce you’ve been laid off publicly, nobody is judging you.  Think about when you’ve seen people post about their layoffs.   Did you assume anything about them?  

Letting everyone know you’re laid off and looking for your next opportunity will help bring attention to your profile. You never know who might have an opportunity.  

Update your LinkedIn profile 

While at it, you should make sure your LinkedIn profile is complete and relevant.  Update your photo and work experience.  If a hiring manager does happen across your profile, will it interest them in learning more about you?   

If you’re unsure how to create an effective profile and use LinkedIn to your advantage, check out Unlocking LinkedIn.  For professional white-collar employees, this is a must-do.  You want to be where the recruiters are.  

Brush up on your interview skills

Don’t wait until you get called to prep for the big interview.  Or even worse, wing it.  It would help if you were well prepared for any potential interview (some happen fast) because you don’t want to second guess how you answered an interview question.  

I’ve got plenty of resources, interview tips, and techniques on my website and Youtube channel for interview prep. There’s simply no excuse not to be prepared for the big interview.     

Be consistent and keep perspective.  

The most important thing to remember is to be consistent with your job search.   Set aside time each day for networking, looking for new jobs, and improving your skills.   Treat your unemployment like a full-time job.  Log in at a certain time and wrap up for the day like clockwork.  

And remember, your job search is likely going to take time.  A job search is not uncommon to go beyond six months or even a year.   The average job search length lasts 19.3 weeks, or about 5 months, in a “normal” job market.  In an uncertain market,  It could be longer. 

So be patient, and manage your expectations.i  Don’t get discouraged if you don’t land interviews right away. (PS…everyone gets rejections, myself included!).  If you’re not getting the results you want, pivot and adjust.

So there’s what to do if you just got laid off. 

Getting laid off is traumatic and disruptive, but you WILL overcome it.  Prepare, keep a positive attitude and be consistent and the results will come.   

If you need more help with your job search, you’ve come to the right place.   I’d encourage you to check out my Youtube and TikTok channels for more tips on how to get back on your feet after a layoff.  

You got this!!  

-Bryan