What To Do If You Lose Your Job

Being laid off or fired from your job is never a pleasant issue. The loss of a job is often emotional and even traumatic, especially if it comes as a surprise. Although finding oneself suddenly unemployed can be paralyzing, it is important to be proactive in taking steps to protect your professional and financial future.

Consider Consulting a Lawyer

As an employee, you have certain rights. Depending on the behavior of your former employer and the circumstances of your termination, you may be eligible for compensation. Wrongful dismissal lawyers can evaluate the circumstances of your case to determine whether you have the option of pursuing a settlement.

Leverage Your Network

When you start to consider your next job, reaching out to friends, acquaintances and colleagues will help you to identify professional opportunities and set up interviews. If you choose to use your job loss as an opportunity to explore a new industry, your contacts can help you to set up informational interviews or job shadowing opportunities. Your college's alumni network is another valuable resource. Go online or call the alumni office to find out how to get connected. Many colleges and universities offer networking events several times each year.

Evaluate Your Finances

Ideally, you would have enough money saved to cover your living expenses for several months in the event of a job loss or medical emergency. Depending on the current state of your finances, you may need to cut back on non-essential expenses, such as meals at restaurants, entertainment and vacations. If you keep a monthly budget, make sure to revise it to reflect your current situation. In the event that you are unable to cover even your essential expenses after losing your job, there is no shame in asking for help from family, friends or other resources.

Update Your Resume and LinkedIn Profile

If you were in the same position for several years prior to losing your job, your resume and LinkedIn profile may be out of date. Evaluate them and consider adding, deleting or rewording certain sections. If you have acquired any new skills or certifications or won any professional awards since the last time you edited your resume, make sure that they are included. Your goal is to impress potential employers and set up as many interviews as possible.

By following these steps, you should be able to weather the difficult situation of losing your job. If you were not satisfied with your career, you may even be able to use it as an opportunity to break into a new field. Good luck!