While getting fired from your job sounds like a significant financial and emotional setback, it also brings feelings of uncertainty about the future. However, how the person responds to this situation can significantly affect the trajectory of his/her career and personal well-being. With the right mindset and a structured plan of action, the “idle time” can be used as an opportunity to pivot, grow, and most importantly, re-align your career with your goals and aspirations.
International Finance can help you through this challenging transition by providing actionable steps on how to pivot, grow, and move forward into the next phase of your career with practical and inspiring insights on financial matters, personal growth, and job searching. Here are six key steps to take.
Take A Moment To Process And Reflect
Getting laid off is an emotional experience, and you may need some time to process your feelings before taking action. Think about why you were laid off and how it will impact your next steps. The truth is, it is rarely your fault. This is a time for self-care and to regain your emotional equilibrium. By taking the time to acknowledge your emotions, you can begin anew with clarity and resolve.
Assess Your Financial Situation
When you are laid off, you need to look at your finances to determine how much money you have available to live on during this time and how long you can support yourself. If you have no savings, you may want to get advice from a financial advisor to budget how you can live without a regular income.
Apply For Unemployment Benefits
After being laid off, you should take one of the first practical steps to apply for unemployment benefits, which can be a financial bridge to search for a new job or upskill, and filing for benefits varies by state.
Update Your Resume And LinkedIn Profile
The time has come to update your LinkedIn profile and resume to reflect your most recent work. Highlight your abilities, accomplishments, and contributions from your prior position, and customise your resume to fit the kinds of jobs you’re looking for. A well-maintained LinkedIn profile can make you stand out to recruiters and employers.
Network And Reach Out To Contacts
One of the best methods for discovering new opportunities is to network, reaching out to former colleagues, mentors, and other professional contacts to let them know you are seeking new roles. Referrals fill many jobs, and having a strong network can lead to more hidden opportunities.
Consider Freelancing Or Consulting
Freelancing or consulting can help you maintain productivity while you look for a new full-time job. Think about sharing your knowledge in fields where you excel.