How To Get On Track After Getting Laid Off
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Getting laid off and losing your job can be anxiety-triggering. It doesn’t matter if you see it coming or if it catches you off guard, layoffs will put you in front of several challenges, both personal and professional. But as hard as it may be, this doesn’t reflect your capacity or commitment as a professional, and it’s up to you to get yourself back on the road to success.
If you were recently laid off and are struggling to bounce back, this article will help guide and motivate you to get back on your feet for the next opportunity that awaits.
What’s with the wave of layoffs during 2022?
Recently, DoorDash has joined the group of companies that have been forced to perform employment cuts. Around 6% of its global workforce will be laid off to reduce operating costs and offset mounting losses. As shocking as it sounds, US layoffs don’t seem to be ending soon, and even though 2023 is around the corner, some specialists predict more layoffs in the upcoming year.
This year was filled with labor events and trends that impacted the workforce; from the great resignation to quiet quitting, and many obstacles have gotten in the way of a job market eager to uprise after the pandemic. Layoffs seem to be the new variable for professionals and companies, who, despite the ups and downs, have found ways to cope with the hard times.
Though the reasons for the layoffs may vary from company to company, many specialists agree that inflation, economic turndowns, and a potential recession are two sustained points by companies’ boards and other experts. The job cuts in the tech industry have been the most influential. In case you haven’t yet heard of them, here are some of the larger tech company layoffs as of the writing of this article:
- Meta – 11,000 jobs cut
- Twitter – 3,700 jobs cut
- Stripe – 1,100 jobs cut
- Coinbase – 1,100 jobs cut
- Shopify – 1,000 jobs cut
- Snap – 1,000 jobs cut
- Microsoft – 1,000 jobs cut
- Lyft – 700 jobs cut
These cuts triggered what many specialists call the “loud layoffs” era. Though these massive layoffs and the weakening economy forecast a not-so-bright immediate future, the labor market will remain tight for 2023. Despite the challenges, the 5.5% unemployment rate projected for next year remains low, especially compared to the rates of other job recessions, like the 15% figure of the 2020 pandemic.
What to do after getting laid off
Many people have been there, the frustration and other negative feelings are inevitable, and even if you’re a top performer, you’ll be wondering what you did wrong or if you’re responsible for being laid off. Truth be told, you’re not. Layoffs are closer to a unilateral decision made by your company as opposed to being fired for lacking skills.
Do your best to remove self-doubt, blame, or developing imposter syndrome, and instead, consider some of these actions to find peace and get yourself back on track.
Take some “me” time
If you were committed to your job, take pride in the fact that you gave it your all. You went above and beyond to meet goals and expectations. This means you may have sacrificed taking vacations or practicing hobbies. Pass over the bitter experience of being laid off by focusing on your priorities. Use the free time and money you gained in severance pay to take a trip or even learn something you’ve always wanted to but couldn’t because of your job.
This step includes working on your mental health and emotional well-being. If learning something new or taking a trip is not enough, try venting your feelings to a trusted friend or family member. It’s ok to be private about your situation, but it’ll be a great relief to share with someone or even seek professional help if sharing feels like an additional burden.
Organize your expenses and budget
After gaining back your peace of mind, evaluate your current situation and where you stand financially. Most of the anxiety of being laid off comes from the pressure of having monthly expenses without a steady income. Assess your household budget and debt; this will allow you to adjust your financial standing and establish a sense of security while looking for a job.
Evaluate your career path
Layoffs are challenging, for sure, but once you pass the initial negative feelings, you can see your situation as an opportunity to make changes. Take time to examine the course of your career and if you’re comfortable with the work-life balance you had in your previous position. If you’re not completely satisfied with it, this is the perfect moment to explore new options.
A career change may be the best way to get back on track in the labor market, especially if your work industry has suddenly become unstable. Starting a career in a new industry allows for the potential of increasing your income, gaining better work benefits, or even finding a role with flexibility or work from home options.
Update your resume
After deciding your next move, it’s time to take action. An easy step you can start with is getting your resume and LinkedIn profile up to date. Let your network know you’re available for hire; you never know if a recruiter or hiring authority will come across your profile or if someone within your contacts knows about an excellent role for you.
When the time for an interview comes, make sure to be upfront about your layoff. A simple but accurate explanation is enough; just keep it concise and short, and include an upbeat phrase that reflects your confidence in your skillset and potential.
Talk to a recruiter
Suppose you spent so many years in your role before getting laid off that you’re unaware of the latest job-seeking trends and strategies. If that’s the case and you want to increase your chances of finding a job that’s the right match, you should connect to a recruiter. Aside from expanding your reach, their experience and knowledge helps with polishing your profile and resume, preparing you for an interview, and gaining more insight on how to improve your search. Make sure to check gpac’s job board or talk to one of our recruiters.
Stay positive and open-minded
Keep in mind that your job search may be more complex and extended than you expect. An optimistic mindset is a must to successfully and peacefully navigate the whole process. Despite the discomfort at hand, recognize your productivity and acknowledge all your efforts; but most importantly, maintain the balance between looking for a job and taking care of yourself.
If you don’t get your dream job immediately, have an open mind about your expectations. You may find roles you hadn’t even considered, but that could still be really convenient for you, so don’t rush to reject any offers you receive. Analyze every option you have and make the right move for your professional and personal goals.
Contributed by Luis Arellano
