Sometimes layoffs can be life-changing in a positive way. While losing your job can be shocking, a layoff can also be just what we need to get out of a dead-end situation and into a role that has a future. Still, losing your job can be a serious shock to the system, and it takes a bit of planning to recover and get back on track.
Take a few days to rest and regroup, then follow these tips for getting organized and psyched up for your next adventure – the job search.
1. File for Unemployment First
Unless you are independently wealthy, the obvious concern when you lose your job is money. While unemployment payments won't be as much as your regular salary, getting some funds flowing into your bank account can help quell the panic.
Start your post-layoff plan by getting online and filling out all of the necessary paperwork to begin your unemployment payments through your state's unemployment program. (Your employer should provide you with the essential information. If they haven't, contact the HR department.)
Even if you have received a severance package, it's a good idea to handle this first so that if your money runs out, you have your unemployment checks to fall back on. This should lessen your anxiety a bit.
A new job search always calls for a new resume. After a layoff, pull out your resume and blow off the dust. It's time to write your ticket to a new job.
2. Handle Your Health Insurance
Next, take a look at your health insurance plan. If you were paying out of pocket for your insurance, your coverage wouldn't be affected by a layoff. However, if you had insurance through your employer, you'll need to take some steps to ensure you remain covered during your time out of work.
Sometimes severance packages will include an extension of health coverage. If not, your employer is required to offer you COBRA coverage. COBRA can be significantly more expensive than employer-sponsored insurance so you might also consider selecting an Affordable Care Act plan on Healthcare.gov or through your state's health insurance marketplace.
If you are married and your spouse is employed full-time, look into the cost of transferring over to their health insurance. There may be a delay before your benefits are up-and-running, however, so make sure you are clear on the plan's details.
Being unemployed can be stressful, and stress can cause medical problems. Having your healthcare in place will help keep you strong and healthy during the work search.
3. Create an Elevator Pitch About Your Layoff
In a job search, an elevator pitch is a short speech that explains what you do for work and what you are looking for in your next role. While you should be able to highlight your strengths and skills in your pitch, it needs to be concise – no longer than the average elevator ride.
When you lose your job and begin the process of looking for another role, it's critical that you be able to quickly explain why you lost your job and what you hope to do next. Your prepared speech must be brief, simple, and upbeat. After all, you are looking to move on to the next opportunity, not dwell on the past.
When considering what you might say, remember to keep negativity out of your statement. Never trash your former boss or make damaging comments about your previous company. Instead, focus on the future.
Here is an elevator pitch that spins a layoff as a positive:
"After my former company was acquired, the new owners decided to close my branch. I loved my job, but I've begun to get excited about tackling a new challenge. Next, I am hoping to apply my skills as a sales manager to the auto industry where I'll be able to incorporate my lifelong passion for cars and trucks into my work."
Be sure to rehearse delivering your explanation until it feels natural. You'll use this script in both networking scenarios and for job interviews, so it's important that it sounds natural.
4. Write a New Resume
A new job search always calls for a new resume. After a layoff, pull out your resume and blow off the dust. It's time to write your ticket to a new job.
Whether you plan to search for the same type of role you had, or want to make a fresh start with a career change, learning how to write a resume that is current, attractive, and concise is critical to landing a new position.
Start with your most recent role, updating the skills you acquired and your most notable accomplishments. Wherever possible, include data in your resume to bring your accomplishments to life. Relevant numbers in your resume help quantify your achievements and make them jump off the page.
Employers want to see not only you past job responsibilities but the impact your work had on your last organization. Also, they want to know about the soft skills you possess that make you great at your job, so be sure to include these in your resume. Soft skills are increasingly important to employers, even in roles where they might not seem critical.
If you feel overwhelmed by the idea of updating your resume, use a professional resume builder. A builder helps take the guesswork out of how to word your resume, and provides attractive templates and spelling and grammar checks to ensure your document is free of errors.
5. Don't Forget the Cover Letter
Did you know that 45 percent of jobseekers skip writing cover letters altogether? While these jobseekers may believe the myth that cover letters aren't necessary, savvy jobseekers don't believe the hype.
Recruiters and hiring managers do use cover letters in the hiring process, often as a way of distinguishing between candidates with similar qualifications. In other words, if you and another candidate have held the same title at companies of similar prestige, a well-written cover letter can be the deciding factor in which of you gets the job interview.
Use your cover letter to pull out impressive accomplishments and to illuminate experiences that you've touched on in your resume. But remember that a cover letter is intended to complement and expand upon your resume, not recap it.
Since learning how to write a cover letter is so important, some jobseekers feel overwhelmed by the process, especially if they don't consider themselves good writers. In that case, check out a professional cover letter builder, which suggests the words and phrases that can help you catch the eye of a recruiter.
Remember, while losing your job is one of life's most significant stressors, research shows that most jobseekers find a new position within six weeks. So, get your ducks in a row by following these tips, and you'll be ahead of the curve.
