How to Be Prepared for Unexpected Job Loss

Losing your job can be a shocking and unpleasant experience that could happen to anybody, and it should not be seen as the end of the world, especially if one is prepared in advance for what’s to come. Probably the most important thing to do when you suddenly find yourself unemployed is to keep your composure, overcome the natural feeling of anxiousness and prepare yourself for what follows next for you and your professional life. If one prepares in advance for such times, it could be easier for you to get back on your feet after the inevitable mess.

Save for at Least Six Months

Of course, the biggest change that comes when one is unexpectedly without work is the lack of a steady source of income. So when that happens, the biggest problem for the newly unemployed is paying the upcoming bills and providing for everything needed. The best way to avoid this is to try to save enough money on the side so you could live peacefully for at least a couple of months, so it wouldn’t be such a game changer if you get laid off without a notice. Having enough money set aside for rainy days enables one to search for a new workplace more peacefully and reduces the stress of things paying the bills and covering other expenses greatly.

Always Keep an Eye on the Job Market

Another good approach could be if you try to always be up to date with the newest trends and the most popular positions that show up on the job market – even if you’re still comfortably employed. If you know what qualities and skills are currently valued on the market as a whole, then you can prepare by taking the time to learn and develop your abilities further. For example, you can take up an additional course or training in your free time that could raise your value during your next job search. Even if you are not in a very good financial situation at the moment, courses don’t have to be expensive in order to achieve results – nowadays you can look up for free or low-cost tutorials on almost every topic over the Internet. 

Keep Your CV Polished

One of the most important aspects when applying for a new job is how you present yourself to your potential new employers. While it is true that you need to change your resume a little bit for every different position you apply for, it is probably a good idea to have an up to date basic CV that covers all of your essential skills. Remember to keep track of every new responsibility, promotion or newly acquired skills so it is easier for you to update your resume regularly, so you don’t find yourself in a situation where you need to organize everything in a hurry.

Know Your Emergency Options

Even though some people regard asking others for help as a sign of weakness or against their pride, this is not always a negative thing. For example if you know someone from your professional contacts pool that can make a reference for you in a new company, you can significantly speed up the process of finding a new job. It is always a good idea to try to be more sociable and expand your network with new acquaintances whenever possible therefore it could be vital to stay in touch with the company’s politics and professional events. Taking out a loan is also not a bad option if you know you can pay it back without any problems, and it can sometimes make all the difference in a challenging situations.

Watch Out for Internal Signs

Sometimes the unpleasant surprise of getting laid off could be prevented if one learns to look closely what is happening at the workplace. Try to be more involved in the internal politics of your current company and be informed about the news surrounding your office. Learn to watch out for signs like big acquisitions or the performance of your company on the stock market. Other signs of a possible decline could be if your firm is suffering from poor media image in the news, or a lot of workers are being laid off. While it’s not necessarily the end, you should definitely consider looking for a new job at that point.

However, if you do happen to be laid off, do not forget that this is not necessarily your fault. Sometimes staff cuts have nothing to do with the performance or the behaviour of the people who are let go as companies often reduce the number of their employees when there is a market or economic crisis, so do not rush to put the blame on yourself in such situations. Of course, dealing with this change could be a lot easier if you try to stay prepared. After all, it could prove risky to assume that your position is safe, so always try to keep watching for telltale signs.