At any time, you can become suddenly unemployed. Your world can feel like it has turned upside down and it makes your head spin trying to figure out what to do first. You need two things: information and a plan.
When businesses make decisions to ensure their longevity, the impact is felt by all segments of the market and economy, employees, suppliers, landlords, customers, advertisers, service providers, etc. Your personal lifestyle and future living expenses will likely become an urgent matter for consideration, followed closely by what to do about finding work and a compatible career path.
How you approach rectifying your situation will be dictated by whether you take a strategy that addresses the condition as temporary or permanent.
It is monumentally important that you take stock of available resources:
PERSONAL FINANCES – Get a clear picture of what is essential. Examine your lifestyle to determine which expenses can be reduced and adjusted. Contact your creditors and mortgage company to make special arrangements. Review any available savings as a backup but use that as a last resort.
COMPANY RESOURCES – Your company will provide information about entitled benefits; health coverage, severance pay, accrued vacation pay, retirement account, etc.
GOVERNMENT BENEFITS – Your state operates an unemployment insurance system. Those eligible benefits may be available for a while. Submit your claim as soon as you can to confirm your eligibility and benefit level. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) also provide supplemental unemployment compensation due to the impact of the COVID-19 pandemic.
Job searching is a full-time job, create a daily schedule, and gather the tools you need. Explore all options, some may be temporary while working on finding a permanent position. Focusing on enhancing career skills and personal development will be beneficial additions to your resume. Get prepared for those future interviews.
While this may be a stressful time, pay attention to your physical and mental health. Look for positive outlets and communicate with your family, friends, and colleagues. The economy will be doing a lot of shifting before it settles down. Know that you are not alone.
Gather the information you need and craft your survival plan. Download this free report, You can Survive Unemployment https://bit.ly/2VjPw2e.
I’m happy to have a conversation with you about your resume, interview preparation, or career strategies. I can be reached at [email protected]