Retrenchment: What To Do When You Get Laid Off

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In this day and age, job security is not always guaranteed. One minute you are employed and the other, you are not. In all honesty, it happens to the best of us. Getting laid off can be as depressing as it is embarrassing. One is often flooded with a bunch of emotions at a and sadly at that moment an time as your employer talks to you, letting those emotions free might not be a good idea. Getting laid off can spark massive confusion and you have to be smart about your next steps so that you bounce right back. We had given you tips about Rebounding after Retrenchment. Here are more tips.

 

Retrenchment. Image from http://www.connectnigeria.com/articles/2016/09/3-things-know-retrenchment/

 

Do not burn any Bridges

Unless you have concrete grounds for illegal termination, avoid hostile confrontation with your employer. No matter how angry or disappointed you feel restrain yourself to avoid further consequences. If your employer has made up his mind to let you go, talking to him or yelling at him will definitely not make him change his mind. Being rude or uncouth can ruin your reputation which may end up jeopardizing your career in the long run.

Line up your references

Before you leave, ask your employer for a recommendation letter. If he declines, you can ask a co-worker or a senior employee in the organization to write it for you. This is one of the reasons why it is important not to burn any bridges. These letters work well along your resume and evidence your work experience. So burning your bridges could mean ruining your future work prospects.

Assess your financial Situation

Over the next couple of days, assess where you stand financially. Calculate your debt, your expenses and find out how much savings you have left. The idea is to figure out how long you can realistically survive without a job. At this point, it is important to plan a budget and ensure you stick to it. You do not have the luxury of overspending. Accessing your status will also give you the average period of time you have to look for another job.

Evaluate your career choices

Believe it or not, this can be the best thing that has ever happened to you. Getting laid off allows you to take some time off (if this is possible). Utilize this time figuring out where you want to be in the next 5-10 years. Is the career path you are ongoing to help you get there? Are you still happy with what you are doing? Are there any other career options that are viable for me? These are among the questions you should ask yourself before you jump into another job.

 

Getting fired. Image from http://www.humanresourcesonline.net/bosses-singapore-now-need-know-retrenching-staff/

Look into self-employment

Before you think of jumping back into the saddle, think about taking up self-employment in your area of expertise or even simply doing various businesses. Do thorough research before spending any money since money is a scarce commodity then. You can even send out proposals for donors if you feel your idea is feasible.

Apply for other jobs

After taking some time off and getting all your ducks in a row, it is time to get down to business. Ensure that you have the documents required then start putting in feelers for different jobs. Use the connections you may have accumulated you over time to get some insider information about open positions in the organization. Do not forget to update your resume and other documents before you send them out. Join self-help groups and associations that will allow you to connect with other people. You never know, these interactions can lead to job prospects.

Here are 11 life hacks for people going through tough financial situations

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