You Have Just Been Laid Off - Now What?
We are yet again, living in uncertain times. Only five years after the COVID-19 pandemic, we are in the midst of immense economic uncertainty due to the political volatility between the United States and many other countries.
As a Canadian residing in British Columbia, I am certainly feeling the daily pressures of the tariff wars between my country and the United States, from grocery prices to fiscal belt-tightening in all sectors.
Many organizations in both the private and public sectors are undergoing mass lay-offs and restructuring to adapt to this economic reality. Perhaps you have been impacted by this already, or are having sleepless nights worrying you might be next on the HR chopping block.
This article will provide a set of considerations to help alleviate some of the stress around a recent lay-off for those who find themselves suddenly unemployed.
For those of us who worry about our job security, this article will provide a road map in the event that we are caught in the next tide of restructurings.
Get Your Ducks in A Row
This may seem like obvious advice, but many of us - when in the immediate emotional aftermath of a sudden job loss - can often forget the basics.
As soon as you get the news, take the time to understand the terms of the lay-off by seeking answers to questions such as:
Are you being let go with or without cause? (This will impact your eligibility for government Employment Insurance (EI).)
Will you be receiving any severance? If so, how much and for how long?
When will your extended health and other benefits end?
What other supports is your employer providing as part of the lay off? (For example, some organizations have started offering career coaching as part of the severance package.)
This is also a good time to understand your own personal financial situation (e.g., talking to your spouse, family, and/or financial advisor about emergency funds, cash flow, and expenses) and any work visa implications.
Grieve and Process Sooner Rather Than Later
Once you have taken the steps to get your financial house in order, it's time to shift to the art of grieving.
Many of us identify strongly with our professional life and our self-esteem, for better or worse, is often tied to our careers. This is why a sudden lay-off can impact us in deep and profound ways beyond merely finances.
Many of us also have societal scripts and internalized stereotypes around work that show up depending on our gender (e.g., "men are providers"), culture (e.g., "we immigrated here and sacrificed so much for you"), age (e.g., "all my peers are so much further along in their careers than me; this will set me back even more"), and many others.
Think about what social scripts are showing up for you and talk it through with your trusted advisors, whether they are friends, family, mentors, a therapist, and/or a career coach.
Here are some steps you can take to grieve and process the job loss:
Actually make the time and space to feel the emotions: journal, talk with a trusted friend, go to therapy (especially if you still have extended mental health benefits through your former employer!), move your body, spend time with animals and in nature, go on a trip to get perspective (if you can financially afford it).
Be aware of the common emotions that may come up: many of us feel a mixture of shame, guilt, embarrassment, disappointment, anger, and frustration when we are suddenly out of a job. Be aware of how these emotions show up for you and be conscientious about coping with them in healthy ways.
Seek out career coaching: a career coach can help you process a job loss and support you through the practical aspects in ways that are different than a therapist. Ideally, you can access both (especially if both are offered in the severance package) at the same time to make advancements towards a new job and a more peaceful frame of mind.
Assess and Strategize Your Next Steps
When you have emerged from the initial haze of the lay off and have been supported through the grieving process, hopefully you can see that there is always opportunity in crisis.
You can then ask yourself the following questions:
Do you need or want a job right away, or can you afford to wait and job search with more intention?
What have you always wanted to do but never had a chance to try?
Who in your existing networks can you talk with to about new opportunities?
Be Your Own Best Advocate
Lastly, don't forget to be in your own corner as you rise from the ashes of your former job. When embarking on the job search process, remember to keep processing the emotions that come up and put the tools you learned in therapy or career coaching to good use.
Tell yourself that a new opportunity is potentially around every corner; every coffee chat can potentially lead you towards a new professional possibility.
As the saying goes, "luck is when opportunity meets preparation". Prepare for what you can so that when an opportunity arises, you can also rise to meet it.
Most of us, if we work long enough, will experience a sudden job loss for a variety of reasons, many outside of our control.
I experienced my first unexpected lay-off in 2016, after only one year of working in my first job after graduating from my Master's degree.
It was a very hard time and I definitely floundered for a while. I wish I had more guidance and supports during that time, which is why I wrote this article and also continue to support clients through my career coaching service for equity-deserving professionals. I hope it has been informative!
If you recently lost your job and would like to work with me to move forward in your career, please reach out. I offer a free, 20-minute introduction call to see if we would be a good fit.
If you are an organization that is considering a significant restructuring that includes a reduction in your staffing, please consider offering career coaching as part of the severance package.
If you would like to discuss how my services may align with your goals, send me a message and I would be happy to chat.
