The possibility of being laid off from a job is understandably scary. Jobs give us a sense of security and even a sense of identity. However, many people are currently facing this very real possibility. So that you are not caught off guard, we have assembled these six specific ways to prepare for a layoff that are relatively easy to implement.
- Don’t panic: We all know that being laid off from a job can be traumatic. However, it is not the end of the world. Take a deep breath, don’t panic and remember that things will get better eventually.
- Build your emergency fund: If you are facing an imminent layoff you should be channeling every penny that you can into your emergency fund. Most experts suggest that the fund be able to cover between three to six months of your expenses including your rent or mortgage.
- Update your resume: It is easy to neglect your resume if you have been at a single job for a while However, you should always keep your resume up to date. Doing so will help you be able to spot new career opportunities and will save you the trouble of having to do so once your new job search has begun.
- Contact your creditors: If you know that you are about to be laid off, it may be a good idea to contact your creditors to let them know. They may be able to arrange a special payment plan that can help you until you are back on your feet again as most creditors would rather receive some payment rather than none.
- Put a freeze on nonessential spending: Immediately cut anything out of your budget that isn’t absolutely necessary. Areas where most of us can save include entertainment, clothing and subscriptions and club memberships.
- Know (and use) your benefits: Of course, there are state and federal resources that people who are laid off can use. Familiarize yourself with unemployment benefits as well as the benefits you may still be able to use from your employer.
Agencies like ours have many resources and network with professionals who are hiring even during times of relatively high unemployment. Our employment agency in NYC, keeps these lines of communications open so that we can serve you and our clients. We are the best staffing firm in NYC and are committed to helping you find an ideal employment opportunity.