How To Prepare For A Possible Job Loss

I have a few questions for you.

What do you do when you have that gut feeling of impending doom about your job?

Is the writing on the wall?

Are you about to be laid off or fired?

Is the company going under?

Or is it going to come out of the blue that you no longer have a job? Was that too many questions? Oh sorry, that was another one!

If you have these feelings then now is the time to take action in order to soften the blow. You need to start today to get your affairs in order. If push-comes-to-shove as they say, you will be in a much better position than your co-workers. If you follow these steps and nothing happens you will still be much better off than you are now. So here is a list of 4 things I’ve found to be helpful. 1. Update your CV

Is your CV up to date? If you have not updated it in a few years, now is the time. You may want to consider hiring a professional to do it for you. You need to put your best foot forward. You want to be able to start sending it out before or right after you become unemployed. Searching for a new job can be a full-time job by itself.

2. Update your skills

While you are still working may be a good time to take a few classes and update your skills or start training for a new career. You may want to sign up with an employment agency now so they can place you later. Advantages of employment agencies are they pay well, they find a job for you, you won’t be competing for a position with dozens of others and you can usually start immediately, especially if it's on a temporary contract.

3: Start widening your networking

Ask everyone you know if they know of any job opportunities. If you have not lost your job yet, explain to them you may be laid off and will be looking for a new job. Maybe they can give you a contact name within their company. Get someone to send your CV to let others know if they have any openings in the future and you would like to be considered. Start the process now. It is not what you know, it is who you know. 4. Get your finances in order

This is always easier said than done. If you are like most people you may already be living pay-check to pay-check and there’s nothing left over for fun or unexpected spending. If you become unemployed you need as much cash as possible to carry you through. Most experts recommend 3-6 months of cash to meet your living needs. What if you can’t find a job for 8 months or a year? Gather all your cash reserves or sources for cash. Stash as much as possible to meet your needs. If you did lose your job, the next day you should start filling out any paperwork for unemployment benefits you may qualify for. You will get through this, it will just take time. Start taking these important steps today and you will be far better prepared for tomorrow.

If its the first time you’re visiting my blog, you may want to read my post about the 5 advantages of being furloughed. I was speaking from first-hand experience because I was furloughed from my current job a few months back so I’m very much aware of what it's like to be ‘out of work’. As I’ve mentioned above, start using the time to really invest in yourself and get your mojo back in case you’ve lost confidence in yourself or in your abilities.

There are times when prayer is required to guide and inspire us but there’s also a time for us to take bold actions towards what we want our lives to look like. The situations that we find ourselves in may not be our own fault but we can surely adjust our attitude towards it and be willing to do whatever it takes to change our own story.

Until next time.