This post provides a guide on what to do if you know a layoff is coming, if you have been laid off, and what helps after you have lost your job.
A layoff can be a traumatic and life-altering change. Sometimes, being laid off from work may come as a complete blindside. Or your company is planning to downsize, so a mass layoff is inevitable. However the situation presents itself, you can find yourself overcome with a fog of confusion and stress for the future.
When I was laid off in the Spring of 2020, I wish I had a simple guide to help me figure out what to do after being laid off from work. A guide to making sure I covered the proper steps towards a smooth transition from sudden unemployment.
So, here is the guide I wish I had after being laid off from work. Plus a few extra tips of how you can better situate yourself if you know a layoff is coming and ways on how to recover from this life-changing event.
What is covered in the post:
When you know a Layoff is Coming
I am a planner. I would appreciate a heads up if my job was going to be eliminated from a mass layoff. Not many people get this type of warning when it comes to being laid off from work. But if your company is planning to downsize the workforce and there are more than 100 employees, they need to provide a 60-day warning- it’s the law.
So, if I had time before my last day, I would start creating a “Career Receipts” Folder and immediately start building my personal brand online.
What is a “Career Receipts” folder?
Gathering documents of what you have worked on that don’t have any sensitive company information. You may need to re-write some of the information on a new document, but at least you still have access to information to refer back to.
Here are some ideas of what you can add to your “Career Receipts” folder:
- Reviews
- Presentations & Decks
- Company shout outs
A few things to remember, this is a digital folder that you can send to your personal email. And do not copy any information or materials that is against your company’s policies on disclosing information.
Building your Personal Brand Online
What is a personal brand? A personal brand is your professional reputation online. It’s a curated narrative you create by posting on social media platforms like LinkedIn.
I think LinkedIn is the best platform to build your personal brand online rather than Instagram or Facebook. On LinkedIn, you can follow like-minded people in your industry, create authority by publishing articles that interest you, and grow your professional network.
Start building a presence on LinkedIn as soon as possible. It can take time for the algorithm to start picking up on your posts to share them with more people. If you need some ideas on what to post, check out this article from the IN Academy.
What To Do When You Have Been Laid Off
You just received the news you have been laid off from work. And you can’t recall what your manager or the HR person was saying at the time. Your thoughts of anxiety, fear, and shame took over and now you can’t remember the details of the conversation.
No worries my friend, here is a simple check-list of the documents you need to help make this transition smoother:
1. Severance package- This is not required by law to provide an employee, unfortunately. If you are fortunate to receive a severance package, make sure to double-check the details and if there are requirements to receive the severance payout. For example, you might have to sign off your rights to pursue any legal actions against the company or there could be restrictions on publicly speaking poorly about the company.
2. Last Pay Check- Double check the date range of the issued check.
3. Payout (Vacation, Sick, or PTO Hours)- Depending on your State, an employer may have to payout unused hours. If your state doesn’t require companies to pay out unused hours, check your severance package. They may have included the hours and payout in the package details.
4. COBRA & Last Day of Coverage- By law, if your company has over 20 employees, they need to offer the Consolidated Omnibus Budget Reconciliation Act information (a.k.a COBRA) to continue on your current health care plan- however, payment of the continuous coverage is the responsibility of the employee. Double-check for the last day of health care coverage paid by your company.
5. Retirement Plan or 401K - Depending on the details of the retirement plan, but most likely the plan will not start to pay out until retirement age. For a 401K or profit share plan. You have options to:
- Stay on employer’s plan
- Move the funds to a new employer’s plan
- Move the funds to a self-directed retirement plan (a.k.a IRA account)
- Cash Out (there are taxes and penalties for an early withdrawal)
6. An official layoff notification- On the company’s letterhead. You may need this for proof of unemployment for benefits.
7. Letter of recommendation- You should ask your manager to help write a letter of recommendation. Request this from your personal email account, so it will make it easier for your manager to respond back directly to your inbox.
Can you negotiate your severance package? For a mass layoff, not likely, but it never hurts to ask.
What Helps After A Job Loss
This might sound strange (may not be a viable option for every person) but if you have the financial means, to take a week off to spend time recovering from the news.
Writing down your thoughts every morning for 10 mins before you start your day. This simple morning routine has helped me start my day with clarity and surprisingly more insight around my feelings around the job loss.
2. Reconnect to your passion hobby or activity- What sparks joy inside of you? Baking, painting, singing, or organizing your closet? Whatever the activity is it is time to re-engage with it to help bring a smile and some satisfaction back into your life. You deserve this time for yourself.
3. Learn one new thing- Learning a new subject, an activity, a language- anything that you never had the time to learn, now is the time. Taking action on this tip is a major confidence builder and a great speaking point, when you are ready to start interviewing.I hope this guide provides you with an easy check-off of what you can do for yourself before, during, and post-layoff. This moment may feel like a rejection, but start to think of it as a redirection for your life.
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