Navigating Job Instability: What to Do Next

This week, career and job instability has been on my mind. From a friend messaging me about an unexpected layoff to news of a tough job market and ongoing debates about return to office policies it feels like we're surrounded by uncertainty.

If your salary is your main source of income, the thought of losing it unexpectedly is a real fear. On one hand, we can’t let it consume us, but on the other, when your ability to eat, live, and provide is at stake, it’s impossible to ignore.

So, in this newsletter, I want to talk about what to do if your employment is at risk.

1. If You Get Laid Off, Understand Your Immediate Next Steps

Start by figuring out the unemployment process in your state. Each state has different rules, waiting periods, and eligibility criteria. The sooner you apply, the sooner you can access benefits if you are eligible.

2. Take a Breath—Losing a Job Is a Life Transition

Whether you were planning to leave or not, leaving a job can feel like a breakup. It’s an adjustment, and for those who are risk-averse, it can be especially scary. While job loss can lead to new opportunities, in the moment, it can feel painful. Give yourself space to process.

3. Treat Your Job Search Like a Full-Time Job

This advice comes from a friend in HR: Don’t hate the messenger, but job hunting requires focused effort. If you look back at your week and realize you’ve only talked to one person and applied for one job, were you stuck in your thoughts, replaying past events, or fearing rejection? Track your progress, stay active, and keep moving forward.

4. Shift Your Mindset—You’re Looking for Offers, Not Just a Job

In Designing Your Life, Bill Burnett and Dave Evans emphasize that there is no perfect job—you are never looking for just a job; you are looking for offers. Chapters 7 and 8 discuss how to leverage, but not solely rely on, the internet to create multiple opportunities instead of forcing yourself into imperfect job descriptions.

5. If You Have No Savings, You Need Income ASAP

This may be tough to hear, but if you don’t have savings to sustain you, finding any source of income even if it’s beneath your skills might be necessary to keep your household running. High paying jobs often have long hiring cycles, and I’ve heard too many stories of people being unemployed for six months to over a year. Taking temporary work is the responsible choice over going into debt. It’s only for a season.

6. Review Your Budget & Adjust Your Expenses

Your spending habits may need to shift in this season. Do you need to eat out as much when you could cook at home? Will you still be spending on work lunches? Your gas expenses might decrease if you’re no longer commuting, but you might have new costs like upgrading LinkedIn, upskilling through courses, or working with a career coach. Take a hard look at your budget and adjust it to fit your current reality. This is a key step in maintaining stability during uncertainty.

Financial Security Gives You Choices

The financial cushion you build before a job loss makes all the difference. When money isn’t an immediate concern, you have the ability to find a role that aligns with your skills and values rather than taking the first offer out of desperation. Unfortunately, negotiating from a place of financial stress rarely leads to good outcomes. I’ve seen too many people deplete their savings or go into debt during these seasons. Let’s plan so that doesn’t happen to you.

If you’re in this situation, know that you’re not alone. And if you’re not in this season yet, now is the time to prepare.

Have you experienced job instability before? What helped you navigate it? Comment and let me know. I read every response.

Until next time,

Sandra Park

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P.S. I was interviewed on a podcast about my net worth journey and paying off my house. Check it out here.