Navigating a Layoff Like a Pro

Experiencing an unexpected layoff can feel overwhelming, especially during the holiday season. Losing a job—whether due to a “restructuring” or a shift in the company’s priorities—is undeniably life-altering. I've experienced this firsthand and have watched family, friends, and colleagues navigate the same challenge. While the initial blow can leave you feeling blindsided, it’s also an opportunity to regroup and refocus. Like in sports, setbacks often set the stage for comebacks, even when they happen at the least convenient time. This period in between jobs can be a chance to stabilize your finances, focus on your mental health, and chart your next career move. Below are some actionable steps to help you or someone you know navigate this uncertain yet transformative time.

10 Steps to Take After a Layoff

1. Confirm Your Severance Package Details. If your employer offers severance, this can be a crucial bridge. Review how much you’re eligible for, when you’ll receive it, and whether benefits like healthcare will continue temporarily. Just like negotiating a sports contract, don’t hesitate to ask for better terms, especially if you’ve had a long tenure at your job or held a key role.

2. File for Unemployment Benefits. Unemployment insurance can be a financial lifeline. File with your state’s unemployment office immediately to account for potential waiting periods. Treat this step like preparing for the off-season—securing resources now ensures stability while you regroup.

3. Review and Trim Your Budget. Think of this as a timeout to adjust your game plan. Analyze your expenses and focus on essentials: rent, food, utilities, and transportation. Trim non-essential spending like subscriptions, dining out, or luxury items. Staying disciplined financially mirrors the focus you bring to training or preparing for competition.

4. Explore Health Insurance Options. If employer-sponsored insurance ends, explore COBRA or more affordable marketplace options on Healthcare.gov. Losing a job qualifies as a “life event,” so take advantage of special enrollment periods. Protecting your health is as important as protecting your career prospects.

5. Prioritize Emergency Savings for Essentials. If you’ve built an emergency fund, now is the time to use it strategically. Cover key expenses while keeping discretionary spending minimal. This is your financial defense—preserve resources for the essentials.

6. Consider Side Gigs or Freelance Work. Much like athletes diversifying their skills after sports, consider how your talents translate to freelance or gig work. Platforms like Upwork and Fiverr, or leveraging your network, can provide income while you plan your next big move.

7. Update and Activate Your LinkedIn and Network. Your network is your team. Update your LinkedIn profile and share that you’re open to opportunities. Reach out to former colleagues, mentors, and contacts. In sports and business, opportunities often come from relationships—don’t hesitate to ask for advice or leads.

8. Use Your Free Time to Build New Skills. Whether it’s earning certifications or learning something new, this is your chance to upskill. Just like an athlete trains during the off-season, enhancing your expertise can make you more competitive in the job market. Platforms like LinkedIn Learning are great starting points.

9. Practice Mindfulness and Maintain a Routine. Staying mentally tough is key. Build a daily routine with physical activity, meals, and time for hobbies or meditation. Structure and focus can help you stay resilient during uncertain times.

10. Remember Your Value—Stay Positive. Athletes know that one loss doesn’t define a season. Similarly, a layoff doesn’t define your career. Reflect on your achievements, update your resume, and stay confident in your abilities. Layoffs often result from external circumstances, not personal shortcomings.

Whether you're an athlete transitioning from sports or a professional rebuilding after a layoff, these steps can help you regroup and refocus. Remember: every setback is an opportunity to rewrite your playbook and come back stronger.

Have you faced a layoff or career pivot? I’d love to hear how you navigated it—drop your insights below or send me a message.