So...You're Getting Fired! Now What?

The writing is on the wall. You've read the tea leaves...You're going to lose your job. It's happened to me. It's happened to you. It can happen to any of us.

In this article, we'll discuss 5 ways you can prepare for future job loss now and put you the in the best position for your next opportunity.

1. Prepare Your Finances

The prospect of losing your job can be both emotionally and financially devastating. In order to weather a storm, it's important to be mentally and financially prepared. Getting your finances in order is an essential part of the process.

Before you find yourself in the midst of an unexpected job loss, you should create an accurate budget. Yep, I said the b-word - budget. This budget should include all of your necessary living expenses — housing, groceries, utilities and insurance — as well as any fixed expenses, such as a car payment. Having a budget will enable you to assess your financial situation and determine how much money you will need to get by until you find a new job.

You should also create an emergency fund to provide a cushion during a period of unemployment. Many financial experts recommend having a fund equivalent to three to six months of living expenses. This is especially important for those in volatile industries, such as retail and food service, who may experience periods of unemployment.

If you are unable to create a large emergency fund, you should look into other options to supplement your income. These can include taking part-time or contract work, selling unwanted possessions, or even a side hustle.

Once you’ve established an emergency fund, you should make sure you have adequate health insurance coverage. If you rely on an employer-sponsored plan, you may be eligible for coverage under COBRA. It’s important to know what your health insurance options are so that you’re not stuck covering large medical bills.

Preparing for the possibility of unemployment can be difficult, but it’s essential to protect your finances. By taking the time to create a budget, establish an emergency fund, and research your health insurance options, you can help ensure that you’re prepared when the unexpected happens.

2. Anticipating Getting Fired

Getting fired is a difficult situation to face, but if you can anticipate it, you can prepare for it. Anticipating getting fired will give you time to plan your next step, instead of being caught off guard.

The first step in anticipating getting fired is to recognize the signs that you may be on the chopping block. Common indicators that you’re at risk of getting fired include any (1) sudden changes in your job duties, a (2) decrease in the amount of responsibility or authority you have in the workplace, (3) little or no feedback from your manager, or a (4) sudden decrease in your engagement with work-related activities.

Additionally, be sure to pay attention to any shifts in your boss’s behavior towards you and watch out for any signs of your colleagues being treated differently. If you feel like you’re being targeted for termination, it may be time to think about preparing for the worst.

If you’re already feeling the pressure of a potential termination, it’s important to be proactive and start taking steps to protect yourself. First, make sure you’re familiar with the company’s policies on termination. Knowing your employer’s legal rights can make it easier to know what to expect and prepare for any eventualities. Additionally, start to document everything. Make sure you carefully keep track of all your work and any conversations or emails with your employer that may be relevant to your role or your termination. This will help you protect yourself and your rights if things escalate.

Finally, if you anticipate getting fired, start to build up your resources. Networking is a great way to stay connected with possible career opportunities. Additionally, start to look for other jobs, research your options and create a plan for your next move. This will make the transition to a new job much easier if you’re suddenly out of a job.

Anticipating getting fired takes preparation, but it can make all the difference when it comes to protecting yourself in a difficult situation. Taking the time to recognize the signs, prepare your resources, and build your network can help you move forward and find new opportunities after a termination.

3. Developing A New Plan Of Action

Once you realize that there's a possibility that you'll be fired, you need to start developing a new plan of action. This will be important for getting back into the swing of things and pursuing new opportunities.

The first step is to take stock of your current situation. Consider what assets you have at your disposal, and make a list of your skills, qualifications, and contacts. This is important for understanding what you can offer potential employers.

Next, start researching potential employment opportunities. Look for job postings online and inquire with contacts you may have in the industry. Don’t be afraid to reach out to former colleagues or supervisors for help.

When you have identified some good leads, create a resume and cover letter that highlights your qualifications and experience. You may also want to create a portfolio of your work to showcase your capabilities.

Once you have your resume and portfolio ready, begin applying for jobs. You may also want to attend local job fairs and network with employers in the industry. This is a great way to build relationships and make yourself known in the community.

If you have been applying for a while with no success, it may be time to consider changing tactics. You may want to consider freelancing or consulting. There are a variety of ways to make money outside of a traditional job and these could be great options for you.

In any case, it is important to stay positive and keep an open mind about potential opportunities. If you are worried that you will be fired, it can be easy to feel defeated. But by developing a new plan of action and taking advantage of the resources you have at your disposal, you can find success.

4. How to handle the emotions of being fired

Depending on your circumstances, the possibility of being fired may leave you feeling shocked, angry, sad, afraid, or any combination of these emotions. Keep in mind that all of these feelings are valid, and it’s important to give yourself time to process them. Here are 4 steps to help.

1. Mindful Breathing

The first step to handling your emotions is to take a deep breath. You may have to do this each time you think about the possibility. This will help you to take a step back from the situation and allow your brain and body the process what's happening. Allow yourself to feel all of the intense emotions you’re experiencing, but also try to stay present in the moment.

2. Practice Self-Care

The second step is to practice self-care. It’s important to take care of yourself and to give yourself a pat on the back for any effort you put in during your job. This could include going for a walk, writing in a journal, meditating, or even spending time with friends and family. It’s also important to remember that you may need to take some time off of work to focus on your mental health.

3. Positive Thinking

The third step is to think positively. It’s easy to let negative thoughts take over, but it’s important to try to stay positive during this time. Remind yourself that this isn’t an ending, the is the start of something new and better.

4. Use Your Support System

Finally, it’s important to reach out to your support system and tell them what happened. Let them know how you’re feeling, and you may find that talking through your emotions can help you to come to terms with what happened.

Being fired can be a difficult experience, but it’s important to try to stay positive and focus on taking care of yourself during this time. Give yourself time to process, and you may find that you come out of this experience feeling more resilient and prepared for the future.

5. Looking for new opportunities

When you find out you’re going to get fired, it can be a difficult and confusing time in your life. Understanding what your options are and how to prepare for them is key. Looking for new opportunities as soon as you can help.

The first step is to start networking. Reach out to all your contacts for potential new roles and be sure to let them know about your current situation. It’s best to begin building these relationships early on. That way you have a track record and personal brand that proceeds you. Then, express your interest and be sure to thank them for their time.

It’s also important to update your resume, LinkedIn profile, and any other online profiles to make sure they accurately reflect your experience and accomplishments. It helps to add any new skills, awards, and activities as they happen. You likely won't remember them when you're caught in the emotion of being fired.

After updating your profile and resume, you can start applying for jobs. It can be a challenging task, so plan ahead before you begin. Make your job search easier by breaking it down into smaller tasks such as researching companies, applying for jobs, and tracking your progress. Don’t be afraid to reach out to potential employers directly as well as apply to job postings, as this can give you a competitive edge.

You should also be sure to take advantage of any networking events in your area, as this can be a great way to meet potential employers and learn more about the job market. Finally, don’t forget to take care of yourself during this time. It can be a stressful and emotional situation, so it’s important to set aside time for yourself to relax and recharge.

#management #layoffs #ileadwithlove