If the pandemic years proved anything, it was that unexpected job loss can happen to anyone, at any time. Even the best employees may be laid off or even let go.
Maybe you wonder, what should I do with my time until I find another job? Or should you include a job you were fired from on a resume? We’ll examine the answers to these questions and more below.
Types of Job Loss and How to Deal with Them
Job losses come in many forms, each requiring a different focus to cope with. First, let’s take a quick look at the common reasons for a job terminating, then we’ll move on to exploring coping mechanisms.
Medical Leave
Sometimes, you may need to leave a stressful workplace in order to renew your mental and emotional health. At other times, physical illness or injury may temporarily or permanently remove you from the workforce. In either of these situations, you should first focus on getting well and worry about the other steps only when your health has stabilized.
Layoffs
Layoffs may occur as a result of a lagging economy; when supply exceeds demand, companies may cut back on production and lay off workers. Layoffs can also result from labor union demands, overhiring, supply chain issues, natural disasters, or political upheaval.
Generally, the reasons for layoffs are out of your control. But you can put the time you’re laid off to good use by learning or building another income stream, as we will discuss below.
Downsizing or Restructuring
Similar to layoffs, companies may decide to downsize in response to economic pressures. The difference is that downsizing refers to the termination of a position.
Likewise, companies may restructure when they are bought out by other companies or when management changes. Some positions may be eliminated, or employees may be replaced by competing positions in the merger.
Termination
Personality conflicts, misconduct, or poor work performance can lead to job termination. This can be the most difficult type of job loss to deal with because of residual negative feelings.
But don’t worry – getting fired isn’t the final nail in your career’s coffin. HR professionals are well aware that people leave or are removed from their jobs regularly. According to the U.S. Bureau of Labor Statistics, older workers typically remain at a job for about 10 years, while younger workers stick with a job for three years or less, on average.
You should never be asked to reveal why you made a job change in your application. So instead of focusing on the negative, think about how what you learned and accomplished while there can propel your career forward.
Take Care of Yourself
All types of job loss can be stressful. You may experience feelings of inadequacy or fear about meeting your financial obligations. That’s normal. Just don’t let negative feelings take over. How?
Get plenty of rest, eat right, and exercise. Address any health concerns. Take a vacation – it doesn’t have to be an expensive one. But it may help to remove yourself from the daily grind to think deeply, evaluate where you are, and foment a plan for moving forward.
Try to shift your perspective to focus on future growth and opportunities. If you find yourself crippled by grief, consider seeking professional help. Neither your career nor your job loss define you.
Identify Areas for Growth
As mentioned above, job loss provides a good time for reflection. Evaluate your skills and attitudes. Do so honestly. Look for areas that are in need of improvement.
Next, brainstorm ways that you can expand your knowledge, skills, or experiences. This may involve taking some form of training, doing research, or practicing a hands-on skill. You can use your extra time wisely by learning and growing until you find your next job.
Turn Setbacks into Opportunities
Have you ever longed for a change of pace? Perhaps you’ve regretted a choice that propelled you down one career path instead of another. Would you like to be your own boss? Or maybe you have developed an interest that fuels your passion. Job loss can be an opportunity for a career change – especially if you weren’t willing to take the leap on your own.
Explore all your options. Learn and grow as discussed above, experimenting with possible new paths. Take that coding class, open that Etsy store, or whatever dream you’ve been contemplating.
You may pursue several potential career avenues to see which one will work best for you. You can use the 80/20 rule to gauge where you should focus your efforts – basically, where do you get the best return for the effort you put in? Remember, salary isn’t the only return. Sometimes job satisfaction or work/life balance can be just as important.
Key Takeaways
You are likely to experience job loss at some point during your career. Whether you’re fired, laid off, or taking personal leave, you can use the time and freedom to learn, grow, and explore your passions and curiosities. Don’t forget to take care of your mental and physical health in the process.
Equipped with these tips, you can recover from a job loss, boost your confidence, and take your career to even greater heights.