Massive layoffs are sweeping the nation right now, specifically in the tech industry. In a recent survey by ResumeBuilder, 61% of business leaders in the software industry say their organizations will likely have layoffs this year. Most recently, layoffs are seeping into other industries, and it is predicted they will continue throughout the year as organizations restructure and cut costs during economic downtown.
As companies look for ways to reduce operating costs, one of the first things they do is eliminate jobs. It is common to feel like you were not good enough to stay employed at your last job, but that is not true in most cases and most recently. Common reasons for people being laid off can vary, but some of the more relevant reasons include:
- Inflation and economic downturn
- Supply-chain issues
- Decreased operation
- Company relocation
If you have been laid off, you most likely have gone into sudden panic mode. Out of nowhere, you have all this extra time on your hands. How you spend that time and what you will do with it is up to you. Being laid off can significantly impact one’s emotional, psychological, and physical well-being. If you feel overwhelmed, shameful, and burned out, you are not alone; unfortunately, this is the reality for so many right now. Follow the tips below to keep positive and motivated as you move forward.
- Obtain Proof of Your Layoff. The first thing to do is get proof of your layoff; this can be done in a letter or an email from Human Resources. If you are not offered some form of proof, it is important that you ask for one. This crucial piece of evidence shows that you were not fired from the company and that how you individually performed your job was not a factor in why you were let go. Remember, the difference between being laid off versus getting fired is that a layoff is the fault of an employer, while a firing occurs because of the employee’s fault.
- Tie-Up Loose Ends. As much as you might not want to step back into the office or talk to the employer who laid you off, it is essential that you tie up all loose ends before leaving. Be sure to ask about severance pay, your last paycheck, unused vacation/sick pay, 401K or pension plans, health insurance status, and options. Also, you should request a letter of recommendation when you begin your job search. Once you have done all these things, you should file for unemployment. If you have been laid off, you can collect unemployment insurance benefits.
- Process the Layoff and Put Yourself Out There. When you feel ready and have had time to reflect on being laid off, start your job search. Your action plan should include updating your resume and LinkedIn profile, including your previous position, establishing what you want from your next role (ideal industry, location, benefits, salary), and creating a targeted list of desired positions and companies you want to apply to. If you feel overwhelmed during the job search process, utilize JOHNLEONARD’s customized Job Search Tracker to record jobs you’ve applied to, organizations you’re interested in, conversations with an employer, or any other type of communication that needs to be coordinated.
Being laid off for the first time can be very stressful and take a toll on your self-esteem, but if you take a step back and evaluate and process the situation, you will eventually find a new and exciting opportunity. In fact, despite market volatility, companies across the US plan to increase hiring in the first half of 2023, according to a survey released by Robert Half International Inc. The important thing to know is that the labor market remains strong, and opportunities and resources exist for you. You will bounce back!
If you have recently been impacted by a layoff, contact a JOHNLEONARD Staffing Consultant today. By carefully listening to your needs, we tap into our resources and bring new opportunities to light. We offer employment opportunities in all job categories throughout various sectors, including Legal, Human Resources, Accounting/Finance, Not-for-profit, and more. Call 617-423-6800 or email email@example.com to learn more.