The First 3 Steps You Should Take After Losing Your Job

Losing your job is tough. No matter the circumstances, it is a major life change that can take an emotional and financial toll on yourself. There are many reasons and factors as to why you may have lost your job. For example, your company may have downsized, your position could have been eliminated, a budget cut could have led to massive lay-offs, or termination may have occurred. Regardless of the reason, the aftershock of this event may make you feel like your world has been flipped upside down.

After any big change, it is natural to take a few days to process everything. This reaction is healthy, normal, and important. You do, however, have to get back to reality and pay the bills. It can be difficult to identify where you should begin in order to successfully take on this challenge. Here are the first three steps you should take after losing your job.

Analyze Your Finances

The first step is to focus on your finances.  Start by creating a budget. With the loss of your job, it is essential to be conservative and cut out excess spending habits. Little things such as ordering takeout or buying a $5 coffee should be put on the back burner until you have a steady income again. Evaluating your finances, creating a budget, analyzing where you spend the most, and setting limits will help you recognize how much time you have until you need to find another job. While evaluating your budget, you may even notice you have more time than expected to spend on finding the next job that’s right for you. A solid financial analysis can help you realize the flexibility you have regarding your next steps. This breakdown will help relieve the stress and pressure of finding a job right away and worrying about money.

Assess Why You Lost Your Job

Secondly, you should assess why you lost your job. This is a significant step in order to figure out if there are any weaknesses in your performance or work style. If you were let go over budget cuts or downsizing, try to develop a new demanded skill that would make you more valuable to employers. If you bring a unique or important skill to a company, you have an opportunity to become an asset that they cannot lose. Be sure to highlight your skills and experiences when applying to new jobs, emphasize what you are good at but also what you aren’t so good at and the steps you took to fix your downfalls.

Identify Future Goals

What type of job do you wish to have? Do you want to work a nine to five or a nontraditional job? While answering these questions may seem challenging after the emotional toll of a lost position, it can lead you on the right path to your next employment opportunity. If you need help establishing your career goals, consider contacting a staffing agency. At JOHNLEONARD, we offer temporary employment opportunities that help you network and build up your resume all while you get to try out different industries and positions. In addition to contacting an agency, evaluating and setting existing and future goals will allow you to focus on your personal career development, wants and needs. Identifying these goals will help your work performance and overall happiness in your future position.

The First 3 Steps You Should Take After Losing Your Job 1While the loss of a job is never easy, by following these three steps you will be able to get back on your feet and begin searching for a new means of employment. By focusing on your finances, assessing why you lost your job and identifying your future goals, you will be able to determine the urgency of employment, any necessary skill sets you need to improve upon, and what position or organization will be the best fit for your future.


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