The sudden loss of a job is a body blow, but life and financial obligations don鈥檛
stop because you鈥檙e unemployed. How do you respond while still reeling from the impact?
Simple. Be indomitable. The Online Etymology Dictionary says 鈥渋ndomitable鈥� means 鈥渦nyielding,
persistent, resolute.鈥� Per this blog and per your finances and employment, the 鈥渨hat鈥�
鈥� 鈥�You lost your job. Now what?鈥� 鈥� is to be unyielding, persistent, and resolute in bringing clarity to your circumstances
and maximizing the return on your job-hunting skills, strategy, and tactics.
First, It鈥檚 Time for Clarity
You need to know where you stand to determine where you鈥檙e going.
Were you furloughed? Fired? Laid off? makes a difference when it comes to financial assistance. It depends on whether:
You were fired. In most cases, you won鈥檛 be eligible for unemployment benefits, but there are . For instance, if you were fired for refusing work under dangerous circumstances (and can prove it), you probably can get benefits.
You quit. You won鈥檛 be able to get benefits unless you can prove that you left for safety or health reasons. For instance, the job exposed you to the coronavirus without adequate safety precautions.
You were furloughed or laid off. Furloughed employees often retain health care benefits. In either case, you鈥檒l be eligible for unemployment benefits and for extension of health insurance coverage under COBRA (more on that later). Basically, if you鈥檙e sidelined through no fault of your own, you鈥檒l be eligible.
To be clear:
- Being furloughed means you鈥檙e still an employee, but you aren鈥檛 being paid or aren鈥檛 receiving full pay. Employee benefits such as health insurance typically remain active, but the terms and extent of the benefits may be affected, depending on laws in your state. Another downside: If the employer doesn鈥檛 drop health benefits, you still have to cover the cost of health insurance that was being deducted from your paycheck.
- Being laid off means losing the job and benefits, though there鈥檚 a chance you鈥檒l be rehired.
- Laws governing unemployment benefits, including the amount received, can vary by state.
- Severance pay typically is for people who are fired or laid off, but it鈥檚 iffy. Your
employer has a lot of discretion, according to in The Muse.
Second, Regain Your Balance
There鈥檚 a lot of empirical data on the psychological effects of losing a job. in a story headlined 鈥淯nemployment during coronavirus: The psychology of job loss.鈥� Here are the BBC bullet points on processing the loss:
- For some, the event is on par emotionally with losing a loved one.
- Emotions can match the trajectory of the grief cycle, 鈥渇rom shock and denial, through to anger and bargaining, and eventually to acceptance and hope.鈥�
- Unusual circumstances such as job losses due to the Great Recession or the coronavirus provide a scapegoat, which can reduce guilt and self-deprecation.
- The key under any circumstances is to recognize what you can and can鈥檛 control and
focus on what you can affect.
Finally, Think Strategically 鈥� and Execute
Unless you鈥檙e independently wealthy or old enough for Social Security benefits, you
need to start a job hunt. There are other unemployment-related issues to address,
too, so we鈥檒l tackle those first.
Health Care
If your circumstances have ended your insurance coverage, you have options. says you can:
- Shop for an affordable under the Affordable Care Act, or Obamacare.
- Apply for Medicaid.
- Apply for the Children鈥檚 Health Insurance Program (CHIP), which covers children and, sometimes, pregnant women in families unable to afford private insurance but too well off to qualify for Medicaid.
- Use the Consolidated Omnibus Budget Reconciliation Act (COBRA) to continue coverage under your employer鈥檚 plan 鈥渇or limited periods of time under certain circumstances such as voluntary or involuntary job loss, reduction in the hours worked, transition between jobs, death, divorce, and other life events.鈥� This can be costly 鈥� up to 102 percent of the plan鈥檚 cost.
If these options don鈥檛 work for you, consider turning to for low-cost care.
Sitting it out because your job is coming back? Unemployment benefits only flow if
you鈥檙e job hunting, though there are exceptions in most states for people axed under
circumstances such as a pandemic or idled by furloughs.
Unemployment Benefits
Unemployment insurance is a federal-state program administered by states. The enrollment process and amount paid depend on each state. If you lost your job through no fault of your own, it鈥檚 likely you鈥檙e eligible. Click to learn how to file for benefits in your state.
Special circumstances might apply. For instance, people who lost jobs to the COVID-19 pandemic were eligible for state benefits and an extra $600 weekly through the federal government. Click for details.
The is another good source for information on unemployment insurance, particularly in respect to the coronavirus pandemic.
And if you鈥檙e unlucky enough to exhaust your benefits, you can apply through your
state for of payments. Lengths vary.
Revamp Your Budget
When your income stream changes, it鈥檚 time to tweak or create a budget. You can go
or . How doesn鈥檛 matter, but doing it does. Tracking your money reduces waste and makes
planning your life a bit simpler. A little more control also means a bit less stress.
Personal Maintenance
Do what it takes to find a job, but don鈥檛 short-change your physical or mental health in the process.
- Set aside time to relax.
- Eat and rest properly.
- Stay connected with friends and family. Sharing your hopes and fears will help.
- Get professional help if needed.
The Job Hunt
Finding a job takes a strategy and tactics. The strategy is your overall plan for finding a job, and you need one with a daily and long-term approach.
What you want to accomplish defines your strategy. You want a job making widgets? Decide where you want to make widgets, how much you want to make for doing it (basement and ceiling), and acceptable options to widget-making.
The tactics are the moving parts, or tools, and are roughly the same for each strategy:
- Update your r茅sum茅.
- Master the .
- Have a and business/networking card.
- Network 鈥� online and in person 鈥� continually.
- Attend job fairs if possible, and go when it isn鈥檛.
- Join professional/trade associations.
- Use social media effectively.
- 鈥淗ow to Leverage Social Media for Better Career Opportunities鈥�
- 鈥淗ow to Grow Your Professional Social Network (Without Being Annoying)鈥�
- 鈥淗ow to Find Job Openings with Social Media鈥�
- 鈥淗ow Job Seekers Can Use Social Media to Evaluate Potential Employers鈥�
Yes, use , but networking is your best bet for job leads; and the resulting ability to name-drop in a cover letter or interview never hurts.
Yes, you can turn to , too.
Take it one day at a time. And make good use of your time by having a daily checklist,
with goals for each day and every week you鈥檙e in the hunt. You鈥檙e reinventing yourself,
and you鈥檙e likely to be impressed with the final product.
USF Can Help You Change or Advance Your Career
Sometimes reinventing yourself takes an assist. USF鈥檚 Office of Corporate Training and Professional Education is here for you. Want to supercharge your r茅sum茅 with certification or explore another career path? Check out our programs.