What to do if you're laid off during COVID?
What to do if you're laid off during COVID? This is a question that is being asked by the millions of people who lost their jobs in the global economic crisis that engulfed us all in the past year.
But if there is something that this year has taught us, it would certainly be to just keep moving. If you are reading this article on the basis of the title above, you have already begun your journey. By deciding to find efficient solutions to your pink slip, you have shown courage and that you are relentless.
Although this is not an easy or pleasant journey to be on, it is important that you should get some things in place. Here is what you should do to counter this setback in the first 24 hours if you are laid off during COVID.
Get all the information you can need:
The first step is to go through your employment documents. Find out the conditions for which an employee can be terminated, know your rights during and after termination, and get all the paperwork in place at the earliest as it can become an unnecessary hurdle, especially in times like COVID.
By doing this you will pace your way to a smooth transition into your next job. Do not leave without what is rightfully yours. Ensure that your employer gives you a letter of termination that signifies the lay off was during COVID as it can help you with your future job applications.
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Reach out to your network and update them:
A good way to start job-hunting if you are laid off during COVID is by updating your profile on websites such as LinkedIn and letting your network know what work you may be interested in doing now. It is crucial to spread the word that you are looking for something new.
You should also revise your resume and cover letter as early as possible. This will ensure you are able to share it with employers when required. You should also check with your college mates, friends, family, ex-colleagues, or any other people who may be willing to lend you a helping hand.
Brush up on some skills:
Office jobs often lead to skill development taking the backseat. But this layoff can be viewed as an opportunity to brush up on the rusted skills and even add some new ones.
Start by creating a list and see what skills you are good with, skills that need brushing up, and skills you wish to acquire. This will help you to know which one to work on first. You can take up an online course on websites such as Coursera, EDx, or Skillshare.
Don’t be afraid to get creative:
This setback can help you introduce a turning point in your career. Don’t be afraid to explore new fields of work. You can start by looking for industries that are experiencing a rise in demand and how your experience can complement your application for the job in that industry.
Moreover, you can also consider this as an opportunity to start your own business or become a freelancer. The key is to not be afraid because there is no dearth of what you can do if you are laid off during COVID.
Review your budget:
Now is the time to check on your rainy day savings. With no paycheck for the time being, you must review your financing and cut back wherever you can. Prioritize your spending.
For starters, review your monthly memberships for avenues such as online streaming or gym and stop all non-essential and luxury spending. Don’t spend more than what you have. Lay down a weekly budget for essentials and try sticking to it as far as possible.
You can consider taking a personal loan as well; however, this should be a last resort in case you are unable to meet your expenses. If you need help planning your finances, you can always look for applications that can help you do so.
The first 24 hours after losing a job are certainly difficult; but, it is important not to panic. You can turn it around if you are diligent and don’t lose hope. We hope that this article helped you in understanding what to do if you are laid off during COVID.
Prepare yourself for what is to come and be ready to talk about your layoff because that question may be asked a lot. In the end, a layoff is what you make of it. You alone can turn this around into the opportunity of a lifetime.
Frequently Asked Questions
1. How much money do you get when laid off?
- In the event of a layoff, your employer will pay you any compensation that is mentioned in the contract of employment. Also, many countries have laws and schemes that extend benefits to the unemployed.
2. Can my employer let me go?
- An employer can lay off the employees only if the contract of employment allows them to do so. Such a contract of employment can be written or oral.
3. What is the difference between being laid off and getting fired?
- An employee is fired for making a mistake or faulting on responsibilities. But a layoff is a fault on the side of the business. Layoffs also happen when the companies go through economic stress due to outside factors such as a recession.
4. Is layoff a termination of employment?
- The term lay off strictly stands for a temporary suspension from work. However, in modern times, layoffs have become equivalent to termination and employers being laid off lose their jobs, even without any fault in their performance.
5. Can permanent staff be laid off?
- Yes. Depending on the contract of employment, even the permanent staff can be laid down following the conditions laid down in the said contract.