Losing your job can be a terrifying and confusing time. However, it can also be the start of exciting new adventures. It might not feel like it at the time but losing your job can be the push you need to follow your passions and do something you really enjoy. Before you jump into applying for new jobs, there are a few things you need to take care of first.
If your employment has been terminated due to downsizing or redundancies, it is likely that you will be entitled to a severance package. This is pay and benefits that your employer should pay you on dismissal. It is important that you read a severance agreement, carefully as many employers will try to give you less than you are entitled to. The severance pay you receive should be based on a number of factors including how long you have worked at the company and any unpaid vacation time. If you are unsure about what you are eligible for or think your employer may be cutting corners, it would be wise to consult a lawyer before signing a severance agreement. There might even be some taxes to pay.
It’s likely you may be unemployed for a short while before you find the right job position for you. Therefore, your next step should be to apply for unemployment benefits so you still have some source of income to keep paying the bills. The majority of states provide 26 weeks of unemployment benefits and some states including Montana provide more than that. Unemployment benefits can give you some time to adjust and move onto the next step in your life. If you plan to go back to education or become self-employed after losing your job, there is also aid available to help you with that.
Once you have taken care of the steps above, it is finally time to think about the future. This period of unemployment is the perfect opportunity to reach for the stars and end up at your dream job. Perhaps you have always wanted to be self-employed, or maybe you have always dreamed of being in a certain job role. This is your chance to achieve those dreams. Applying for jobs can be stressful but it should also be a time of excitement. There are so many opportunities out there. Look online at job listings and see if you can find anything that fits. If not, maybe consider enrolling in some courses to help build your CV or going back into education. You could even try and start up your own business. The possibilities are endless!
Losing your job is never a good experience but it should be a little less daunting now you know what steps to take next. It’s important not to panic, and to try to look for the positives in the situation because losing your job is definitely not all bad. It is a new beginning, and you never know, it might all work out for the best!