Being laid off can be a challenging and emotional experience, but it’s important to remember that you’re not alone. In fact, it’s estimated that 55% of young workers can expect to face redundancy at some point in their careers. While it may feel overwhelming now, this setback can become an opportunity for growth and career development. Here’s a guide to help you navigate this transition and come out stronger on the other side.

 

Take a breather

The first priority after being laid off is to absorb the news and process your emotions. As John Lees, career strategist and author of “How to Get a Job You’ll Love”, advises, “The first phase is recovery. Don’t make any big decisions in those first few days and don’t rush into the job market the day after you’ve received the news.”

Try this: Give yourself a week to process your emotions before making any major decisions. Use this time for self-care and reflection.

 

Assess your finances

Understanding your financial situation is crucial as it determines the timeline for your job search. Priscilla Claman, president of Career Strategies, suggests, “Figure out how long you have to look for a job — and give yourself as much time as possible to do so. Also look at what you spend money on and think about ways you can cut back.”

Try this: Create a bare-bones budget to extend your financial ‘runway’ (i.e. the amount of time you can financially sustain yourself without income). Consider temporary measures like reducing subscriptions or negotiating bills.

 

Analyse what happened

Taking an analytical approach to your redundancy can help you bounce back more effectively. Rob Goffee, professor of organisational behaviour at London Business School, explains, “What we know about those who fare better after losing their job is that they analyse what has happened and the context in a scientific way. Use it as a way to re-develop yourself.”

Try this: Write down three lessons learned from this experience and how they could inform your future career choices.

 

Decide whether to reinvent yourself

Research has identified two successful strategies for rebuilding careers: “Recreators” who seek similar roles, and “Re-purposers” who explore new areas. As Eliana Crosina and Professor Michael Pratt explain, “Our research suggests that either path may ultimately be successful; the key is taking the time to consider what you can salvage from your previous job and how to use it to get your next one.”

Try this: List your transferable skills and brainstorm industries where they could be valuable. Consider if this is an opportunity to pivot into a new field you’ve been interested in.

 

Leverage Your Network

Your professional network can be a valuable resource during a job search. Reach out to former colleagues, your fellow alumni, and industry contacts. They may know of job openings or be able to provide introductions.

Try this: Set a goal to have one networking conversation per day, whether it’s a quick call, coffee meeting, or informational interview.

 

Update Your Skills

Use this time to enhance your skillset. Look at job descriptions in your field to identify in-demand skills you might be missing.

Try this: Enrol in an online course or attend a workshop to learn a new skill relevant to your career goals.

 

And, of course, we have an exceptional range of adult-focused courses within The Lincoln College Group (you can find out more here), including a great selection of Online Professional Development courses. 

 

Remember, being laid off is a temporary setback, not a reflection of your worth or abilities. By taking time to process, plan, and prepare, you can turn this challenge into an opportunity for growth and career advancement.

 

Stay positive, be proactive, and don’t hesitate to seek support when you need it.