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By Brenda L. Peterson, The Layoff Lady The Challenge: Describing What You DoWhether you're searching for a new role or thinking about your professional development, not having the right words to describe your skillset can hinder your progress. Identifying your career keywords will help you create effective messaging for your LinkedIn profile, resume, conversations with colleagues, and other written communications like email and social media posts. Where To Start: LinkedIn and KeywordsHere is my recommendation for how to begin gathering keywords that align with your chosen profession:
Let me take you through an example. Search for Your Target Job TitleI searched LinkedIn's Jobs section for Business Partner Organizational Development in the United States. From the results, I selected ten currently open positions to review further (because I'm an overachiever like that). Here are those job titles:
Lesson Learned: When you search for a job title, your results will include a variety of titles different companies use. Be sure to review the job description to learn more about what that company expects from that role. The duties for the same job title might vary widely from company to company, as might the terminology they use to describe it. Identifying Skills and KeywordsTotal Number of Different Skills Returned for All Ten Jobs For the 10 jobs I reviewed, 69 different skills were included in the results. For context, if all roles had the exact same skills, this number would be 10. If all of the roles had different skills, this number would be 100. Lesson Learned: Not only will job titles vary across organizations, but what skills they value can also differ. Be sure to review the job description to learn more about what skills the company thinks will help make someone in that role successful. Specific Skills Returned For More Than One Job Several skills came up more than once across those ten jobs. Here is the number of times a specific skill appeared for more than one role:
Lesson Learned: Even if there is not widespread agreement on the terminology used across organizations, some keywords will show up more often. Consider including popular keywords in your skills section on your LinkedIn profile and in your resume. Different Keywords for Similar Skills While specific keywords like "communication" and "problem solving" appeared more than once within the 10 job descriptions, several related terms might be included instead. Here are a few groups of terms that take different approaches to describing similar concepts:
Lesson Learned: When you look at the groupings of keywords, you can see the broader areas where roles like this would operate. Each company may use slightly different terminology regarding the skills that they value. When you talk about the work you do, consider weaving some of these words into your stories. What Do You Think?How do you identify the right keywords to use to describe what you do? Share your thoughts in the comments. Learn More
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By Brenda L. Peterson, The Layoff Lady Reflection and Goal SettingBeginnings and endings often make us think. When relationships, jobs, or projects end, we often reflect on recent events and our desired future state. Taking time to reflect on what went well, areas for improvement, and lessons learned can give us clarity on what matters to us and how to set goals that help us achieve what is most important to us. Why We on’t Pause To ReflectIt’s human nature to want to keep the past in the past and move boldly into the future. Consequently, we often skip over self-reflection that could help us learn from the past, select the right goals, and identify the why that will help us succeed. We may also want to skip self-reflection to avoid dealing with unpleasant truths or uncomfortable emotions. While pausing to reflect can be hard, it can help prevent you from patterns of behavior that keep you stuck. Let’s look at a straightforward self-reflection activity that can help you select the right goals and make the progress you want. How To Think About Your WellbeingI use Gallup’s Five Elements of Wellbeing model as a starting point. This model identifies and labels five important areas that work together to form our overall wellbeing:
In short, if you’re struggling in one area of wellbeing, it will harm your overall wellbeing. By reflecting on each area, you will start to see connections between the different areas, how the areas impact one another, and how you could make positive changes to improve your overall wellbeing. Reflection Questions for Each Element of WellbeingUse these questions to reflect on each of those five elements of wellbeing:
An Example Reflection: Community WellbeingHere's an example of what this reflection might look like as you think about community wellbeing:
Reflection Question for Your Overall WellbeingAfter reflecting separately on each element of wellbeing, ask yourself the following question about your overall wellbeing: Based on your reflection on each element of wellbeing, which area do you want to focus on? Your Reflection Insights and Your GoalsBy going through this activity and evaluating your lived experiences through the lens of each area of wellbeging, you may notice trends. For example:
Use what you learn from your reflection to inform how you focus your attention and what goals you set. What Do You Think?Do you factor your wellbeing into your overall goal setting? How do you do that? Include your thoughts in the comments. Learn MoreBy Brenda L. Peterson, The Layoff Lady A Time of ReflectionBeginnings and endings often make us think. When relationships, jobs, or projects end, we often reflect on recent events and our desired future state. Likewise, as we prepare to begin a new month, season, or year, we often set goals. Many times, people jump to old standby goals like “lose weight” or “get a better job” without taking time to reflect on why that goal is meaningful to them. I also think that is why a lot of new years resolutions and other hastily made goals fail. Turns out, it’s perhaps even more important to figure out what matters to you and why. This often skipped step is how we discover a deeper seated motivation, which can help us to actually make those goals into new habits. Where To Start: Your ValuesWhen you’re setting personal goals, and you want to make sure they stick, identifying your values is a great place to start. When thinking about the life you want to live, it's essential to start with what is truly important to you. Identifying those guiding principles will help you decide how you budget your money, how you want to spend your time, and what type of work is right for you. Finding the words to express your values can help you live in alignment and increase your overall wellbeing—as well as give you the much-needed motivation to progress towards goals that support your values. Step 1: Take The Values AssessmentI find it challenging to think of the right words to articulate what I value. While there are many lists online you can use as a starting point, I prefer using the think2perform Online Values Exercise. This free online assessment includes 51 named value cards and four rounds of reviewing the cards. The total time to complete this activity is about 15 minutes, and perhaps more depending on how much contemplation time you need. In the end, you'll have five value cards that name and start to describe key areas that matter to you. Recently, when I retook the values assessment, I identified these as my top 5 values:  Step 2: Personalize Your ValuesAfter you identify your top five values, think about how you live those values in your everyday life and even how they play out in your career. As I took the assessment this time, I found that I liked some of the value names, like autonomy and helping others, as well as parts of the value descriptions from other cards. I realized how important it was for me to personalize my values to make them truly my own. Fine Tuning Value Names For one, I work in the field of Learning and Development, and previous job titles I have had included the word “training” in the title. For me, the idea of education resonated with me, but the word "education" was not quite right. When I thought more about what matters to me, I landed on the word "learning." For me, "education" has the connotation that I need to take a class in order to learn. I'm a firm believer that learning comes from all directions all the time. Fine Tuning Value Descriptions I also took more time personalizing the descriptions. While I chose the word "relationships" to label one of my values, I incorporated details from descriptions for related terms like "family" and "community." I also included details that help inform how specifically I want to be sure to live those values. I included one line about different types of individual and groups, and what might bring us together, including this line: "Seeking out groups and individuals that align with my priorities, preferences, and interests." While I kept the word "health" as the value that mattered to me, I decided to update the standard description of “placing importance on physical and emotional wellbeing.” Instead, I thought about what health means to me and how I can live that value. My description for health included these details: "Leveraging habits and routines that maximize my energy and support my overall wellbeing. Prioritizing my physical, mental, and emotional wellbeing by focusing on nutrition, movement, and self-care. Honoring my need for social and alone time.” Value Evolution Over TimeI have completed this values exercise multiple times, and I find it comforting that the tend to be relatively stable, but always evolve as I do. I notice that my results change a bit depending on what personal challenges I've faced since my last assessment. The words that have remained in my top five consistently over time are autonomy, relationships, and health. When life has felt unpredictable, words like stability, security, and safety have moved up. Similarly, since work is such an important part of my life, there are always words directly related to what I do for a living. In this case, learning and helping others round out my top five, and represent not only my work, but my general approach to the world. What Do You Think?Do you take time to think about and name your personal values? How do you go about that process? Share your thoughts in the comments. Learn MoreBy Brenda L. Peterson, The Layoff Lady Layoffs Happen All The TimeIt starts like any other day. Then, it takes an ominous turn. Whether you were invited to an ambiguously titled last minute meeting, received an awkward message in your personal email notifying you of your last day, or are perp walked to HR on your first day back from vacation, you are now among the newly unemployed. Welcome to the suck.  Layoffs happen all the time. Now What Do I Do?Even if there were buyout rumors, a quarter with low sales, or a new company direction, being part of a reduction in force (RIF) is still surreal when it happens to you. It's hard to know what to do with yourself when you find yourself unexpectedly out of the job. It's time to redirect your attention. Your New Focus AreasThe work problems you had an hour ago are gone. Along with your freed-up future come very different challenges. It’s time to shift to these top three focus areas:
Your Guiding PrincipleAlong with your new focus areas, your overall guiding principle is not to do anything counterproductive (or downright dumb) as you figure out your post-layoff next steps. Your Never-Do List Here are the career-limiting moves that will make your life harder. Instead of springing into action, stop, think, and then just don't do the following:
Your Think-Before-You-Consider-Doing List Here are a few things you may want to do at some point, but that require thought and a plan before you move forward. At the very least, sleep on it before you do any of the following:
Now that you are at least somewhat inoculated against creating utter chaos for yourself, let's get back to those top three focus areas.  My white box from layoff #4. Focus Area 1: Process Your EmotionsLosing your job can be an emotional roller coaster. An unplanned job change is a stressful life event on par with getting divorced or going to prison. Just like dealing with a death in the family, you’re dealing with the death of the future you thought you had. Losing that imagined future is a significant loss that needs to be addressed. Figure out how you will cope with these changes. While distracting yourself from the unpleasant parts of the process is natural, building healthier coping mechanisms, like prioritizing self-care, is better for your long-term success. While you can get away with avoiding your feelings for a while, eventually, you need to acknowledge each one so you can move on. If you don’t work through those difficult emotions, your ignored feelings will come out sideways at just the wrong time. It is better to work through your grief privately than to fall apart during an interview or snap at someone who is trying to help you. Step 2: Review Your FinancesDisclaimer: While I know quite a bit based on my previous work experience supporting financial coaches, my own research, and my personal life experiences, I do not currently hold a license or certification to give financial advice. Therefore, the information provided here is educational information provided as guidance. I hope you can glean value from my lessons learned. Feel free to take my recommendations or not—but whatever you do, double-check my information (and everyone's facts, for that matter). This is your life, and you will care more about your finances and health care than anyone else. With that, read on. Possible Money From Your Former EmployerAlthough your paychecks will eventually stop, you will receive your final paycheck, possibly vacation time that you have earned and, hopefully, a lovely parting gift from your former employer in the form of a severance package. Severance could be equivalent to a set number of weeks of pay or include an additional lump sum, continuation of some benefits, and job placement services. In most cases, employers do not have to give you any type of severance. If you are eligible for a severance package, you will need to sign something before receiving that money. Once you sign, any thoughts you might have about legal action regarding your employment with the organization are pretty much over. Read the agreement given to you, consider having a lawyer look it over, and ask for clarifications (and any revisions) before signing it. After that, there is typically a waiting period before you receive that money. I also encourage you not just to sign whatever paper they put in front of you. Make sure you advocate for yourself. Unemployment IncomeAfter a layoff, most people will be eligible for unemployment insurance income, or UI. I encourage you to apply for unemployment payments. The money used to make unemployment payments comes from the payroll taxes that employers pay. That money is intended to help people who have been laid off to pay their bills as they search for something new. Unemployment payments are administered at the state level and vary by state. After you apply, there may be a waiting period before you receive a payment. Your state will also outline the amount of each payment you will receive, the number of payments you are eligible to receive, and additional factors impacting your payments. You may also qualify for job search support services and even programs to help you upgrade your skills. In short, apply for unemployment income right away. In most cases, there is not a good reason for most people to forgo unemployment payments. A Note About Health InsuranceSince many people rely on their employers for health insurance coverage, consider how you’ll cover healthcare costs. If you have a spouse, domestic partner, or parent who can bring you onto their health insurance, that may be your best option. Check with the other person’s employer and let them know you no longer have health insurance through your employer because of a layoff. Their employer can talk you through your next steps and cost changes. If that's not an option, consider COBRA coverage through your former employer. This means you could stay with your previous health insurance, but now you'd pay the whole premium cost. Brace yourself when you see your new premium amount because it is usually A LOT more than you spent as an employee. Another option is going on the insurance exchanges at Healthcare.gov to find coverage. You may even be eligible for a subsidy to offset the cost. Alternatively, for less expensive coverage intended to cover a big expensive medical issue should it happen, short-term health care insurance may be a good interim option. Do your research and determine what makes the most sense for you and your household. Step 3: Prepare For Your Job SearchNext, plan to launch your search for a new job. Start by thinking about what kind of job you want. Write down job titles, possible employers, and your target salary range. Update your resume to include details about your last position and showcase your unique skillset as it aligns with your target job. From here, start letting people know your new status of being “in transition” and ask for help. They might be able to introduce you to a valuable business contact, keep an eye out for job openings that meet your needs, and introduce you to a hiring manager looking for someone just like you. It Will All Work Out. It May Also Take A While.All told, I’ve had seven workdays that started with lots of obligations then quickly evaporated into unemployment. The good news is that it will all work out. The bad news is that there is a lot of uncertainty between your last day of work and your first day of your fancy new job when it does arrive. Using these tips will set you right as you begin your career transition. Seven Lessons From Seven Layoffs: A GuideIf you've recently been laid off, check out my book Seven Lessons From Seven Layoffs: A Guide. You can even buy the eBook to get help right now. In this book, I cover seven lessons from my seven experiences with unplanned job losses. I include my personal stories alongside practical advice for navigating this tumultuous time. You'll learn strategies for managing your mindset, finding the next right job for you, shaping your career story, and overcoming setbacks.  Learn Moreby Brenda L. Peterson, The Layoff Lady 'Tis The SeasonOf my seven total layoffs, three began with my role being eliminated in the fall and ended with me starting a new job well into the new year. Being in a career transition always has rough patches. Being in a career transition during the holidays—especially the week before Christmas through the first full work week of January—is soul-sucking. I’ve read several articles touting the benefits of job searching during the holidays--and I mean a lot, a lot of them. (No one else will be applying! You’ll get a leg up on other applicants! Tons of people are trying to fill positions before the year's end!) I'm sure somebody somewhere found the role of a lifetime the day after Christmas interviewing with the one HR rep who was out of vacation and stuck working. I am not that person. I'm also not going to make the mistake of trying to be that person ever again. The Hiring Process Takes TimeMy shortest period of post-layoff unemployment was 50 days. In that time, I discovered the opportunity, applied for the role, had a phone screen, interviewed with the hiring manager, met with the hiring manager's boss, had an interview with the team, received an offer, negotiated the offer, waited for the background check, and then started. During this entire process, I had an interview each week. We started talking in mid-March, when no one was on vacation, and there were no major holidays. Holiday Hiring ChallengesNot even considering each organization's busy season, making progress on finding a new job in December is challenging. In addition to whatever year-end tasks need to happen, people are also focusing on holiday parties and family commitments, and sometimes using their vacation so they don't lose it. Consequently, focusing on getting people through the hiring process ranks lower on the priority list. The Darkest Job Search TimeIn my experience, the absolute worst weeks for job searching are the last two weeks in December, with the very first week in January still being very slow. Then, as if by magic, on the first Monday of the first full workweek of the year, the world starts moving again. Those last two weeks in December can be downright brutal if you're trying to continue job searching. Possible referrals will suggest you wait until people are back in the office. The HR person you might manage to talk to is likely the one with the least vacation who is not hiring for the role that interests you most. You may also find that you'll get next to no good news and instead get a lot of long-overdue "we regret to inform you" emails confirming that you did not get that job you applied for several months ago. My Holiday Job Search AdviceHere is my advice to job seekers at the end of the year. Take a break from pounding pavement on your job search, and just breathe. Stop applying for a week or two. This break will do you good. Instead, take some time for you. Go do a few things you enjoy but don't always get to while you are gainfully employed. Go to a noon yoga class. Get together with friends for lunch. Read a novel with no obvious professional development benefit. Go to a matinee. Visit a museum. Call a friend and talk on the phone. Take a road trip. Walk around the mall on a weekday. Buy fancy coffee in a café and people watch. Whatever it is, do some things that bring you joy. Just like we all need vacation time to recuperate from our day jobs and be able to do good work, we also need to take a break from a job search so we can have the mental space to regroup. If you want to do something for your job search, revisit what you want in a new role and ensure your goals are still the right ones. Then, you can move forward and have more success in the new year. Learn MoreBy Brenda L. Peterson, The Layoff Lady Learn all the things!Whether you're gainfully employed or looking for a new role, continuing to learn and grow is a valuable career resilience strategy. While you can certainly pursue college degrees or certifications, there are many informal ways to increase your knowledge. Here are three of my favorite ways to continue learning and growing. Strategy 1: Social MediaStaying current on industry trends can be a challenge. One way to learn a little bit at a time is using social media. I use LinkedIn to learn a little at a time on topics that matter to me. Follow thought leaders and regularly read their posts to learn more about emerging trends and technologies. In addition, follow companies to stay current on their new products and positions in the marketplace. You can also follow hashtags for keywords you like to learn about. Here are a few topics I consistently learn about from social media posts:
Strategy 2: WebinarsWebinars are an excellent way to learn about a topic in more detail, usually over the course of 30-60 minutes. In a webinar, you can hear a speaker lead you through content, highlight important points, and string those ideas together into a more cohesive whole. In addition, you may also have the opportunity to interact with other webinar attendees. Webinars may focus on presenting content, answering questions from live attendees, or getting the group to share ideas on a specific topic. Here are a few webinars I have attended and what I took away from each:
Strategy 3: Professional OrganizationsProfessional organizations are a great way to learn more about a wide variety of topics. For one, you can attend regularly scheduled meetings, which typically have an educational component, to learn industry-specific content. Most groups have a social component, whether it is networking time during meetings or separate events that focus on getting to know other members. There are also volunteer opportunities, from helping check people in at a monthly meeting, being on an event-specific committee, and taking on a leadership role. These opportunities provide multiple ways to learn from a structured event or learn by doing. Here are a few professional organizations I have been a part of and ways I have learned content and skills:
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By Brenda L. Peterson, The Layoff Lady Managing Curious and Well-Intentioned PeopleOne of the hardest things about being laid off is telling other people about it--specifically fielding their uninvited questions. I'm not talking about work people or your professional network, either. I'm talking about the family friend you run into at the grocery store, that parent you went to a PTA meeting with once, seldom-seen relatives at a holiday gathering, and the neighbor you seldom see. Worse yet, it is interacting with a group of well-intentioned people who express their curiosity, worry, and opinions regarding your wellbeing. Here are a few suggested talking points for managing those conversations that pop up at just the wrong time. Getting Your Patter DownAfter you've chatted with your inner circle, it’s time to think about addressing this topic with everyone else. This includes people who make random comments about your situation, those who don't really know how layoffs work, and the ones who genuinely want to help but may not have the best advice. These conversations may be rough, especially if you feel vulnerable. Your goal may be to get through the awkwardness and move on to other topics. To prepare, it is helpful to know how to respond. Here are a few suggestions for talking points to get you through. Talking About Your Current State and Plans
Talking About The Job You No Longer HaveThe question: I heard you’re unemployed. What happened there! Your core message: My job ended. It is a thing that happened.
Talking About What Is Next For YouThe question: What are you going to do now? I would be freaking out! Or I’d be scared to death if I were you. Are you sure you’ll be okay? Or A person I sort of know lost their house/was unemployed for years/had to take a pay cut/never worked again. Your core message: I’m going to keep on keeping on and also look for a new job.
Talking About STILL Not Having a JobThe question: So--do you have a job yet? Or Are you STILL unemployed? Or Did that thing you were interviewing for work out? Your core message: I am job searching and something will work out.
Acknowledging People's ReassurancesThe question/comment: Don’t worry. It’ll be fine. Hang in there! You’re so talented! Your response: Thanks. Addressing Well Intentioned and/or Awful AdviceThe comments:
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By Brenda L. Peterson, The Layoff Lady Your Professional NetworkWhen I think about building my professional network, adding new LinkedIn connections is one of my markers of success. I use LinkedIn as a tool to create, build, track, and maintain my professional relationships. Turning People You've Met Into ConnectionsWhen I first started using LinkedIn, I connected with people I had met in person. At that time, my network mainly included the following people:
Creating New Professional ConnectionsWhen the pandemic hit, I realized I needed to shift my approach, or I would not meet anyone new--and I've continued to add to my professional network. I also realized that since more companies were open to hiring remote people, I needed to broaden my network beyond the people I would encounter in person. In addition to the people I used to connect with, I now also started proactively sending connection requests to the following types of people:
Again, the more people I meet, and the more people I connect with who know about my professional value, the better I will be able to find a new role that meets my requirements more quickly. Opportune Times To ConnectI often connect with people when there are specific reasons to connect that are noteworthy, including the following:
Personalizing Connection RequestsSince LinkedIn now limits the basic account to only 5 personalized connection requests per month, I adopt multiple strategies to build rapport with people. In some cases, I still send a personalized connection request. This can be especially helpful when I send a connection request to someone I have not met before. I include the following components when personalizing a connection request:
Interacting Before ConnectingPersonalizing a connection request isn't the only way to help you gain that new connection. Here are a few tips you can use without a paid LinkedIn subscription:
Learn MoreBy Brenda L. Peterson, The Layoff Lady Time Management Challenges Post-LayoffWhen life is run-of-the-mill, it’s still hard to accomplish essential tasks on your to-do list. Losing your job upends your life and gives you a whole new set of challenges. These include uncertainty about the future, new complexities in your financial life, and general worry about how long it might take for things to get back to “normal.” You are now entering a challenging phase in your life where you will experience more rejection in a shorter period of time than ever before. All these factors will inhibit your ability to progress on your goals. Some Days Are More Difficult Than OthersSome days will be amazing. Within a half hour of waking up, you get a phone screen invite, notice a hiring manager accepted your LinkedIn connection request, and read a message from a recruiter for a role that looks promising. Hearing good news fills you with hope and boosts your energy. Soon, you’re updating your budget, making that overdue phone call, and cleaning your whole kitchen. You use that extra burst of energy to start preparing for tomorrow’s phone screen. On that very good day, you may even check a few extra things off your to-do list. Then there will be other days. Before you’ve had your first cup of coffee, you’ll check your email and find a “we’re moving forward with other candidates” message after a “the position has been filled” followed by a “this position has been put on hold indefinitely” message. After a triple dose of rejection, the rest of the day’s planned activities may fall by the wayside. A To-Do List Is Not EnoughYou have probably been relying on the overly simplistic getting-things-done strategies people often bluster about. If your only plan for success involves hammering away, powering through, or pulling yourself up by your bootstraps, you will have problems. It’s an excellent time to remind yourself that bucking/soldiering/cowboying up is not a long-term sustainable strategy. It is a short-term fix you can use occasionally when you have no other options. Making that once-in-a-while solution your go-to move will leave you irritable, burned out, and feeling like the failure you most certainly are not. To find the right new job for you, even the best to-do list won’t ensure success all by itself. You won’t be able to push yourself beyond your limits consistently for very long. Given that many job searches last between a few weeks and several months, you will need to find a way to sustain the effort you’ll need to achieve your job search goals. All Hours Are Not Equally ProductiveWhen I’m in career transition, I spend a lot of time writing, applying for jobs, and interacting on LinkedIn. I also tend to rewatch tv shows and movies. Conventional time management would say that I’m wasting a good chunk of my life watching fictional people live theirs and that I should spend that wasted time on the higher-value items on my to-do lists. In reality, it is not feasible to be hyper-productivey all the time. Achieving at a high level requires preparation and adequate recovery time. That means if I have two video interviews in one day, I will appear to be doing a lot of nothing for those hours right afterward. The only way I can knock those interviews out of the park is by managing my energy well. Managing Your EnergyRemember, it’s not just about tallying up those hours and having a brag-worthy number. Instead, work with your energy levels, balance planning and doing, and align your activities with your peak productivity times. Prioritizing self care, so you have enough energy to perservere, is a great first step. Learn MoreBy Brenda L. Peterson, The Layoff Lady Post-Layoff ChangesWhen your “day job ends,” many things in your financial life change. For one, what is for many people their primary source of income, ends. This often prompts a quick shift to a short-term "survival" mindset that will last from the layoff event until the first paycheck from that new job arrives. Let's talk about your new financial goals and how to manage expenses. Disclaimer: (You know there has to be one of these now that we're talking about topics like personal finances and health insurance.) While I know quite a bit based on my previous work experience supporting financial coaches, my own research, and my personal life experiences, I do not currently hold a license or certification to give financial advice. Therefore, the information provided here is educational information provided as guidance. I hope you can glean value from my lessons learned. Feel free to take my recommendations or not—but whatever you do, double-check my facts (and everyone's facts, for that matter). This is your life, and you will care more about your finances and health care than anyone else. With that, read on. Employed Financial GoalsWhen gainfully employed, your household financial goals may look like this:
Typically, goals include living within your means and spending/saving/giving money in line with your values and financial priorities. When things are going "as normal," you probably have the capacity to think about current activities and consider what is possible in the future. Layoff Financial GoalsDuring a career transition, financial priorities shift from being proactive to focusing on the here and now. The goal is to get through the next one to six months with as few adverse effects as possible. Here are my recommendations for crucial goals to keep in mind during a period of reduced income and job transition:
While navigating post-layoff unemployment, the goal is to make it through with as few bumps and bruises as possible. Instead of trying to pay off a previous purchase or save for a goal, you will probably leave any “extra” money in your checking account just in case. Paring Down ExpensesThis is also a good time to see what expenses you can pare down in the short term to ensure that the money you do have lasts a little longer. Here are a few ideas:
Prioritizing ExpensesHere is a recommendation for prioritizing which bills you pay when money is tight:
What To Do If You Can't PayIf you can’t pay your bills, call the company and discuss how to make arrangements. Instead of just plain NOT paying a bill, make a phone call. I know this can be hard and humbling, but it is important to figure out a plan. Remember, you're not the first person to be in a position where they had an unexpected job loss and needed to figure out alternatives. It is also to the company's advantage to work with you. It's in the company's interest to help you stay on track as a customer than for them to spend the time and staffing on repossessing items or turning off and on utilities. Help them help you. Making this call also helps minimize damage to your credit score (which could even impact your ability to find work sometimes). Be sure to call right away when you start to have issues instead of waiting until you have a lot of issues. I encourage you to call when you worry abouat having a hard time making one mortgage payment instead of waiting until you are months behind. Remember, though, even if you have waited, MAKE THAT CALL! When working with a company on making payment arrangements, you may be able to defer payments, figure out a payment plan, take advantage of a company-sponsored program, or find a government-sponsored program to help you during a hard time. County, faith-based organizations, and non-profits may be able to help you, too. Whether you need help paying for gas, food, transportation, or utilities, make sure to use the available resources. Learn More
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Author7-time layoff survivor Brenda L. Peterson, The Layoff Lady, waxes poetic on layoffs, job transitions, & career resilience. Buy The Book!
Were you recently laid off? Need a roadmap for what's next? Or planning just in case? Check out my book, Seven Lessons From Seven Layoffs: A Guide!
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