You’ve lost your job, now what?
by Angela Loëb
A client I’m working with has been notified that his position has been eliminated. He’s still on the payroll as he transitions his responsibilities to various parties at the company. He asked me a very good question this week about something I’ve never addressed here on the Daily Career Blog. I want to share his question and my response. Feel free to chime in with any additional insights you have or resources you know about so we can pass them along.
The question: What questions should I be asking human resources, and what else do you suggest I do before my separation date with the company?
Researching online for something more than the obvious questions for HR, I didn’t find much. However, I came across this one particular article by Jeffrey Yamaguchi, which succinctly hits on what you should know and ask about regarding benefits when you’ve been laid off: “What to do once you’ve been handed a pink slip”
In addition to asking HR about COBRA, health and retirement benefits, I personally think it’s wise to get copies of as many of your performance reviews as you can get… or at least the ones from the last 3-5 years.
You also want to be sure that the folks you are using for references are not being hamstrung by company policy to talk with prospective employers about you. Some companies have a no-reference-giving policy, and managers are instructed to direct all inquires to HR. If so, HR will only provide employment verification, and, at the most, say whether or not you’re eligible for rehire.
If your reference no longer works for the company, then you should be okay, but if he or she still does, you need to have this important conversation about what they can and will say when contacted.
What Else?
During our very first meeting, we discussed other aspects of what to do at the outset of his job search. These are things that I recommend to you as well.
Check your finances. It’s wise to take a long view of your expenses and income. Project the expected numbers for up to 8 months if you can. Make a reasonable, realistic projection of what you have and what you need. This is also a great time to meet with your financial planner. By the way, we got some excellent tips from Aaron Pottichen of Merrill Lynch when he appeared as a special guest on The Job Search Boot Camp Show. That free recording is still available for you to download and listen to – just click here.
Do a skills inventory and gap analysis. Take a look at your most recent job description and run through the list of required skills and add your extra relevant skills. Then take a look around the internet. This is when I do advocate hanging out on the job boards… or “mega” job boards, as Jay likes to call them. The jobs listed online are a fantastic resource for research. So, pull those job postings, whether they’re in your target geographical area or not, and do an analysis. Find the common threads. What skills are they asking for? Next, do a skills gap analysis. Do you have what it takes, or are you missing key components? Armed with this skills inventory and gap analysis, you can develop a personal/professional development plan. This will help when you’re faced with an interviewer who challenges you about a missing skill. You can indicate your awareness of the “deficiency” and say that you’ve already looked into getting the necessary training, certification, etc.
Do some self-assessing. Take some quiet time to sit and jot down all the tangible and intangible requirements you have about your ideal next job. Pay, location, environment, manager’s style, benefits, work culture, etc. You should also assess your own unique personal brand and what you have to offer.
Come up with a transition statement. What are you going to tell your friends and family about your situation? I suggest you keep it brief, factual and positive. I suggest you think of how you will ask for help. How can your friends, former colleagues and family give you constructive assistance? You will definitely need to be prepared to:
a) Ask for help in a way that makes them feel comfortable and useful.
b) Be ready to receive help even if you aren’t ready or want it yet.
Figure out best ways to process your feelings. As you can tell, I’m big on giving you practical tips and steps. This tip might seem touchy-feely, however, I would be remiss if I didn’t stop and acknowledge the stress you’re going through with a job search… and especially if you’re in job search mode due to a job loss. When you compare job loss with other major life-stressors, it ranks high up there. In fact, it’s in the top 5 along with death of a loved one and divorce. How do you cope with stress? Exercise, meditation, funny movies or lunch with a friend? It’s doubly important that you name what works for you and incorporate this into your life right now. There are stages you go through with a job loss, and they are just like the stages of grief. Take care of yourself and find ways to stay positive. It’s paramount to good physical health, and it’s absolutely influences how well you’ll project yourself to others… especially to prospective employers.