Are you facing job loss? The loss of a job is shocking and anxiety-inducing; discover what steps you need to take to recover.
Business & Finances

Facing Job Loss? 5 Steps to Take Immediately

Are you worried about your job?

If you’re concerned that your company might be laying off employees, you’re not alone. It’s important to take action immediately when facing a job loss so that you can recover quickly.

But don’t panic! There are ways for you to take control of this situation and make sure that you come out on top.

Here are 5 steps that will help guide you through this difficult time so that you can get back on track with your career as soon as possible.

1. Contact Your Employer

If possible, call your employer before going into the office so they know ahead of time that you will not be coming in. You don’t want anyone to think anything negative about you because they think that you are simply skipping work.

If it is possible, try to contact your employer the day before so they can make arrangements for someone else to help with all of the tasks that would have gone to you.

Your employer will be able to indicate whether or not you will be receiving severance pay or unemployment benefits, and depending on how long you worked there, you may even qualify for COBRA healthcare coverage.

2. Contact Your Insurance Company

Immediately call your health insurance company if applicable. It’s a good opportunity to let them know your situation.

They will usually give people about 30-60 days after their termination date to pay for any remaining premiums or penalties that may apply if they don’t receive payment in time.

Ask them if there are any additional options for you to use or if you can expand your amount of coverage, as this is the time that most people look into these types of things.

3. Open a Bank Account

If you don’t already have one open, then now is the best time to go ahead and open up a bank account. This will mean that all wages will be available immediately without having to wait for direct deposit.

Once you receive your first paycheck after being laid off, simply transfer the funds over into the new account along with any funds from unemployment benefits.

If you want to know more about job loss insurance and workers compensation, visit the best lawyer for job loss:

4. Fill Out an Application

Be sure to fill out job applications for any position in your field of work, even if it’s not the perfect opportunity. Don’t limit yourself because you don’t think it’s a good fit or you aren’t getting paid enough.

There will be time for that later when you have secured another position. The sooner you get your foot in the door at other companies, the better off you are going to be when something opens up within their organization.

5. Look into Alternative Jobs

Don’t forget to look for jobs. During this transitional period where everyone is trying to secure employment, there are often little jobs that pop up here and there that simply require someone who knows how to do office work.

These types of opportunities may not pay as well as your former job, but it’s better than nothing.

Are You Facing a Job Loss?

The five steps we outlined in this blog post can help you take control of your situation and start planning for a successful future.

If you feel overwhelmed, or you are suffering from job loss depression, please reach out to us!

We have more expert advice on minimum wage job loss, job loss numbers, and job loss insurance so check out our blog now!


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