“Unfortunately, we’re going to have to let you go.”
“Effective immediately, your employment with the company has been terminated.”
“We’re eliminating your position and/or department with the company.”

These are three statements employees dread hearing the most. There’s nothing that makes your heart beat fast and your palms sweat like being called into your boss’ office or the office conference room in the middle of the afternoon, or at the start of the day.

Getting fired or laid off is a traumatic experience that no one can prepare you for. Some people see their life flash before their eyes. Others have breakdowns or outbursts.

And then there are a special few who take the news in stride - they shake their managers’ or HR persons’ hands, grab their things, and walk out with a smile.

WHAT DO YOU DO NEXT?

Regardless of how you react, it can be a shock to lose your job in the blink of an eye, especially if you have a family to support, bills to pay, and responsibilities that rely on your paycheck. So once you’ve packed up your desk and return home, now sans your job, what do you do next?

The first few days after your layoff or termination are crucial. Your next set of moves can make all the difference for setting you up for a solid bounceback or comeback or a complete setback. The key is to be strategic and to utilize all of your resources.

WHAT TO DO AFTER GETTING LAID OFF OR FIRED

After letting yourself have a good cry, venting to a friend, and maybe even pouring yourself a glass of wine or scotch, here’s a list of things you should do.

1. Take some time to process your emotions

Whether you’ve been with your former company for years, months, or weeks, parting ways can leave you feeling a range of emotions including sad, angry, defeated, or worthless. You’re leaving more than just a job.

You’re leaving co-workers who may have turned into friends, managers who may have also been mentors, the hope of advancing in the company to a dream role, and so much more. Set aside the first day or two, or even a full week to process and acknowledge how you feel.

Cry, scream, or sulk if you need to - but not for too long.

2. File unemployment

Even though you’ve lost your job, you won’t be completely moneyless. If your state or country offers unemployment assistance, you can file a claim for unemployment benefits while you’re job searching.

Although the amount dispersed is significantly less than your regular take-home pay, something is better than nothing to keep your head above water while you begin searching for a new job. If you’re a U.S. citizen, you can learn how to file for unemployment here.

3. Comb through your finances

Losing your job is exactly what savings and rainy day funds are for. Check all of your accounts to see the balances and amounts stored in each to calculate how long your stashed cash will keep you afloat.

Ideally, you want to always have at least three to six months of expenses saved up at all times, along with investment accounts like 401K’s. If you need to cash anything out, don’t be afraid to do so - especially if you really need it.

4. Contact your bank, lenders, and creditors

If you don’t have any savings and your cash flow is a little tight, that may mean you will have a hard time keeping up with car payments, utility bills, installments, and other bills.

Call your creditors to let them know that you’ve lost your job and inquire about any assistance such as deferments, fee waivers, forbearances, and reduced payments. Most companies want your account(s) to stay in good standing and have programs and policies in place to help you.

5. Update your resume and LinkedIn profile

Are you surprised that updating your resume and LinkedIn profile are not the first on this list? Don’t rush into updating your resume right after losing your job.

Wait until you’ve done the steps above to tackle this since it demands your full focus and attention. Add the end date of your last position as well as any accomplishments or wins that aren’t listed. Be sure to add new skills that you acquired as well as degrees or certifications.

If you’re not on LinkedIn, learn why you should be by reading this blog post.

6. Hire a resume writer

If writing is not your strength or you’re worried about potentially not getting past Applicant Tracking Systems, consider hiring a resume writer to create an ATS optimized, keyword enriched resume that’s guaranteed to get you callbacks and interviews.

A targeted, professionally written and designed resume is one of the best investments you can make in your career because it can cut your job search in half, help you make more money, and help you get into top-ranked companies.

7. Ask for references and recommendations from past co-workers and colleagues

If you had a great relationship with your former manager, co-workers, and colleagues, reach out to them and ask if they’d be willing to serve as a reference for you. You can also ask them to write you a LinkedIn recommendation for your LinkedIn profile.

They should be able to vouch for your skills and expertise and provide examples of how you shined in your role. Feel free to provide them with a template detailing what you’d like them to include in their statements.

8. Reach out to your network

Did you know that 80% of jobs are filled through networking? If you have a robust group of professionals and connections, send them an email or leave them a voicemail letting them know that you are back in the job market and ask if they know of any openings that you would be a good fit for. Your network should include alumni, professional groups or associations, past co-workers, and mentors.

9. Find ways to make some in-the-meantime cash

While you wait to receive your unemployment, cut your spending, and start to job search, find ways to earn some in-the-meantime cash by freelancing, taking small projects, launching a side hustle, or driving for Doordash or Instacart. There’s plenty of money to be made and your job is not where all the money is!

IT’S GOING TO BE OKAY

Losing your job sucks! But it’s not the worst thing that can happen. Find it in your heart to be grateful for the opportunity, the experiences, the additional information you can now add to your resume, and all the good things you took away from being in the role.

There are millions of companies in this world to work for, and there’s a new corporation that needs exactly what you have to offer. You know how the saying goes - when one door closes, another door opens. That next job offer is right around the corner.

Do you believe it?

9 Things You Should Do Immediately After Getting Fired or Laid Off