Getting laid off is a cumbersome situation. It not only hammers financial stability but leaves a dent in self-esteem too. So, getting your engine back on track and finding a new job is necessary. However, there are a few things you need to take care of. You must give yourself time and think about setting up your professional life. How can you get your confidence back? And, what should you say to potential employers about the layoff?
We will get to know all of it in this in this article. But, before discussing what to do after getting laid off, let’s quickly look at how to identify if you will get laid off.
Tech company layoffs in 2022
Tech companies have gone through global economic deprivation. It slowed down their growth and led to a widespread layoff even if some fields of business IT investment appeared steady from the outside.
According to studies by TrdeUp, there have been around 1138 round-offs in 2022, affecting 182,605 employees.
Initially, when the tech companies got the signal of an economic headwind, they started putting a break on any new hirings. The war in Ukraine, the rising fuel prices, supply chain issues, and the downfall of personal PC sales have concretized the probability of lay off in tech organizations.
During the end of the financial year, companies revisit their budget and re-evaluate the headcounts. Every year, thousands of employees face this situation. This year also, companies will be planning to lay off many of their employees.
By the end of the year 2021, most of the tech companies and companies belonging to other fields went through a tough time. If your company, too, went through the adverse effects of a pandemic, they must look for a cost cut. Employees are the overhead cost for companies.
Even hard-working employees can become a target despite performing exceptionally well. People may need to recognize that the end is near due to unacceptance or wishful thinking. Employees frequently need to determine what to make of the indicators they observe.
Whether you are an individual or in a group, the signs of layoffs are always the same.
● Revenue-generating work starts disappearing.
● You or your team start getting fewer follow-ups and attention from the seniors.
● There is a discrepancy between internal company reports and investor or earnings calls regarding performance.
● Rarely do you or your team’s leaders receive feedback from or face time with superiors regarding matters crucial to your team’s performance.
● You and your team lack directions.
Coming to the point about how you can bounce back from a layoff. We will look at what steps you must take right after a layoff.
It is acceptable that being laid off is not something to be happy about. It is a complex phase, and that is a fact. This phase, though, came as a challenge to you. You can be sad, and it is appropriate to do so. But you can see the silver lining of this black cloud. You can take it as a productive break from work.
Take some time off for yourself. Your ultimate goal should be to get out of this phase. Refrain from making any big decisions in that phase of time. Please don’t rush into the job market in search of it and take whatever position they are offering. Even after a lay off, you must not compromise your worth.
It is a tough time for your mind and your financial condition. Getting a tab on your financial condition is critical. It will help you get control of your anxiety and stress.
Experts suggest that assessing your household expenses gives you a foundation to think further. Make a check and balance on where you have to spend and where you can cut the expenses. You must involve your family in this endeavour if they are financially dependent on you. Take their opinion and then only come to any conclusion.
It is a phase where a lot must go on your mind. You must be feeling stressed, anxious, and angry. Feeling all this is very natural. But it is also essential for you to talk those things out. Share whatever is in your mind with someone close to you. It will help you to be physiologically active and stable. If you go to the recruiter without clearing your mind, it will negatively impact your interview.
Think and work on creating an explanation of your layoff. You can share it with professional contacts and potential hiring managers. Try writing a short, objective, and upbeat message to the potential employer. Do not try to make yourself a victim or a stuck. Have a clear mind and show your potential and the skills that make you a promising candidate.
After getting laid off, it is very obvious that you stress about what the future holds for you. So, getting negative thoughts and feeling flat is also obvious.
The best solution to keep these feelings far away is to keep yourself surrounded by positive-minded people. The people who can motivate you, give you the right suggestions, and keeps your mood light. You can also contact your mentor, former colleague, or anyone from your professional connection.
But the crucial thing here is to believe in your wings, that you can fly again. One drop cannot justify your failure. So, have faith in your capabilities and upskill yourself. Losing your confidence is your failure, not being laid off.
After this layoff, you need to get yourself updated. Since the technical world changes and you are a part of this industry, you also need to adapt to this change. After that, try to think broadly about your job hunt.
Make contact with previous coworkers and acquaintances employed by businesses that interest you. Speak with them to learn about the newest problems and terminology. A headhunter comes to mind. Check whether joining a professional organization is worthwhile.
In between doing all this hustle, your health is most important to you. It is being said that looking for a job is a full-time job. But only be in front of the computer screen during the day.
So, get your schedule on track. Exercise, eat healthily, and try getting plenty of sleep. Keep your spirits and energy high. Though take a calculator of your finances, try to have a light and fun time. You can only bounce back and work even harder in your next job after a good break.
● Make a clear picture of where exactly you stand financially. Then, calculate your household spending keeping a check on your savings and unemployment benefits.
● Graph a simple and convincible reason behind your playoff to present before the potential employer.
● Be with people who have a positive attitude. So they can push you to the right path.
● Even if you feel low after the layoff, contact the other employers. Even if you have no contact, get help from friends and colleagues.
● Go and check the job market. Instead, you can interact with intellectual minds and unravel new opportunities.
● Neglect your health and mental stability. Instead, you can take this break with a positive attitude. Eat well, exercise, and take healthy naps.
Getting laid off is something not in your hands. But getting up and rising from that downfall is what you can do very efficiently. What you can do first is first accept reality, express your feelings, loosen the grip of stress and anxiety, and bounce back again. Remember that this layoff is just a mindset back for your career.
You keep the potential to achieve bigger goals. Do not let that one setback define you. Instead, take lessons from your previous mistakes, and eradicate them all to give your best performance in the next job.
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