Job Loss Survival

Unemployment Strategies

Nov 14, 2008 Beverly Lee

The country is in the middle of a recession and unemployment is at an all time high.

Thousands of individuals are losing their jobs each and every day. The first step to survive a job loss is to step back and take an unbiased look at the situation as if you were a stranger. Watch for the signs that the company is headed toward a major lay-off which might involve hundreds or thousands at the company. Determine the steps necessary to make the career transition from full time employment to unemployed. And determine a way to survive on less income. Here are a few timely suggestions:

Money Wise Family Budgets

  • Pay down all debts when you suspect a lay-off. This will reduce your monthly bill payments. Get the family involved. Tell them about the job situation and focus on planning a family budget together.
  • Start saving extra money to pay basic living expenses for the family. Bills to focus on include: the mortgage, rent, insurance, utilities, food, car payments for a minimum of 3 to 6 months. Save more money if possible. Deposit this money into an interest bearing savings account.
  • Reduce Daily Expenditures. Only buy the necessities. Cut back on frivolous items like manicures, pedicures, haircuts every week. And too many clothing purchases, trips, vacations, concerts, movies,
  • Avoid impulse buys at the supermarket. These purchases will add up and break the budget.
  • Once a major job slash is on the horizon start looking for part time work. One good idea is to make sure the part time gig will not interfere with the full time job. When the lay-off happens the part time job will cover many basic living expenses.

Career Focus

So, the rumor is the company is about to cut back. Now is not the time to let your resume collect dust in the corner of a desk drawer. Review the resume and add any newly acquired skills, experience, or education to the resume. This updated resume will surely attract new job opportunities. Join unions, social groups, in the industry. Attend meetings regularly. Introduce yourself to all the members. Make sure to get acquainted with each and every person. And these social contacts might lead to new job opportunities.

Insurance Benefits

Know health benefits and how much any insurance policy will cover in the event of a job loss. Know how much it will cost to continue the coverage. Investigate federal assistance programs that provide medical coverage plus any other options currently available. Determine eligibility, exactly how to apply for unemployment, amount of benefits, and the length benefits will be provided.

Future Career

Use the unemployment period to finish a degree, to improve skills or even change to a career with better pay and stability.

And finally, don't let pessimistic behavior take over. Think of this situation as a time to sit back and rethink your career goals and then move forward.

The copyright of the article Job Loss Survival in Workplace Culture is owned by Beverly Lee. Permission to republish Job Loss Survival in print or online must be granted by the author in writing.
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