How to Find Your Next Opportunity After Being Laid Off

Many industries are currently experiencing widespread layoffs due to market shifts and economic uncertainty. Unfortunately, many valuable employees have been made redundant through restructuring or buyouts.

If you have found yourself in the unfortunate position of being laid off, you might be wondering what the next step is and how you’ll cope financially as well as emotionally. Complicated feelings around being laid off are normal and very understandable; it’s not unusual to feel that you need a period of time to “grieve.”

If you are experiencing a transition period in your career due to a layoff, then we hope our advice below will help you to navigate it. 

Create an Action Plan

Once you go through the difficult emotions that come with being laid off and have had some room to think and process, you may discover that there are now many options and opportunities in front of you. This, of course, is easier said than done in the immediate aftermath. 

Once you think you’re ready, start to come up with an action plan by working through the core factors outlined below:

Financials

The most pressing concern is likely to be your financial situation. Look into unemployment benefits as soon as possible, as some states have different windows for claiming and filing for payments. 

If your former employer offered a severance package, examine the benefits and timeline associated with it: how long will it last, what percentage of pay is included, whether any healthcare benefits are maintained, etc.

Once you have an idea of what you may be entitled to, examine your finances and develop a timeline for finding your next job. If you can, you may wish to factor in some personal time to recuperate before diving back in. 

Setting Goals

Once you have what is likely to be the most stressful part figured out, you may have room to set some new goals for yourself and your career. Think about where you have been and where you want to go. 

Perhaps this layoff is the catalyst you need for a career shift you’ve only lightly considered. Follow that gut instinct and set some new marks to hit. Use this time as a change to explore new avenues to exhibit and grow your talents. 

Even if you decide that the path you were on is still correct for you, determine what your next ideal job will offer in terms of working environment, compensation, or benefits. Then, go for it. 

Re-Entering the Job Market

Jumping back into the job market might look a little scary, especially if you're still feeling a bit burned. Even so, slowly taking those first steps with a goal that excites you could be just what you need at this moment. 

Landing that ideal next job could be a healing experience, so here are the steps you can take to set you up for success:

Step 1: Resumé Building

How’s that resumé looking? It’s okay if it may need some updating, especially if you haven’t been searching for a job in a long time.

Check to see if all your skills highlighted are still your core skills, especially if you’re looking to make a career shift. Replace what is no longer relevant, or what won’t serve your new goals. Do some research and see what requirements are needed for the kinds of roles you want to be considered for. If you have these already, be sure to bring them to the fore. If they aren’t, look into some online classes or other ways to upskill, then revise your resumé after.

Don’t forget soft skills like communication and prioritization. These are increasingly sought-after by employers, so make sure they’re present and easily found on your resumé. 

Step 2:  Leverage Your Network

It’s likely the company layoffs did not start and end with you. Reach out to some peers that you’ve built relationships with to see how they’re doing and see what plans they have. Perhaps some have already found a great new opportunity and have some advice or even a contact to introduce you to.

Connect with professionals outside your previous company, as well. Don’t be afraid to use platforms like LinkedIn to remind people that you’re open to new ventures and looking for the right next step. This could start very productive conversations and lead you to that ideal new job. You may feel uncomfortable reaching out at first, but you’ll find that most people are very understanding and eager to help where they can.

Step 3: Prepare for Interviews

The best way to prepare for the hiring process is to practice. Look up guides on how to prepare for an interview and get back into the rhythm of answering common questions. Practice with a partner, friend, or family member to avoid nerves when the time to meet with a potential employer comes.  

If it’s been some time since you were on the job market, ensure you familiarize yourself with video interviewing. It’s mostly the same as in-person interviews, but there is a learning curve and a couple extra elements to consider. 

Don’t forget to do the proper research before interviews, and come up with questions of your own, as well.

Step 4: Find the Right Recruitment Partner

Being laid off is rarely the shining moment in anyone’s life, but you don’t have to navigate it alone. Partnering with a recruiter through this next step in your career journey chapter will enable you to put your best foot forward. 

Our expert recruiters are well-versed in their market and can identify top performers and high potential candidates. We provide advice and guidance to the talent we partner with through each part of the hiring process, introduce them to job openings they may not have found on the open market, and will advocate for them when speaking to potential employers. This is especially important if you are making a pivot in your career but will be valuable no matter what your ambitions are. 

We know that this kind of career transition is not easy, but finding a new job that excites you when the time is right is a great place to start. 

When you’re ready, please reach out if you’d like to start a conversation with one of our expert recruiters.