Losing your job is probably one of the worst feelings ever, especially in this economy where we’ve seen the effects of inflation — grocery items are at an all-time high (eggs anyone?) and interest rates have skyrocketed.
We can relate to the stress that comes with it, the feeling of uncertainty and the question of “what did I do wrong?” So, if you’ve recently been laid off, these seven steps can help you recover and bounce back, according to Psychology Today.
Try not to worry about finances
Worrying about your finances can cause needless extra stress. If you have some savings, set a budget for your weekly expenses and make sure you stick to it. Unemployment benefits like EI (Employment Insurance) and severance packages can also help you in between looking for jobs. Psychology Today highlights that making your career move is much easier when you’re not worried about money.
We know that this isn’t possible for everyone and letting go of that stress is harder than it sounds, so if you need a little help making ends meet over the next little while, here are some budgeting tips to get you started.
Take a break
Since it takes time to process (and grieve) a job loss, it’s a good idea to turn this into an opportunity to take time for yourself if you have the means. You can visit family or friends and engage in better self-care. According to a study on mass pandemic layoffs, losing a job has some negative psychological effects, but improving physical health, relaxation and self-care makes it better.
See also: 20 Canadian jobs that pay more than $300K.
Reach out to your support system
No one knows you better than your closest circle. Reconnect with friends, family and mentors. Your support system will remind you that you have so much more to offer in your next job. A social support system can help buffer negative effects and feelings after a job loss.
Question what you want in your career
Use the time that you have to reflect on your career and what you really want. If this means making a career switch you can absolutely go for it. Maybe you’ve always wanted to try a side hustle but didn’t have the time to pursue it —well, now you can.
Related: Top 10 side hustles for Gen Z in 2023.
Learn some new things
This is the perfect opportunity to try and learn some new stuff. It’s a good idea to step out of your comfort zone and develop new skills. Take a course, read books or enroll in a boot camp — there’s no better time to do it.
Apply for jobs, but don’t let it consume you
It’s easy to get carried away, spending your day endlessly scrolling through job boards and sites like LinkedIn and Indeed, looking for open positions. But, when it comes to applications, it should be quality over quantity. This is your opportunity to rethink your career trajectory and only apply for jobs that are genuinely exciting to you.
Network, network, network
It may be a little scary but don’t be afraid to put yourself out there! You can turn to your network of former colleagues and friends to find out about jobs, and they can introduce you to potential employers. Make sure to follow up on each conversation around any new job possibilities.
No matter what happens, take a deep breath: you got this.
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