When You Lose Your Job…here’s what you should do next:
1. These days lots of people are getting in the same boat with you.
2. Start to recognize that losing a job is not the end of the world
3. If you play your cards right, losing the security of a job can open up life-changing opportunities (read The Dream Giver).
Don’t get angry at your boss or say negative things about them in the future.
1. You need them to happily serve as a positive reference for future opportunities.
2. He (or she) is probably not happy about laying you off.
3. They are probably worried about being next and would like to have a good reference from you.
4. If they were bozos, what does that say about their decision to hire you?
5. If you knock them as employers, what does that say about what you will say about those who believe in you in the future?
Tell your spouse
1. Don’t hide the fact that has actually happened – word will get out.
2. Hopefully you have previously alerted them to the possibility
3. Notify them ASAP by phone or in person.
4. Cry together – then work together to get through this.
Tell your kids.
1. Reassure them but be honest.
2. Tell them you have a plan in mind to get the family through this.
3. Your spouse and you will discuss this plan with them soon.
4. You will try to keep this from disrupting their lives if possible – but expect that some things that will need to change for awhile.
Work as hard as you ever did until your last paid day.
1. Don’t slack off.
2. Leave a legacy of hard, smart work.
Fill yourself with positives – no matter how much you hurt:
1. Have a morning “Quiet Time”
2. Listen to Christian radio
– Bott Radio Network (FM 89.3) – “A month of Sundays in a morning”
– Music that uplifts
3. Listen to Books on Tape
4. Get around other (positive) people
– Your natural inclination is to be embarrassed, hide out and get depressed. Don’t.
– Attend a Joseph Project meeting to learn from others what to do next.
– Go to networking events
Develop a new Financial & Lifestyle Plan – with your spouse
1. Evaluate the severance plan your employer will provide
– Severance pay
– Health Insurance – understand COBRA
– Outplacement services
2. List your financial Resources
– Severance pay
– Liquid savings (non-IRA assets)
– Long Term Savings (be careful – this is VERY expensive money when cashed in early)
– Spouse income
3. List your monthly expenses to start prioritizing what has to go.
4. Consider using on-line resources to help
– Dave Ramsey
– Crown Financial Ministries
Develop your “Opportunity Development Toolkit”
1. Polish your Contacts list and update it – but don’t call anyone yet.
2. Update your resume
3. Draft your “Elevator Speech”