Lost your Job? Now What?

Lost Your Job? – Now What

Perhaps for the first time you realize it was more than just your income. You may have also lost your friends, daily routine, health insurance and perhaps most importantly your confidence. Its alright to be hurt or angry as long as you don’t act on your emotions. Take a day or two for yourself. Then you need to create a plan on how to find employment and to manage your loss of income and benefits.

Plan Components

  • File for unemployment benefits
  • Find out if publicly financed health insurance is available
  • Determine if you can afford your past employers COBRA coverage ( the new federal stimulus legislation when passed is expected to cover 65 % of the cost).
  • Establish a home budget taking into account your new financial situation
  • Update and improve your resume (ask your past employer for a letter of recommendation) see “tips” below on how to land your next job
  • Consider moving your retirement funds especially if a substantial portion of them is in your last companies stock and you were let go because they are financially distressed. Contact your financial adviser to assure you move them directly to another qualified plan without tax consequences.
  • Establish a list of possible employers and contact information

TIPS

  • Your resume should be kept to one page use quality “off white” color paper
  • Prepare a brief cover letter for your resume, a list of professional references with contact information (make sure the individuals know you are using them as references and will only say good things about you) and a thank you letter to send after you are interviewed. (spell check all documents and have someone else read it and give you feedback)
  • Let your family friends and other contacts know you are looking for work they may know of employment opportunities.
  • Don’t be afraid to accept a bit less money than you previously earned.
  • Spend a substantial part of each work day looking for that new job.
  • Use the remainder of each work day improving yourself. i.e. Exercise/weight loss, additional work related training, self improvement of computer skills etc.
  • If you still have time on your hands volunteer some time doing something your good at. (who knows it could lead to a job)
  • Make sure you still look good in your interview clothing. Some types of employment may require a second interview so you need two outfits.
  • When interviewed, research the company or agency where your being interviewed; arrive a little early for the interview (no more that 10 minutes); provide them with a firm greeting handshake and one as you leave, keep eye contact with the interviewer(s) during the handshakes and while answering questions; have an easily answered question prepared for them in case they ask if you have any questions at the end of the interview. Remember the interviewer(s) is/are also nervous because they are under pressure to find the best person for the job.
  • Bring to the interview: extra copies of your resume and references, information you need to fill out an employment application, a pen and paper, identification, direction to the interview site and a name, room number and contact phone number for who is interviewing you.
  • Be prepared to answer the question about why you were let go from your last job. Be honest, be brief, and never say anything bad about your previous employer. (be careful you may still be angry)
  • Think about the answer to their question for several seconds before answering, you don’t need to fill the air with unresponsive babble why you are formulating your answer.
  • Be as flexible as you can with the hours of your work day.
  • Tell yourself until you believe it: you are a valuable asset to this potential employer and you will perform any of the duties they have for you with quality work and a smile on your face.
  • You are ready, good luck!
  • If you are in New York State below is a comprehensive web site for government help.
  • Resources for Working Families New York State agencies and departments have many resources available to
    help working families make ends meet. Under Governor Paterson’s leadership the Office of Temporary and Disability Assistance recently created a single webpage for New Yorkers to use when seeking information regarding these services.  Paste this into your browser.
    http://www.otda.state.ny.us/main/workingfamilies/default.asp