Knobull Helps Workers Survive A Layoff

BOSTON - March 4, 2023 - PRLog -- Lynn Bentley, President of Knobull reported, "Layoffs are an uncomfortable reminder that many of us serve at the pleasure of the companies we work for. Here's how to survive—and even thrive—a layoff."

Batten down the hatches

If you are worried about a layoff, there are several things you can do now to make your potential unemployment easier:

Know your rights

Layoffs can come suddenly and without warning, but depending on the size of your employer, that may be illegal. The Worker Adjustment and Retraining Notification Act requires workplaces to provide no less than 60 calendar days' advance written notice.

Beef up your emergency fund

All the standard financial advice recommends having an emergency fund equal to three- to six-months' worth of expenses.

When the ax falls

Even if you know a layoff is likely, the reality of losing your job can be unexpectedly stressful. Keep a cool head and follow these steps to make the process as smooth as possible.

Take some time before signing

Reacting first and asking questions later may be a very human response to a layoff. No matter how much time you take before signing, the waiting period will give you a chance to read through the all the layoff documentation.

Negotiate your severance

Your workplace is under no legal requirement to offer you a severance package. But most companies provide some form of severance.

After the layoff

It's natural to feel panicked about what will happen next, but these strategies will help you stretch your money and reduce your job-hunting time.

Budget the right way

Yes, you do need to reduce your expenses after a job loss. But instead of adopting austerity, cut your spending from easiest to hardest.

Work your (social) network

One of the best ways to find new opportunities is via social media. Announcing your change in employment status online gives your network a chance to offer help and amplify your message. Get help updating your resume by tapping JobStars at the Knobull homepage.

Getting back in touch with old friends and colleagues, online or IRL, can also help your job search and your mental health. You'll have a chance to reconnect and put out more feelers into the world of work.

Take care of your biggest asset

Exercising, socializing, and otherwise taking care of your mental and physical health should be a priority while your job searching. Get career coaching assistance from a service like JobStars to speed up your success finding a new position.

Bentley concluded, "Getting laid off is no one's idea of a good time, but it also doesn't have to be a disaster. Planning ahead, doing your research, getting help with your career search and making intentional financial choices can all help you get to the other side of a layoff in one piece."