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Sunday, 25 April 2021

How to deal with an unexpected job loss in the Covid-19 crisis?

Deal with unexpected job loss in the Covid - 19 crisis

The Corona Virus is creating job uncertainty and be prepared for the same so that losing job doesn’t come as big surprise for you.

If you lose your job then you may feel shocked for a minute to lose your identity, salary and good colleagues. It’s normal. But if you prepared for the same then you can accept it more easily and plan for emergency fund, cut unnecessary expenses, open additional income channel and also can accept the truth that thousands of other workers are losing their jobs too.

I will share few useful tips which you may find very useful as this can happen with anyone in the upcoming phase.

Plan for emergency fund:

If you still haven’t plan for the fund then plan immediately at least for 3 months and continue increase its size to 6 months and more. Tell your family members to reduce his/ her expenses and think about the ways you could begin generating income immediately.

Revamp your resume:

Update your resume with recent position and experiences. Your headline should be included with the role and your expertise. Please also update LinkedIn profile with the skills and experiences.

Evaluate yourself and improve your skills:

Take time to evaluate yourself and find out which ones are most valuable to employers now in your field and start improving your skills on it. Start checking job listing about what is going on in the market and where are the opportunities available.

Stay in touch with everyone:

This is good time to connect with your network. Make a list of your friends and consider who would be good to use for a reference and keep in touch with them. The pandemic situation may affect your friends/ colleagues so you also have the responsibility to support them from your end and share the knowledge what you have about how they can handle the situation.

Stick to your schedule:

Follow your plan consistently and don't be discouraged as you may not get success immediately what you are looking for or you can hear that companies are not hiring. But the fact is, still some of the companies are hiring in large numbers.

I will recommend at the end - look for ways to open additional income channels to avoid cash flow problem.

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