Getting laid off is a traumatic experience for anyone. It can be devastating to lose a job, especially if it’s due to no fault of your own. Being made redundant as a result of a mass layoff can be particularly difficult to deal with, as it often comes as a shock, and it can be difficult to know what to do next.
When you’re out of a job, you struggle to plan your finances. Things become harder if you have loans to pay off and a family to look after. You also need to pay rent and mortgages and attend to a lot of other things that require your financial input. At the same time, there’s also the mental stress of having to cope with your unemployment and all the financial burden you have to deal with.
However, even in such dire times, there are several steps you can take to protect yourself and your interests after being made redundant by your employer. Here are some tips to help you get started.
Start by Taking Care of Yourself
Being laid off can be a stressful experience, both emotionally and financially. Take a break and give yourself some time to process the news. Talk to friends and family for support. Try to maintain a regular routine, including exercise and a healthy diet.
Taking care of yourself will help you stay focused and positive as you move forward. It will also allow you to stay calm as you plan what you need to do next.
Understand Your Severance Package
When you are laid off, your employer will likely offer you a severance package. This is a one-off payment that is intended to help you during your transition to a new job.
It’s important to understand what your severance package includes and what your rights are. Ask your employer for a written agreement outlining the terms of your severance package. Review the agreement carefully and make sure you understand what you’re entitled to.
You should also go back to your hiring or latest contract and see if that includes anything about the severance. As long as you are happy with the payment or it meets the conditions of your contract, it should be fine.
Hire Lawyers to Reach a Settlement with Your Employer
If you have been laid off due to a mass layoff, you may be entitled to compensation beyond your severance package. In some cases, employers may violate the law when they lay off employees. For example, they may fail to give proper notice or discriminate against certain groups of employees. If you believe that your employer has violated the law, you may want to hire lawyers to help you reach a settlement.
A lawyer can help you review your severance package and determine whether you are entitled to additional compensation. They can also help you file a claim with your state’s labor department and reach an agreement with your employer where both parties will resolve the matter once.
If not directly lawyers, you can reach out to settlement agreement employment solicitors. They can help you with settlement negotiations and are also not that expensive to work with. To get an understanding of the costs, you can take the Settlement Agreement’s service charges as a benchmark.
The company can help with advice and negotiations of settlement agreements for around $123 to $246. In most cases, these costs get covered by the employer’s contribution to the settlement, which means you don’t really have to put in extra money from your end. Expect to pay the same in your case as well.
Update Your Resume and Network
While being laid off can be a difficult experience, it can also be an opportunity to explore new job opportunities. Start by updating your resume and reaching out to your professional network. Let people know that you are looking for a new job and ask for any leads or referrals they may have.
Attend job fairs and networking events in your area. The more people you talk to, the more likely you are to find new job opportunities. Plus, don’t hesitate to reach out to your connections and look for opportunities on LinkedIn. The community there is very helpful, and you can rest assured that you’ll surely find a few leads there.
Apply for Unemployment Benefits
If you have been laid off, you can apply for unemployment benefits. They have been specifically designed to provide you with financial assistance while you look for a new job. You can apply for unemployment benefits through your state’s unemployment office. The number of benefits you receive will depend on your state’s rules and your individual circumstances.
Losing your job during a mass layoff is never going to feel easy. However, it’s important that you stay put during this vital transition in your life. Thus, stick to the suggestions discussed above, and you’ll find it relatively easy while making it through this transition.