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What To Do When You Lose Your Job

Do this when you lose your yob

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What To Do When You Lose Your Job

What To Do When You Lose Your Job

Losing a job unexpectedly is the worst experience in a career, especially, when you are not at fault. The development comes with lots of challenges that you have to manage. The key challenges that you face after being jobless all of sudden are – managing finances regularly to pay living expenses, arranging funds to repay the existing debts, and getting the job at the earliest. Your savings may help you in managing the living expenses and for paying out monthly bills for short-term; also, you have the option the take an unsecured short-term personal loan from online direct lenders even if you have a bad credit score. So, the most critical challenge you are left with is to get the job.

How to Get New Job after Losing Current Job:

  1. Acknowledge the emotions to move on:

Just after getting ‘quit the job order’, you experience a variety of emotions on different grounds. Saying goodbye to a regular paycheck, fixed working hours, patterned lifestyle, position/status in the company, colleagues is the complex challenge that you need to manage with confidence at first of all. Giving yourself some space and time to grieve will boost your confidence to struggle and manage in new conditions.

  1. Check on health insurance options:

Health for all becomes a critical concern, especially, when you are out of a job. Check with the manager or Human Resources department about the options for getting health insurance coverage and investigate the reasonably priced other options also to continue getting health cover without any compromise with existing facilities.

  1. Work on a personal budget:

Yes, it becomes more critical during unemployment. The unemployment benefit check is less than the paycheck; therefore, you need to reduce the monthly expenses also. Using credit cards less, avoiding outdoor eating, minimising the shopping, avoiding parties, selling unused gift cards, selling redeem points that you get for shopping etc. are some easy to follow tricks for managing your monthly budget.

  1. Apply for unemployment benefit:

There are three types of Govt. sponsored benefits for job seekers – new style, income base available contribution base. Check your eligibility at JSA portal of UK Govt. The new-style jobseeker’s allowance is provided for a maximum of six months. Besides getting weekly payment into your account, you must apply for the tax relief also.

  1. Explore the option for getting Universal Credit Payment:

Universal Credit is a single payment financial help for the people in financial crisis because of losing their job unexpectedly. Whether you need it or not, you must explore the chances and ways of getting this tremendous financial help that is reasonably priced. The amount of financial support is fixed considering different particular in current circumstances.

  1. Google your professional profile and yourself:

Most of employers and HR professionals highly rely on Google to find the professionals of their liking instead of publishing ads in local newspaper or job websites because just a single search gives numbers of references of suitable candidates. Search your name and professional profile status on Google and see the situation. Make sure everything comes up to notice that you want to showcase.

  1. Update your profile at all the portals:

Having a professional profile at multiple platforms is nothing new. After losing your job, you need the update your profile immediately so that the recruiters can see your latest status. Wherever you have posted your profile, keep it same because the different patterns at different portals confuse the recruiters as well as bring your authenticity under doubt.

  1. Update social media accounts:

The growing power of social media can’t be ignored. Update your professional status on all the social media platforms including one of the most explored profession oriented social media channel – LinkedIn. Telling about your unemployment status is also not bad; it brings you into the notice of more people offering the job.

  1. Get references:

If you are asked to leave the job because of no fault of yours but because of other reasons a company’s side, you change ask the employer or senior manager for strong reference. Line up the few recommendations and share with a professional profile on social media. Requesting your colleagues for posting the references in your favour is an excellent way to empower your professional profile.

  1. Target to attend at least 2 interviews per week:

Although the jobless rate in the UK is coming down year after year, it doesn’t make your task of getting a suitable job at the earliest any easier. Target with a time frame is the base to succeed in any profession; therefore, you must focus on attending at least 2 interviews a week. Don’t mind if you are asked for two interviews for one job.

Related: 8 Tips to Make Job Change a Grand Success

  1. Prepare more impressive cover letter:

The recruiters have very little time to go through your profile and cover letter; most of the applications are screened quickly giving just a few seconds to assess each application. Therefore, you need to support your candidature with a specific cover letter highlighting your extraordinary achievements and excellence.

  1. Use the unemployment period for the betterment of skill:

You never know how long would be the unemployment period. Better, you use this period to improve your professional qualification or ability by attending an online short-term course or training. Analyse the more in demand specialisation courses about your career, and join the best promising to improve the job getting and earning potential.

  1. Clear all your dues with the company at the earliest:

Once you are out of a job with a company, it is better to clear all the contributions at the earliest. Involvement of a previous company because of any reason when you are working in another company is not suitable for your career. Even if you have a personal loan connected with that company’s wage account, pay it incomplete or transfer it to a personal saving account.

Concluding Note:

Once you are established in particular living standard, it is tough to adjust it downward. Not to eat your retirement saving becomes a challenge but you need funds to meet our regular expenses. Plan the budget to minimise the costs and explore the possibilities to manage finance during the unemployment period. You can focus on job hunting only if you are mentally relaxed.

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Katherine Sykes is the BlogOnFinance lead author, specializing in Finance and lead gen. As a lover of summary, she's going to stop writing before she reaches her words count maximum.

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