It was a beautiful morning when Vikram walked into his office with a cup of steaming hot coffee. He worked for a tech startup, and that morning there was going to be an important announcement. The employees were expecting the founders to reveal the destination of their next offsite. But they were in for a surprise!
The founders instead revealed that the funding they were banking on didn’t come through, and hence they would have to let go of a few key people. As it turned out, Vikram was one of those people. When he heard the news, it didn’t make any sense to him. He was just given a promotion a few months ago, and the founders had spoken to him about a great future at the company.
But now he had to deal with the reality of the situation. After the initial shock, panic set in and he didn’t know what to do. Questions such as what next, how to find a job, etc. started swirling in his head. He was also embarrassed about the situation. This is when his partner stepped in and helped him take a step back, relax and tackle the situation.
If you ever find yourself in Vikram’s situation, here’s what you should do:
Manage your emotions
Such a piece of news is never easy to handle. Remember, it is not the end of the world. Try not to freak out, or rant to other employees. This will only show you in poor light. Get a grip on yourself and stay calm. Just as no employee is indispensable, no company is either. You will find another well-paying job that will help take your career to newer heights.
Be honest and transparent
This is the time you need a support system around you. Share with your friends and family how you feel. These people will play a key role in keeping your morale up, self-esteem intact, and ensure that you don't engulf yourself in self-pity or become a loner. These things happen, and there is nothing to be embarrassed about such situations or incidents.
Take time to breathe and relax
Think of this as a well-deserved break, even though it was not voluntary. This is your time to breathe, relax and give yourself some time to regroup. Don’t rush into planning mode yet. Meditate, spend time with your family and pets, visit friends…slow it down a little bit.
Revisit your budget
After you have had some time to yourself, revisit your budget and savings to see how you can optimise your expenses as well as meet your liabilities. Sit down with your partner and chart out how you will pay for your house expenses, bills, fees, home loan, car loan, or any other such expense in the interim period till you find your next job. Dig into your savings – this is the rainy day you have been saving up for.
Remember to assess your credit card debt and plan wisely for its repayment. If you need expert tips on how to manage your credit card debt smartly, visit Chqbook.
Systematically plan ahead
With a level head, start looking at your job options. Talk to friends in the industry, consultants, former bosses, etc. to get the word out. Narrow down on a few companies and aggressively pursue them. Meet as many people as possible as you never know what may click when.
While you start your job hunt, there is no point being cooped up at home waiting to hear back from companies. This is an excellent opportunity to take that vacation you never seemed to get time off for. Book your tickets and take off. Travel solo if you can. It is a great way to heal, feed your soul and re-energise.
Rediscover your interests
Pick up the book catching dust in your bookshelf and read, join a photography class, plant a garden, get a hold of your cricket bat or wear your dancing shoes – rediscover your interests and do what makes you happy. Life is too short to let it just pass by in a blur.
Being laid off is not ideal, but you can turn it into a life-changing experience that might help you connect with yourself and your loved ones. Who knows, you may tell someone a few years down the line the story of how getting laid off was the best thing that ever happened to you!