Ways To Cope With Job Loss Or Career Setbacks

In the year 2024 itself, 619 companies laid off a total of 151,484 employees. Isn’t that scary? While we all dream of having the perfect jobs and while we may get one, reading constant news about layoffs or listening to rumors about terminations by colleagues can be overwhelming. Although job security can never be guaranteed there are many reasons like lesser company revenue, economic downturns, poor performance and in today’s time even the replacement of humans due to AI can lead to job loss. However, If you are someone who is facing job loss or career setbacks then you must think of it as a temporary problem that’s in hand than looking at it as a permanent failure. In circumstances like this with the right approach you can easily cope with job loss and come back stronger.

Here’s How To Cope From Job Loss:

1. Acknowledge and Process Your Emotions: Losing a job can be hard especially in today’s economy. It can make you overwhelm and cause a lot of stress and anxiety not just to the individual affected but to the family as a whole. It can make bring about a lot of mixed emotions like anger, shock and sadness. Yes going to work in a cheerful mood and coming back with something that is not expected comes as a shock especially if you are already dealing with other problems.

Although, in these times it is important to acknowledge these feelings instead of suppressing them. Accept the fact that what had to happen has happened and try seeing the positive side that something better is in store for you. It could be a new job, a business plan or even chasing a different goal by pursuing a new field or hobby. Take it in a positive way rather than constantly blaming yourself due to the situation in hand. In such times it is important to talk to your family members, friends or therapist about how you feel, what to do next, your future plans rather than focusing on the past.

2. Keep Track Of Your Finances: Financial security is a major concern after job loss. One will fear and having anxious thoughts of “how will I pay my bills”, “take care of my family”, and various other personal and financial thoughts run through your mind. In such cases first sit down and note your savings and expenses, keep aside few savings for emergency situations. In these situations cutting down on unnecessary expenses, and creating a budget to sustain yourself until you find a new opportunity is important. If eligible, apply for unemployment benefits or financial aid programs to ease the burden through government sites or any other financial means. You can also always take up small part time jobs or freelance work just to pay the bills or keep the house running.

3. Communicate and Network– Let your professional circle know about your situation. Reaching out to former colleagues, mentors, or industry contacts can open up new opportunities. Attend networking events, engage on LinkedIn, and explore job fairs to increase your chances of finding a suitable position. Also, stay updated on social media and career sites or search brand pages for any new openings.

4. Keep Yourself Engaged– An empty mind is a devils workshop we all have heard of that saying. In times of situations where we have no control, this phrase comes true. We let ourselves consume the negatives and often hear people talk not so good things. In such situations avoiding these thoughts and staying focused on yourself is key. One can cope with this loss by keeping themselves busy by taking up new hobbies, volunteering or learning new skills.

5. Create A Good Portfolio– Whilst you are hunting for a new job, remember that a well-structured resume and portfolio can make a huge difference. Update your resume with recent achievements, refine your LinkedIn profile, and highlight your skills and experiences to attract potential employers. Take up new courses and gain certificates and badges that can benefit you further in your next role!

6. Start Freelancing or Take Up Part Time Jobs– Begin actively searching for new roles that match your skills. Consider freelancing, part-time jobs, or temporary gigs to maintain financial stability while looking for a long-term position. Upskilling or taking online courses can also enhance your employability.

7. Reach Out For Help – Don’t hesitate to ask for support from friends, family, or career counselors. Many organizations offer job placement assistance, resume reviews, and interview coaching. Seeking guidance can help you gain clarity and direction in your job search. Reach out to people from different organizations or friend circles or join employment groups to find the perfect match!

8. Focus on your health and mind– Losing a job can be mentally and physically exhausting. Rather than spoiling your health by taking ample stress and not taking care of your body. Prioritize self-care by maintaining a balanced diet, staying hydrated, exercising, and getting enough sleep. Also practice mindfulness, meditation, or yoga as it can also help manage stress. Visit a park or get out for a stroll to feel fresh and have a calm mindset.

9. Plan A Small Getaway– Sometimes all you need is to stay in nature, plan a small one day get away, keep your body moving so that you are distracted and not focus on one thought repeatedly. A change of scenery can be refreshing and a break is always needed to escape those thoughts and daily struggles. Physical activities like hiking, walking, or outdoor sports can uplift your mood and provide a fresh perspective. Plan a one day hiking trip, an outdoor picnic or visit a nearby cafe, beach and garden with your friends and family to spend ample time enjoying good food, music and great company!

Yes, losing a job or facing career setbacks can feel overwhelming, but remember it’s not the end of the road. With patience, resilience, and the right mindset, you can turn this phase into an opportunity for growth. Stay positive, keep learning, and trust that a better opportunity is on its way.