There have been so many economic disruptions these last few years, we at Labor Solutions definitely sympathize with the many workers who are feeling uncertain about what the future may bring in terms of their job stability. Even when you do everything right, sometimes misfortune still strikes. Being laid off can come as an unpleasant surprise to anyone, but you can — and will — survive and thrive afterward.
Your Next Step
If you find yourself facing a layoff, just remember that it’s not the end of the world. It’s wise to take care of a few details as soon as possible to ensure your financial stability. If you are given paperwork to sign, take time to review it carefully, with a legal advisor if possible.
First, if your employment included such benefits as health insurance or a 401k retirement plan, you need to check what’s going to happen with those. Make some calls or go online to figure out how long your insurance coverage will last, and see whether you are able to let your retirement funds stay where they are or if you need to move them to a rollover IRA or even cash out.
Check with human resources to see whether you can get a “layoff letter.” This type of document is helpful when you start your job search because it provides evidence that you were truly let go because of circumstances beyond your control and not fired. Carefully read any documents you receive to make sure there are no errors or omissions.
Finally, do your due diligence by inquiring about a severance package, and then file for unemployment. Take advantage of these resources to help provide some financial cushioning while you start looking for a new job. When you begin your job search, be sure to register with Labor Solutions right away.
You’ll Be Back on Your Feet in No Time
Whenever misfortune knocks you down, do your best to dust yourself off and get up with a positive outlook. Labor Solutions is always here to help you maintain financial stability, so just let us know when you need us.
