You’ve been laid off! Now what?

I am aware many companies considered giants of industries in Nigeria today are laying off thousands of staff. What I wasn’t aware of, was that even the “very giant” multinational oil and gas companies are following suit. Such companies lay off staff and pay them huge settlements to compensate them and prevent law suits.

So, what do you do when your well planned 8 to 5 life is cut short before you hit 40 by a challenging economic climate? It’s not so easy to answer, but there is a way out of everything.

Let’s start with your savings. People save money for many different reasons. Some save towards a spending or investment goal and others save for long term investment or without ever planning to touch the savings until retirement or after death.

The savings angle comes in handy just in case you have been laid off and do not work for a company that offered you a huge settlement. Either way, you have some money in the bank. No matter how small, it can achieve and build something.

I do not believe everything happens for a reason. I do believe however, that “big” events in life, like being laid off unexpectedly do happen for a reason. I believe the first thing to do is to keep your options open.

Yes, people have reports of gloom and doom and you should know, guess what? You’ve just been laid off. But there might just be another job opportunity waiting for you. I have said it many times. Not everyone is cut out for private business ownership, no matter how small scale.

So dust up your resume, update your LinkedIn profile and network online. Don’t let the present disappointment close your eyes to what might just be a great chance to a more rewarding life.

After that, you need to read about people who have been in similar situations. Google makes everything easy to find nowadays. Try looking for a book that encourages women who were suddenly divorced by their husbands and left to fend for their kids without jobs or provable skills. You might frown on this, but you are in a similar situation and the best strategies are those that can be diffused and adapted to many different situations.

Then, you need to take it easy. Take a couple of weeks to enjoy the new found freedom and do the things you always said you would do if you had the chance and didn’t have to report to work so early each day. Stay up late at night and relive your school days when you were young and unburdened.

Get together with family and friends you haven’t seen in a while. Bring dormant relationships and acquaintances back to life. The greatest breakthroughs come when we are relaxed and doing things we have never done before.

Look inward and consider the things you can do to make money for yourself. Begin without the money angle and try your hands at offering those services for free. Teach, mentor and advice people. Many churches have such programmes for free and are open to experienced hands facilitating them. Don’t take your knowledge or expertise for granted.

Are you an accountant? Offer free Microsoft Excel training. Are you a communications expert? You will be surprised the number of people that will benefit from lessons on corporate writing.

If tutoring isn’t your thing, you can take whatever love you have outside of your training or experience and turn into a business. Just remember that it’s step by step and that Rome wasn’t built in a day.

Do not be ashamed of being in between jobs. It’s only temporary. I wish you all the best.