What to do if you’re laid off or quit your job

Career milestones often serve as defining moments in your professional journey, which can shape both your personal growth and future ambitions. Losing a job or quitting can be challenging and transformative experiences. Here’s a quick guide to help you through these events.

Getting laid off

1. Stay calm and get informed: After collecting your thoughts, request specific reasons for the termination, understand any severance or benefits you’re entitled to and ask about unused vacation days and other pay owed. This is also a good time to ask about health insurance and retirement fund options.

2. Get documentation: Collect essential documents, such as the termination letter, severance details and any agreements you signed when you were hired.

3. Review your budget: Look at your savings, budget, and potential unemployment benefits to evaluate your financial situation and plan for the time it may take to find a new job.

4. Apply for unemployment benefits: Many laid-off people qualify for unemployment benefits, so be sure to check your state’s filing guidelines.

5. Update your resume and profile: Refresh your resume and online professional profile to focus on your skills and accomplishments.

6. Reach out for support: Lean on your network to discover new job leads. Tell your professional colleagues and friends you’re looking for new opportunities.

Quitting your job

1. Put it in writing: If you haven’t already, send a formal resignation letter to your employer to keep your departure on record. Be brief and professional while expressing gratitude for the opportunity.

2. Gather essential documents: Collect necessary paperwork, such as benefits information, retirement plan details and any personal files saved on your work computer. See if you’ll receive a final paycheck, an unused vacation payout or any other benefits.

3. Review health insurance and benefits: Look into options like COBRA if you need coverage between jobs. It’s also helpful to understand how your retirement accounts will transfer or remain accessible.

4. Plan your finances: Assess your financial situation to see how long you can comfortably manage without a steady income. Create a budget, if necessary.

5. Take time for self-reflection: Use this period to consider what you’re looking for in your next role and what you’d like to change or accomplish in your career moving forward.

6. Update your digital profile and resume: Refresh your resume and online professional profile to focus on your skills and accomplishments.

7. Strategize your next steps: Decide whether to start job searching immediately or if you need a brief break before diving into the search for a new opportunity. Also, explore any educational opportunities or certifications that could build up your qualifications.

8. Research potential employers: Make a list of companies that interest you. Research their culture, values and recent news. This will help you target your applications and prepare for interviews. Customize each application to the description, emphasizing how your skills meet the specific requirements./Tribune News Service