What To Do If I Get Laid Off? With Joy & Belma McCaffrey of Work Bigger

On this episode of Financially Naked: Stories from The Financial Gym, our host is Joy Liu, Level 2 Certified Financial Trainer. Joining her today is Belma, a leadership and career coach and founder of Work Bigger. We’ve seen tech companies announce significant layoffs, and with talks of a recession looming, other industries are likely to follow suit. If you’re feeling worried or insecure, this conversation is full of honest advice and tools to help ease your nerves and help you create a plan if you’re laid off or lose your job.

Podcast Notes

  • There have been talks of a possible recession for the last few years. One of the ways companies try to cut costs is by laying off their employees. 

  • As a worker, this uncertainty can be stressful. A layoff, while challenging, can be an opportunity for growth.  

What’s step one if I lose my job or get laid off? 

  • Whether you were expecting the news or not, losing your job is stressful. Pause and take a beat. Acknowledge this is a difficult moment and allow yourself the time and space to process the emotions that come up. 

  • Reflect on the role you just left. Were you happy in that role? Do you want to do something similar, or is it time to pivot? This is the time to revisit your values, interests, and strengths. What allows you to feel connected? 

  • Finding a job is important, but you can allow yourself the time to rest and reflect so you can make a plan. 

After reflecting, how do I find the next opportunity? 

  • You do not have to go through this process alone. Connect with others around you and allow yourself to be vulnerable. Everyone has experienced career troubles on some level and people want to help. 

  • Get clear about your intention and goals, so you can have meaningful conversations with others. Each conversation can be a step to another conversation. People enjoy helping and being a resource for others. There’s some give and take, and you can pay it forward for them in some way now or in the future. 

  • Relationship building is a more powerful resource for finding a job than applying online. It can feel more vulnerable in the moment, but sending off resumes to faceless companies can be demoralizing over time. Opportunities are more likely to come from your network. 

How can I level up my skills if I want to change fields? 

  • Grad school is just one of many options. If you decide to get another degree, ensure you have a clear plan for that degree, and the return on investment is worth it.  It’s not just the money but also the time. 

  • There are many options outside of a formal degree to level up your skills. Some professions require higher education, but not all of them! 

  • Once you know what you want to do, find people in that field to connect with and start building your network. Approach people with gratitude and think about how you can repay the favor for them now or in the future. 

  • When you reach out to folks, be intentional. Let them know why you picked them specifically, and ask them if you can send some questions or schedule a time to chat. 

If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.

Resources 

Connect with Belma & Work Bigger 

Website: Work Bigger
Instagram: @workbigger
LinkedIn: Belma McCaffrey

Meet The Trainer

Meet Joy Liu, Level 2 Certified Financial Trainer

The Financial Gym Team Comment