Out of Work? Tips to Getting Back on Your Feet after Job Loss
One of the effects of the coronavirus pandemic that may have been overlooked is the loss of jobs. Companies have had to optimize how they work, and this has led to a lot of job losses. If you’re one of those people who have been affected by this, there are a few tips to help you get back on track:
- Adjust your Budget: You probably already have a budget, but since your income has changed, your expenditure should change as well. It might be time to take out all the extra “feel-good” expenses like fancy lunches and dinners, magazine subscriptions and non-work subscriptions. Budgeting will help you save up thousands every month, and will stretch how far your savings will take you. If you’re in Nigeria and you’ve been out of work for a long-term, you can access a percentage of your pension funds if you have a release note from your employer.
- Scale your Side-Hustle: If you have a side-hustle that you’ve been earning money from, now is a good time to scale up operations. Use the extra time to improve your business processes. You might want to consider enhancing your selling and negotiation skills or perhaps start sourcing for new suppliers. Either way, you can’t go wrong investing time and money in your thriving business.
- Monetize your Skills or Hobbies: If you have sellable skills or hobbies that people frequently request, then now is the perfect time to consider charging for it. Your hobbies can include simple tasks like writing catchy captions for social media to more complex functions like interior decoration. Also, find out how much those tasks cost per hour so you can structure your pricing.
- Give your Resume a Boost: Since you have a little more time on your hands now, there’s no better time to acquire new skills for your career. There are many free or cheap online courses where you can learn new in-demand skills. These skills will give your resume or LinkedIn profile a boost.
- Keep Applying for Roles: If you’ve acquired new skills, now is the perfect time to think of a career change. Apply for roles that are outside of your previous career path if you find something that you love. Also, be sure to get a recommendation letter from your last employer.
- Be Relentless in Promoting Yourself: Remember that there’s no such thing as too much self-promotion. Take every opportunity you get to promote yourself professionally. Whether it’s marketing your side-hustle or newly monetized skills or it’s your resume and soft skills, be sure to put in a word for yourself every chance you get.
I wish you all the best while trying to get back on your feet. If you have more tips to share with us, please share them in the comments.