Coronavirus Job Loss?

What YOU need to do Immediately…RIGHT NOW!

Coronavirus Job Loss?

We all have been caught off guard with the COVID-19 pandemic.  The U.S. economy was booming, the stock market was strong and employment levels were the highest in years.  Then BOOM! out of what seemed like no where -- millions lost their jobs.  Many who had very secure jobs, in ALL industries, at ALL levels were suddenly unemployed due to this terrible pandemic.  Our worldwide government leaders failed us, they didn't give enough importance to the Coronavirus and didn't listen to the medical experts.  They ALL just downplayed the virus...and were to late trying to contain the virus. 

Please know that you didn’t do anything wrong, this was NOT your fault – and you are not alone.

Top executives, business owners, factory workers, doctors and other professionals (older and younger) in all industries have ALL been impacted in some way.  No one has escaped!

No way is this a reflection on your professional merits.  You still have your skills that many employers want and greatly desire.  Once things return to the "new normal" (whatever that may look like), you will be back in demand to be hired.  Perhaps even in a better position, with greater growth potential.  In the meantime, you must look at your finances, stay strategic, and build an action plan keeping you focused and ready to act.

Coronavirus Job Loss?
Six things YOU need to do immediately...RIGHT NOW!!!

1. Take a deep look at Your Finances…think Cash Flow!

Have a firm grip on your financial status and clearly know your current situation:

• Apply for Unemployment ASAP!  Most state systems are overwhelmed and there are many delays...so file as soon as possible and your probably facing a weeks before your application will get processed...even if you are going to get severance.  Most states are so backed-up right now, you need to apply early in order to get in line and get the ball rolling.
• Review expenses highlight anything non-essential…then cut back or eliminate.
• How much savings do you you have available?
• Find out if you qualify for an IRS Covid-19 stimulus check, also known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
• While not a financial item, it certainly has a MAJOR impact to your finances, well-being and peace of mind, and that is health insurance.  Cobra is VERY expensive, and there are many great and very affordable options on the federal governments Health Marketplace thanks to the Affordable Care Act…click here to learn more.

Once you get a better handle on your finances and have your healthcare taken care of, you will feel more secure just by knowing where you stand and being able to take immediate steps to lower your monthly costs and have a peace of mind should you or a family member get sick.

2. Research your options and be ready...this is no time to slack

Coronavirus Job Loss?  As it turns out, not all industries are suffering losses due to Covid-19.  To find out what market sectors are thriving search online job boards, read industry publications and look to see which companies need people. 

Food supply, online shopping, retail stores like The Home Depot, Lowes or Costco and certain technology companies continue to do well -- and in fact may be doing better than before the pandemic.

Consider doing work outside of your regular field.  Stay with what you are comfortable with and most importantly, DO NOT PANIC.  There may be times when taking less compensation makes perfect sense!

The pandemic won’t last forever…so think outside the box when it comes to finding work that’s a good fit.

3. Prepare for a the new normal and of...Virtual Job Search's

You know the drill…making a good impression during an in-office interview sets you above other candidates. 

Now, everything is virtual and may stay that way as companies are finding it just as effective to do Zoom, Teams or GoToMeetings meets...and industries that were not fully digital have been forced to transition online.

This is also a great opportunity for those of us over 50 to show that we are just as tech savvy as those younger.  It’s a great way to show that you have kept up with trends and technology and are updated with all the modern means of communications and comfortable in this new digital world.

Coronavirus Job Loss?  To prepare, learn a little bit about more about online job search and interviewing best practices. If needed…practice just having a conversation with a friend through a free service like Zoom, JoinMe or Skype. 

Make sure you are comfortable with all of the new digital tools in order to make a great first impression.

4. Talk to your network and contacts

Coronavirus Job Loss?  Even though you may feel isolated physically, digitally you still have access to your entire personal and professional network -- should use them.  Reach out over email, LinkedIn, or social media...STAY IN-TOUCH!

Learn more about the strength of networking here!

There is good news about taking this step during Covid-19.  Since this pandemic has affected everyone, you will not have to explain too much about your current situation…Your network will get it and will be sympathetic. 

Join industry networking groups, stay in-touch with like minds within you industry and other related verticals.  Write an article on LinkedIn…get published in an industry newsletter – get noticed!

5. Update and refine your resume and make sure it contains all the right key words, your latest accomplishments and achievements

Coronavirus Job Loss?  You may have to pivot significantly…This means you should look at your qualifications in terms of skill set in addition to achievements and responsibilities.

Small and Powerful Ways to Update Your Resume

1. Update your skills.
2. Check the keywords.
3. Remove dated phrases and terminology.
4. Refresh contact information if needed (call these references – reconnect which is a good way to network and reestablish key contacts).
5. Review each position and make sure that you highlight transferable skills and call out all accomplishments clearly.
6. Add any new roles, technology learned, successful projects etc.
7. Proofread and then proofread again! (then have someone else proofread for you).

6. Now is a good time to learn a new skill or brush-up on others

Coronavirus Job Loss?

Now is an ideal time for expanding your skillset, using the internet you can learn a variety of new skills to help with your job search.  There are many online portals where you can take classes, like Skillshare, edX, Udemy and more.  Many educational companies are offering longer free trials or a greater selection of free online classes, seminars and industry specific free offerings.

Look into online offerings from local libraries, re-employment resources (usually connected with your local Unemployment Office). This is the perfect time to upgrade your knowledge with little to no financial investment.

Coronavirus Job Loss?  It is easy to get caught up in the feeling of urgency…take active steps as soon as possible.  Keep your energy high by establishing a regular routine for job hunting activities, but DO NOT forget time for yourself -- so build in time for rest and recreation. 

Do not forget the spiritual side of things.  Take care of yourself.  Take that yoga class or read that book you always wanted to read…go for long walks (following social distancing rules of course) – you know the saying – take time and smell the roses. 

All great ways to destress and stay the course...It may be some time before we see the “new normal”.

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