Make the Most of a Layoff

Layoffs are becoming a harsh reality quicker than most of us would like. According to the US Department of Labor, there were over 1600 layoffs just last month. You may notice the desks around you emptying or perhaps you've been a victim yourself. Regardless of the severance pay or unemployment benefits laid off employees might look forward to, it takes a serious adjustment to go from gainfully employed to not. But does a layoff have to be full of self-doubt and uncertainty? The answer is no.

Most of us can agree that through tribulation, a better and more meaningful life will blossom. This is the attitude to adapt when facing unemployment. Believe it or not, a layoff could be exactly what you've needed to put your life back into focus and your career back on target. Allow me to offer a few suggestions on how to spend your time after a layoff.

Take Time Off

It's not uncommon for someone to take a little time off after a layoff. This could include the time in between your old job and a new one, but depending on how long it takes to find another job, many people opt to take a hiatus before returning to the workplace. Of course, there are many things to consider when deciding if taking time off is an option: first and foremost, you should consider your expenses. It's necessary to evaluate whether or not you can afford to wait before re-entering the workforce. If you've spent all these years working without saving a nest egg, not returning the office immediately probably isn't a good idea.

Consider your kids, your family and home. If taking time off is an option for you, think of all the things you can do with your family that you weren't previously able to. This is your time to catch up on their lives; do the things you've been meaning to. Don't be afraid to tackle home projects either. Staying constantly busy will make the transition from working to not much smoother.

Not working is also a great time to give back. Volunteering is very rewarding and allows you to remain connected to your community. You can volunteer as little or as much as you'd like, but you'll never regret it.

Start Your Own Business

I know it sounds scary, but many of us have dreamt of running our own show some day. If you're able to take some time off, spend it starting a business. But, as this article suggests, there are some things to consider before doing so:

• Assess your skills and experience - be sure to fully understand what you are about to get into. If you're tapping into a new market that you're unfamiliar with, you must account for more expenses and time to learn that industry. If you're looking to do something in a field you have plenty of experience in, the start-up cash will be less.

• Evaluate your industry - you must honestly assess the growth of the industry you're looking to go into. Outsourcing is a huge alternative these days and depending on what your business will specialize in, it could determine if it might be done cheaper by someone else. Be sure to speak with industry associations to find out the outsourcing statistics.

• Develop a timeline - as with anything you do in life, it's important to set goals. Create timelines for each part of your business. From the day your business officially starts, to when you will get your first client, to the day you will make your first million in profits. Plan everything out.

Go Back to School

For many of us, we've used the "I have to work" excuse as a reason not to finish a degree. After a layoff, there are no more excuses. Just because you're going to school doesn't mean you can't work either. Find yourself a part-time job if you need to. Even working a full-time job isn't unheard of among students.

School is no longer unaffordable with financial aid. There are often numerous federal aid programs including grants (you don't pay back) and student loans (you do pay back). There are also a number of scholarships to assist you financially during your education. It's easier now more than ever to go back to school. Take advantage of it.

To begin the process, assess your career goals. Start thinking of everything you've ever wanted to do, no matter how big or small. Next, think of your skills and how you might apply them to a new position. If you could still use guidance on choosing a new career, read up on career assessment tests and how they might help you. Once you've got an idea of what career path you would like to take, sit down with an academic counselor at your local college or vocational school to help you map out your education to get it done quickly and effectively. There's no substitute for a good academic counselor as it takes years to fully understand the collegiate school system.

It's often difficult to dust ourselves off after a layoff, but as you can see it's not the end of the world. While the timing might seem horrible right now, it will lead to brighter days in the future. Try to make the most of your layoff by trying new things, whether it's to further your education or seek new experiences. There's an entire world out there waiting for you to conquer it. Get back on the horse and find yourself. There's no better time than now.

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