How to bounce back from job loss?

How to bounce back from job loss?

It is most happening process that part of the restructuring process many candidates will lose their jobs or some other will be offered with lower position with less pay. This situation cannot be predicted and nobody knows that they are likely to lose their job in near future and we cannot safeguard against some kind of eventualities. Expert’s advice that job loss results from employee incompetence and negligence and sometimes it is unavoidable due to inevitable, external circumstances, such as cost-cutting measures or a change in the company management.

Employees must be aware of the changes happening in their career indicating an imminent job loss and try to find out alternative solutions to find new job. When an employee is not getting id not offered with an increment or a promotion then it is a sign that your employer is un happy with you and chances are there that you could be asked to leave. Another sign of termination is that the employee is being excluded from all important meetings and projects. A junior will be promoted to your role and they’ll ask you to train that person. Below tips may helpful to control the situations:

Plan of action: HR experts opine that when the people experience this kind of job loss situation then they have to control situation rather than losing nerve. The biggest mistake is that resigning to the jobs. Unless and until the management told to leave you should not to do it.

If you get a pink slip: If you have been offered with a pink slip then search for a good job before leaving the present one. Check your financial status and make a financial plan according to the money you have. Analyze your monthly expenses and plan to repay the EMIs by creating a contingency fund.

Search for new job: Tap your network to find a new job or approach the competitors of your old employers. You can also search for the job in a company which is smaller than present one. At the same time don’t join in big company with lower pay and position.

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