
The sun pierces through wispy clouds in front of a bright blue sky as you make your way into work. Today, unlike the innumerable months past, seems to be off to a great start due to the pleasant weather. You know that your industry, let alone your employer, has had difficult times in this Great Recession. After all unemployment is well above 10% and you are a print industry professional in what is considered an already mature industry. Nothing can ruin your mood until you are unexpectedly summoned to the boss's office where a lady from HR has already taken a seat at the table. Reality smacks you across the face as the monotone voice from across the table starts to utter terms in sympathetic tones like "downsizing", "new reality", and "right sizing." The world starts spinning faster now as you ask yourself if there was any forewarning or change of course that could have affected this unfortunate outcome. Turn your focus to the next few minutes and hours which are pivotal for gracefully and productively ending one career path before starting your next.
Apparently, there are many print industry professionals who have been on the "other" side of the table recently. Just check out two ongoing discussions from the Print Production Professionals group. The Most Frustrating Thing About Seeking Employment started by Russell Goodman has attracted 70 comments and What have you done to advance your skills to adjust to the changing media? by Bill Thompson has garnered 19 responses. The comments highlight the difficulty of regrouping, refocusing, and recharging, when forced to deal with any period of unemployment. Below are 10 initial steps to take after hearing those dreaded words.
10 First Steps after Being Laid Off
- Ask Lots O' Questions
After the shell shock, start to take notes and ask questions directed toward your manager and human resources person. Get explanations on the amounts and dates for any planned severance, pay still due, and outstanding pension plan. Realize that you do not have to, or probably want to, sign any paperwork before having a chance to properly review the contents with or without a lawyer. Also get the numbers and websites for your current medical insurance, dental insurance, flexible spending accounts, and financial accounts (401k or pension). Ask for a business card of your human resource contact for any future questions. - Hoard Information
If the company does not promptly escort you out the door, ask if they would allow you to forward e-mails and gather any personal, non-company information. Remember that personal information should never be stored on company owned computers or within company supplied e-mail accounts. - Channel Winston Churchill
Winston Churchill epitomized the essence of diplomacy. You too should channel this trait in any verbal or written correspondence with your former company! After cleaning out your personal belongings, ask if you may send a farewell e-mail to your colleagues. Be careful here as it should be candid yet upbeat and never acrimonious! After all, these people were your mentors, friends, and associates, whom you spent more time with than your immediate family. Remember to include well wishes and leave contact information. - Indulge
To clear your head and uplift your spirit, spend the afternoon with a guilty pleasure, preferably an active pursuit. This will provide time to unwind and gain perspective before facing reality and any dependents. - File for Unemployment
Within the next couple of days (always better sooner than later) file for unemployment benefits. - Direct Transfer 401(k)
Most employees will have contributed to their retirement 401(k) accounts with matching contributions from your employer. If you do not know if you are 100% vested (able to withdrawel 100% of the companies match), then ask your HR representative whose business card you received from step 1. Next, ask for the proper forms to do a direct transfer, sometimes referred to as a trustee-to-trustee transfer. Do not do simply "rollover" your 401(k) to an IRA, as explained by the Motley Fool. - Benefits Toss Up
If you are married, ask your spouse to get enrollment information and rates for insurance from his or her employer. A job loss is considered a life event change in which you can enroll in your spouse's group insurance plan without having to wait for open enrollment.
Otherwise, you can apply for continued insurance coverage under COBRA, albeit at much higher rates. Due to current legislation, however, unemployed individuals filing for coverage before February 28th receive coverage at 35% of the normal premium. This should bring the monthly premiums more in line with what you were paying through your employer. - Spread the Burden
Rely on your personal network of spouse, family, friends, church, etc., to provide stability, perspective, and support. - Perform Cash Flow Triage
Hopefully, you were not living paycheck-to-paycheck and also had an appropriate emergency fund. If not, you should now have plenty of time to educate yourself on personal finance. Start with books from Dave Ramsey or Suze Orman and with the following blogs: Blueprint for Financial Prosperity, Get Rich Slowly, and Free Money Finance.
Beyond that you will need to figure out your family expenses and income (savings, severance, or unemployment). Reduce unnecessary expenses with focused intensity paying particular attention to wants versus needs. Make sure you can cover the basics of food, shelter, utilities, and car, before everything else. - Create Next Week's Action Plan
Create a list of action steps to that you think will get you the next job. More importantly, take the time to reflect on the steps to find the right job instead of just the next job.






