What!!? Terminated less than 24 hours?!
By: Shaminy Navin
Tags: Management, Unemployment, What To Do, Boss, Finance

What would you do if your employer told you that she/he had no choice but to lay off almost 80% of workers including YOU?

*dramatic background music*

Just like how Malaysia’s famous media organization laid off most of its staff in a short period of time.

Commonly layoff carries a stigma that hinders job seekers from finding a new employment. We all knew it is tough to leave a job unwillingly in a flash, especially if that is your main source of income that supports yourself and family members.

1) REASON MATTERS

You should try to receive the information on a calm note. Of course, you’re allowed to ask WHY if your employer chooses to terminate without disclosing information.

Do not be afraid to ask again if you’re not crystal clear of what has been delivered by your management team.

2) FORMALITIES

Stay updated on compensation that you should receive as the result of loss of employment. Look back into your dusty agreement that you had forgotten long ago. Read about the retrenchment procedure that was stated if you can’t remember the details for some reason.

You’re also encouraged to buzz your legal advisor to seek further advice on this kind of situation before signing off your retrenchment agreement.

3) EMOTION

This bad news might cause you turbulence of emotions especially if you’re the breadwinner of the family. You might be clueless on what would you do to support your family till you could get a job next (let’s not get started with unemployment status that is on the rise)

This is the time you need to surround yourself with positive people that would lift you up to face the hurdles. Be sure that your loved ones are there to encourage you constantly in enduring this kind of complex situation. Avoid negative people that makes you feel demotivated at this point of time.

Stop your tears and shove back the ice cream tub that you have been chomping on into the refrigerator. This phase needs to come to the end because, IT IS TIME FOR ACTION.

4) FINANCES

Lay out your budget according to the current financial status. Differentiate expenses that you could cut-out and cut-back. Sit down and have a heart to heart conversation with your family regarding the current financial crisis that you’re going through. The entire family needs to understand that you may have to live your life in a restricted way for the time being.

5) CRISIS POINT

You would be forced to grab the first job you find and if you’re not ready to serve burgers at this point of time, then let it be( yet depends on you totally). Plan a budget and how much time do you have till end the job hunt and accept any job that comes your way.

Mark the crisis point on calendar (when your existing saving plunges below 50%) It’s a general thumb rule that everyone would keep up with.

6) START A NEW CHAPTER

Hey, staying in the same chapter will not give you room to grow. Instead open the new chapter of your book called life. Discover the new things that it holds. Put together your untouched resume and start applying for relevant jobs. There are ways to earn part time income as well till you secure a full time job

Oh hey, watch this space to know more on the tips and tricks to predict if your company is doing well or..the other word round. Hushhhhhh!

Go forth and conquer!! ❤️