There’s no doubt about it: Losing a job can be stressful. The thought of starting over can be unnerving, particularly if you’ve worked for the same company for a while.

Get The Facts

First, make an appointment with your company’s Human Resources Department and get answers to these important questions:

• Can you negotiate a later departure date? This could give you more time to look for another job.
• Are you entitled to severance? If so, how much?
• Will you receive payment for unused vacation days? If not, you should schedule them as soon as possible.
• How long will you be entitled to health coverage? And at what cost?
• Likewise, can you maintain your insurance policy? If so, at what rate?
• What’s involved in transferring, borrowing or withdrawing your 401(k) funds?
• Are you entitled to unemployment compensation? If so, what documentation do you need?

Leave on Good Terms

When your last day comes, handling yourself with professionalism and maturity will serve you better in the end. Although these are difficult circumstances, focus on what you’ve accomplished for the company and the skills you’ll take with you. Take any awards you may have earned, as well as non-privileged work samples — they’ll be of interest to prospective employers.

Take Constructive Actions

In your search for a new job:

• Notify your references, including past employers, that you’re job hunting.
• Update your resume, quantifying your accomplishments whenever possible (e.g. exceeded sales goal by 8%).
• Register with employment agencies and/or search firms. (Ask in advance if they charge for their services).
• Say yes to every interview, even if it isn’t the job you want. It’s good practice.
• Familiarize yourself with the companies you’re interviewing with. Being prepared will go a long way with prospective employers.
• Follow up on your interviews with a thank-you e-mail or note.

Although it is difficult, losing your job doesn’t have to be an end. Indeed, it could give you a fresh start!

This educational third-party article is being provided as a courtesy by Andrew Orth, a Financial Professional with New York Life Insurance company. (CA Ins. Lic. #0H05215). For additional information on the information or topic(s) discussed, please contact Andrew at acorth@ft.newyorklife.com

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