Losing a job due to retrenchment is difficult. A quick fix is required so as to avoid depression.
If you have found yourself jobless, there are many things you can do to turn around your misfortunes. Psychologists reveal that a good number of people who get sacked after working for a company for at least 3 years go into depression, only a few manage to move on. This situation arises when an individual lives from hand to mouth, or when an employee is extravagant and a situation arises where he finds himself jobless.
If your monthly income is cut short, here is what to do:
- Start a business venture
The first thing to do, as you realize you will not have regular income, put your money in a profitable business venture. Simply identify one of the businesses which you believe is easy to manage, and inject your money there. But you should be aware running business require a bit of skills, determination, perseverance and strategy.
- Change your lifestyle
As you realize your work will end soon, you’ll have no choice but to change your lifestyle. If you were living in a Ksh 50,000 apartment, move to one costing Ksh 10,000.This way you will be able to survive months after you lose your job.
You should also sell your car, if possible and save the money in Unit Trusts, where you’ll be earning monthly interests from the savings.
- Start searching for employment immediately
Instead of sinking into depression as you wonder how on earth you lost your job, update your CV and start applying for employment in other companies. This should happen as soon as your company gives you termination letter.
- Apply for jobs in Dubai/Qatar/UAE
Since you are desperate for employment and the fact that you need money to continue surviving, it’s important you start looking for employment in Asian tigers like Dubai and UAE, where manpower is needs. To succeed in this, you have to approach a recruiting agency to connect you to employers in those countries.
- Take a loan for business
Another way you can avoid being idle and desperate after termination of employment is to take a loan that would enable you start a business. Of course you take a loan when you are sure of a business that would generate profits.
- Start farming
If you have land, farming is the best thing to do after job loss. Identify the best crops to plant and look for a small capital for the same. You can also do poultry farming.
Start applying for Green Card
Another step to take is to apply for a Green Card.I knows it would take some time before you get a response, but it’s always good to try than take no step.
- Go for further studies
Another option at hand is to look for a scholarship to further your studies. This is particularly good for people below age 40 and newly employed people.
If you have some savings, you can also spend some on college fees.