• Post author:
  • Post last modified:July 13, 2022

Each of us can suddenly lose a job. So, you should be prepared for every scenario, even if you haven’t been fired. The truth is that every person can be dismissed no matter how experienced and productive they are.

During the last few years, most people have lost their jobs under circumstances they couldn’t control. It is a Covid-19 pandemic and a global energy crisis.

So even if job shortage is not your problem now, it’s not a guarantee that it could happen to you. Especially if you have to spend your income on monthly expenses like paying rent, bills, and medical insurance, having a plan B is a must!

The following tips will help you make a proper backup plan.

1. Save money for a rainy day.

People who have money savings are resistant to different unexpected circumstances. In case of a job loss, it is good to have savings that can cover your expenses during your job search.

Sometimes it takes 2-3 months to get hired, so you must have the money to spend during this period. 

There are different ways to save money. You can keep some sum in your bank account or do it in cash. You can also invest your money in jewelry or buy company shares.

During the last few years, more and more people have purchased bitcoins at cryptocurrency trading platforms and bought NFTs. So, find a way of money-saving that will be the most comfortable for you and be sure that you will handle any unpredictable situation.

 

2. Don’t stop learning. 

The best thing you can do to invest in your career is to continue the development of your key skills. Acquiring work experience helps you increase the level of your qualification, but usually, it’s not enough to win the job competition.

Recruiters always ask what professional training you have attended recently or what literature you read to get new knowledge in your field.

So, while having a permanent workplace, try to increase your professional knowledge in any way possible. Learn new languages and new tools and practice more. There are a lot of paid and free online learning platforms to help you keep learning at the comfort of your home.

Your qualification should also correspond to the trends and demands of the job market. Sometimes, people can forecast what job skills will be necessary for the future. 

Nowadays, it is essential to be a versatile specialist who can work in different occupations. Many job places are cut because of significant changes in the world and the job market.

During the covid pandemic, many businesses like restaurants, hotel industry businesses, travel, and music agencies faced a crisis because it was impossible to switch their work into an online format. On the contrary, people working in the writing business didn’t feel much of a change.

3. Keep your resume updated.

Even if you’re not planning to look for a new job, updating the information in your resume is critical. If you were waiting for the sign to update your resume – this is it!

Review it, and add up-to-date information about your experiences and accomplishments in previous workplaces. Devote some time to work on its design and make sure it contains relevant keywords that will make you get noticed by the applicant tracking system.

You can always turn to a career advice expert if you don’t know how to craft a winning resume or cover letter.

You can find various career resources to assist you in your job search. Nowadays, professional cover letter writing services are very popular among job seekers. You can hire both resume and cover letter writers to make outstanding job application documents and land an interview. 

4. Get a part-time job. 

Many people combine their permanent in-house job with a temporary occupation. For example, if you work as a designer, you can also make and sell your own paintings.

People who know foreign languages can have a side job as private tutors. If something happens with your permanent job, having a side job won’t make you feel like you have lost everything. In this scenario, you can even turn your part-time job into a full-time one.

Another good way to always be occupied is to participate in freelance projects. Many companies try to outsource their tasks to freelancers.

If you’re a writer, translator, software engineer, voice artist, or designer, you can apply for an online job on the freelance platform. 

5. Keep track of your expenses.

Every person must know how to manage their personal budget. However, many of us are still not aware of budgeting basics. You control your finances when you keep track of your income and expenses. If you know you’re at risk of losing a job, it is crucial to prioritize your monthly payments.

When your career is at stake, spending less money on entertainment and more on your job application is better.

If you want to find a new job fast, you can achieve it using an online resume service. A ‘good’ resume and cover letter are not enough to win the competition nowadays. “Excellent” level of quality is what everyone must opt for.

Final thoughts

We cannot predict the future but can be ready for any possible scenario. In terms of career, there are various actions a person can take to create a Plan B in case of losing their job.

Right now, you can update your resume and attend an online course to continue your professional development. Budgeting will help you make money savings to survive out of work time.