203: Layoff Series: What to Do When You're Laid Off - From Shock to Next Steps

In this episode of the Bringing the Human Back to Human Resources podcast, Traci continues the layoff series by addressing what happens when you or someone you know experiences a layoff, focusing on both the practical and emotional aspects of job loss. Key Topics Discussed: (00:02) Introduction and preview of next week's episode with Dan Goodman (02:18) Statistical overview - 40% of Americans experience layoffs (04:38) Initial concerns and questions during layoff notifications (06:57) Review of separation agreements and negotiation opportunities (09:26) Outplacement services and career preparation (11:46) Important documents and intellectual property considerations (14:08) Managing the emotional impact of job loss Highlights: Over 40% of Americans experience a layoff at least once in their career Separation agreement review periods vary based on age and circumstances Most aspects of severance packages are negotiable Companies typically don't disclose reasons for employment termination Maintaining updated career documents is crucial for preparedness Practical Steps After a Layoff: Review the separation agreement carefully File for unemployment (US-based) Negotiate healthcare continuation before COBRA Gather important documents (performance reviews, etc.) Consider intellectual property agreements Maintain professional connections Request references if company policy allows Financial Considerations: Review severance package options Understand healthcare continuation rights Explore emergency fund access Investigate benefit cash-out options Consider expense reduction strategies Connect with Traci: Email: [email protected] Website: https://HRTraci.com Instagram: @HRTraci Don't miss next week's final installment of our layoff series featuring Dan Goodman, who brings a counter-perspective to traditional HR functions. If you found value in this episode, please take a moment to rate, review, and subscribe to our podcast. Your feedback helps us reach more HR professionals who are passionate about bringing humanity back to human resources. Connect with Traci here: https://linktr.ee/HRTraci Disclaimer: Thoughts, opinions, and statements made on this podcast are not a reflection of the thoughts, opinions, and statements of the Company by whom Traci Chernoff is actively employed. --- Support this podcast: https://podcasters.spotify.com/pod/show/hrtraci/support