Plan B: Surviving The Loss Of A Job

Plan B:  Surviving The Loss of a Job

By

Marsha Walker Eastwood, B.S.Ed., MSHSV

“You've always got to have a plan B. You've got to be able to shift gears and find a new course of action.” ~Joe Teti

There is no shortage of opinions on the efficacy of  creating a Plan B strategy for any reason. Many experts and regular Joes and Janes think that the backup plan idea is a distracting nuisance as it interferes with the A game. But let’s put this notion into perspective. A Plan B is just that - a backup plan to deal with the failure of any A game. Let’s use the analogy of a power failure. For people who know the wisdom of having a Plan B, they have working flashlights, candles, lighters, or matches, and perhaps sleeping bags and a kerosene heater if they live in a cold weather area. The Plan B people have blankets, water, and a box candle in their car-just in case.

For those who believe that having a Plan B takes away from stepping up their A game, the great majority of them do not have a back-up gasoline powered generator available to provide some source of power for their homes, working flashlight, just enough candle power to provide ambiance for a dining event, nor are they prepared for a road emergency. Losses sustained from a power failure are usually food related, or pet related such as the loss of fish in a fish tank. In most cases the financial hit, if any will be minimal and usually nothing like a full-blown disaster.

For our purposes here the word “disaster” is associated with some destructive act of nature resulting in a loss of tangible assets such as home, personal belongings, a car, as well as access to food and other necessary items of survival. Much of the carnage from such events is often covered by insurance. However, for most working people the loss of a job can be the most devastating blow of all. Unlike tornadoes and hurricanes where there is advance warning, there is usually little to no advance warning for a sudden job loss. That type of loss can be likened to an earthquake with aftershocks causing ripples that are far-reaching and can constitute not only the loss of tangible assets, but the loss of self-esteem, social withdrawal, and in some cases family disruption. While there is no insurance plan to deal with a sudden job loss disaster, there are ways to mitigate the damage by being proactive and creating a “what if” scenario Plan B.

The first step would be to find a safe place to vent, pound fists and cry if need be. This is the time where you would begin to deal with that bruised ego and you take note of the fact that like a young tree in a windstorm, your spirit is bent but not broken. You prepare yourself to face the music of how to survive.

By taking a proactive stance and pre-planning, all emotionalism is removed from the scenario thereby providing you with a better vision of what you need to do, and this begins with creating a “What if” emergency preparedness file with the first entry being an updated resume, one that you can create one or two revised editions of. The next task is to read and get a clear understanding of the qualifications to receive unemployment compensation. You will discover that the rules include an extensive job search, reporting and attending mandatory sessions with job coaches. You can copy and paste all relevant information into your emergency file.

  At this point you should be actively engaged in a job search. Take an inventory of your skill sets, your experience and yes, what you bring to a workplace. Keep up on current trends that detail how your skill set is currently being used and better yet what additional skills you may need, including continuing education courses. Research online job search engines. All are not created equal, and some of them list jobs in odd categories. Also consider work-from-home jobs. Many of the jobs listed will allow you to earn income and still have time to work a dedicated full-time job search and interviews.           

Shelter, food, and utility issues are competing for the top spot in a sudden job loss situation. Depending on your circumstances you may be eligible for benefits through TANF (Temporary Assistance for Needy Families) which is a government funded program which provides cash benefits each month as well as assistance with utilities, healthcare, and high rent payments. TANF also helps with childcare assistance, job preparation, and a prevention, retention and contingency program that helps with everything from rent assistance, clothing assistance, and utility assistance all stemming from unexpected emergencies. The national SNAP (Supplemental Nutritional Assistance Program) also known as the Food Stamp Program allows low income and no-income individuals and families to purchase food including fresh fruits and vegetables. These programs serve low and no-income individuals and families who meet the income requirements. According to government sources, “You may have $2,250 in countable resources, such as a bank account. If at least one person is 60 years old or older or  disabled, the household may have $3,500 in countable resources. Resources do not include SSI, TANF and in most states do not include vehicles. Gross income is the total, non-excluded income, before any deductions have been made. Net income is the gross income minus your allowable deductions. If your household only consists of one person, then the gross monthly income to be eligible for SNAP is $1,287 (net $990). For two people, gross is $1,726 (net $1,335). The numbers increase from there. Once again, this information can be copied and pasted into your file. Now it is time to deal with budgets and bills.

          The best way to manage a budget when you are working is to continually monitor how money is being spent. A simple spreadsheet divided into a few categories can provide a daily, weekly, or monthly listing of expenditures. It also provides an opportunity to see where cuts can be made as well as outstanding balances on credit cards and other monthly accounts. Once a bill is paid off, give yourself a cooling off period before incurring new debt. This will allow your emergency fund to build.

A good Plan B needs to address not only financial survival but physical and psychological survival as well. This means you need to be of sound mind and body to engage in any meaningful job search. Sudden job loss impacts not only the way you see yourself but how you perceive others seeing you. Once you break the news to your family, you need to create a balanced and productive daily routine for yourself. Just as your workday was structured, so should your downtime day. There should be a start time and a stopping point. In between there should be three meals, two snacks, designated job search time, designated networking time, designated exercise/meditation time and designated family time.

Feeling sorry for yourself is a luxury you can never afford, and much less at this point. Focus instead on things you can control. After you apply for a position, don’t just sit waiting for the phone to ring or an instant acknowledgement from a potential employer. Modern technology makes it possible to return missed calls and respond to emails. Dress for an interview, stand in front of a mirror and sell yourself. Practice makes perfect and you have more than enough time to do mock interviews. It also gives you an opportunity to see what interviewers would see. Whenever you see your concentration waning, take a break and step away from the job search and play a few games of solitaire. Starting at the expert level will force you to focus and concentrate. It is a healthy distraction if it serves a purpose and doesn’t become a time-filler.

Taking care of your physical self is every bit as important as the job search. If you are snacker, avoid high carb “downer” foods that sap your energy and can cause an otherwise good mood to suddenly crash. Instead opt for higher energy seeds, almonds, walnuts, and fish snack packs. Alcohol is a depressant so if you must, less is best. A good night’s sleep is paramount. In addition to reducing stress, it allows you to start each day energized and focused.

Unemployment - as bad as it is at the moment - provides an opportunity to focus and be fully prepared to rejoin the A game with a better perspective of who you are, and renewed appreciation for your ability to survive temporary adversity. Make it a priority to have your Plan B strategy to move quickly if the need should arise, and the good days….your Plan A days….can be lived to the fullest. Preparation reduces anxiety, so give yourself every opportunity to prepare.

©Marsha Walker Eastwood

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