Five ways you should cope with sudden loss of job, source of income

Many people with families to look after who suddenly  find themselves jobless have sunk into depression as the pressure to bring home bread they cannot find piles up. Many people don’t know how to cope with sudden job loss. Yet, if you lost your job or source of income today, there are ways you can make the situation easier to bear.

Grief

According to Perminus Wainaina, the managing partner at recruitment firm Corporate Staffing, you will need to grieve your job loss to get your negative, raging emotions out of the way.

“Like any other life loss, this will be a process of healing. You need to accept that you’ve lost your job, heal and move on so that it doesn’t become an impediment to your future career prospects,” he says.

Don’t invest

Investing in a new business idea immediately after losing your job is a mistake. It will only make you feel good and back in control but soon it will turn into a bottomless money pit that won’t break even.

Newton Nyabwa, a business development consultant, says even if you have a great idea that can work, don’t rush to implement it. “Cool off, after all, the idea you think is brilliant has been thought of by someone,” he says.

After a job loss, you’ll not be in the right shape emotionally to execute the idea. “Only consider investing or starting a business once your emotions and ego are under your control,” he says.

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Your daily routine

A job loss will distort your daily routine. If you were used to a 9 to 5 routine, you will now find yourself with lots of spare time. Reschedule your day so that you don’t get depressed out of boredom.

“You’ll lose orderliness in your life if you lose your routine. Bring activities such as exercises and hobbies into your daily routine to create a sense of productivity,” says Dr. Robert Chope, the author of The Influence of Family in Career Decision Making.

Have a budget

Start tracking your income and your expenses. “To do this, use an Excel spreadsheet, a note book or an app such as Mint, Money Lover or Unsplurge,” says Rina Hicks, the director at Faida Investment Bank and Certified Professional Coach.

Tracking expenses, income and savings will help you to evaluate your money position and to keep an eye on unnecessary expenses.

Get a professional

You will need at least two professionals; a psychologist or life coach and a financial advisor. Robert Ochieng’ the founder of Abojani, says that a financial advisor will be better placed to help you manage your investments, and especially if you receive a lump sum after your job ends.

You may also need to go for counseling sessions to manage your emotions and the depressive feelings that accompany the loss of livelihood.

Five job skills you may need post-coronavirus

There are certain extra job skills that may come in handy as the world emerges from the pandemic. Top among these skills are:

1. Data literacy
2. Coding and digital skills
3. Creativity, evolution and innovation
4. Communication and emotional intelligence
5. Flexibility, multitasking and adaptability

Ten jobs for the future

Certain jobs will be in demand over the coming years. You can target these as you fight your way back to earning:

1. Software Development and Engineering
2. Healthcare / Medicine
3. Agribusiness
4. Artificial Intelligence
5. Labour Law Specialist
6. Tax Accountant
7. Data and Business Analyst
8. Social Media Managers
9. Digital Marketing
10. Digital Trainers / Tele-Trainers/Counselors