Losing your job may rank as one of the most stressful situations ever encountered in a person’s life. Regardless of what you are going through, keep a clear head and take any of the following steps that apply. Even if you cannot change the circumstances, control your response to the circumstance. It is better to approach a challenging situation with an organized and proactive approach, rather than succumbing to defeat.

Negotiate for a Severance Package

Your company may not be required by law to pay you severance. Find out if a severance package is an option. The CNN Money Web site at http://money.cnn.com/2002/11/07/pf/saving/q_severance/index.htm addresses negotiating for severance, including: 

- Figuring out what sets you apart from others who may be laid off at the same time, and making your company aware of these facts 
- Finding the reason, if feasible, why the company might lay you off later than others (if you are part of a mass layoff).

This strategy may ensure that your severance package has more room for negotiation, if you are not part of a mass layoff 

- Taking steps to get a good reference from your company

File for Unemployment Benefits if Eligible

You may be eligible for unemployment benefits, depending upon how the job was lost. While laws regarding unemployment benefits vary according to state, you may be eligible for these benefits if you were laid off from your job.

You may not be eligible for unemployment benefits if: 

- You were fired from your job or left without cause 
- You fall under other circumstances defined by your state unemployment office

Unemployment benefits are usually based on a portion of the income earned from the job you have lost. Benefits often run for 26 weeks, but may be extended during difficult economic times when the unemployment rate is high.

Begin the process of filing for unemployment immediately after losing your job. Check out the United States Department of Labor Employment and Training Administration Web site, which has links to additional information and individual state unemployment offices.

Begin Networking and Send out your Resume

Do not waste time – take action. 

- Update your resume if you have not done this already. By visiting The Milburn Partners’ Web site, you’ll see a summary of one approach to developing an outstanding resume. Visit FreeResumeTips.com at http://www.free-resume-tips.com/10tips.html to get ten tips for writing a resume that will stand out with perspective employers.  

- Take an honest assessment of your skills and the market. What do you desire from your work? What are you willing to do? What is the demand for these skills in today’s market? Are you willing to relocate, and can you afford the associated expenses? 

    - Begin networking, online or offline. Think of every possible connection that could bring you closer to the job desired.    Networking might include:

- Making use of online networking resources, such as www.linkedin.com, www.myspace.com or www.facebook.com

- Attending networking functions related to your career or desired career.

- Volunteering in a capacity related to your career 

- Send out your resume, aiming for the career opportunities you have targeted as a good fit for your desires and your experience:

                        - Use online resources like Job.com, Yahoo Hot Jobs, or Resume Rabbit (a central online service that distributes resumes to many large job bank sites such as Monster.)

Live Within your Means

If you do not already have a good handle on what it costs to live, now is a good time to define your income and expenses. While unemployed, the last thing you want to do is spend excessively. Use the following guidelines: 

- Determine what your monthly income will be. Do you have other income, such as part-time work? When will unemployment benefits start, if you are eligible? Can you pick up temporary work at agencies such as Kelly Services in a hurry? 
- Determine your monthly expenses. If already tracking your monthly expenses, you have an idea of what you spend per month. Quicken software offered at Quicken.com is another way to track expenses.  
- Cut unnecessary expenses. What expenses can go? At this time, you need to be concerned with needs rather than luxuries. If your cable or satellite TV bill is making it impossible to buy groceries, the TV service should go. 
- Apply for assistance, if needed. You may be eligible for government assistance, depending upon your financial situation at this time.