1. Explain the crisis level when you lose your job at 50
“Losing a job” is different from “resigning from a job”, the article mentions that the phrase “losing a job” shows an unexpected situation without choices for workers in their 50s, causing an emotional crisis.
The time between when the company decides to lay off workers and when the decision takes effect is not long. Even if companies give notice according to the law, with the age too close to retirement age, it is very difficult for 50-year-old workers to find a suitable new job.
With the age of marriage now very late, most 50-year-old workers still have to meet their financial responsibilities and take care of their families. The financial burden of relying on corporate severance pay relative to company spending levels can only last for so long.
Health is reduced and learning ability is no longer flexible, so the competition for working ability with young people is indeed very low. If there is no referral relationship, then 50-year-old workers should directly apply for jobs in companies with stable income, the opportunity is almost zero.
2. Guidance to prevent job loss at age 50
Unexpected situations in life are not uncommon, being fired unexpectedly is one of them. Labor law provides the right to unilaterally terminate a company’s contract with an employee (Article 36 of the 2019 Labor Code), so employees are obliged to accept it if the company complies with the law.
Even a person with good expertise and many years of experience may still face this problem. This is why, even when we are young, we must take preventative measures for the future, improving our ability to respond proactively to all the problems that arise in employment and income:
2.1. Stabilize your workplace before age 30
When you get your first degree you can try to work in that company for a few years and then move to another company, it’s not a big deal because there are many opportunities and you can access and learn a lot of new knowledge. However, job hopping should stop when you approach age 30.
Having gone through the previous period of job change, you have a good understanding of the nature of the position, your own abilities and your desire for long-term commitment. Changing jobs at 30 is therefore no longer an addition to work capacity but a way to avoid difficulties and lack of personal consistency. If this situation lasts for a long time, it will lead to an attitude of discouragement at work and thus you will always seek new horizons until age no longer supports you. Very dangerous. Therefore, before the age of 30, determine a suitable workplace. If there are difficulties, try to overcome them to continue developing.
2.2. Find a side job
Once your primary job is stable, choose a secondary job that suits you. These will often be jobs that allow flexibility over time, such as managing Grab, writing content, translating, graphic design… This will be effective financial support for you during the transfer process between the two companies, or upon dismissal. depending on the layoff or downsizing policy.
Because you already have a main job, with a side job, you don’t need to accept too many tasks, you just need to do it to accumulate experience, understand the nature of the job and the operating procedures , and make money from it. job. Thus, the main work is always guaranteed and the secondary work remains stable.
2.3. Become the last to be replaced
Changing the “blood” of companies is a trend today as the aging workforce is gradually replaced by younger generations. It’s almost inevitable, but you can put yourself on the list of the last to be replaced by:
Continuously update professional knowledge to support work
Enthusiastic about work, high sense of responsibility, spirit of effective cooperation with teammates
Is not afraid to take on new tasks, and is willing to dedicate personal time to research and accomplish them to the best of my ability.
Act first, then think about the benefits later, always prioritize teamwork effectiveness
Achieve many achievements, create many good ideas, keep pace with the evolution of the times…
Throughout the work process, always show the company the great value you bring. Do not wait until news of layoffs arises to work with enthusiasm, the effectiveness will be difficult to recognize immediately.
2.4. Making money comes with accumulation
Young people earn a lot of money and have many places to spend money, which is why many young people are willing to spend their entire monthly salary in just the first few weeks. Borrow money, pay later at the end of the month. Such living has no effect in the present but will be a dangerous sign for the future.
Learn to save from the first days of earning money, you should at least devote 30% of your salary every month to savings. You can save money in the bank, accumulate it gradually and then buy larger assets like buying gold, buying a house, buying a car… to maintain the value of money. The earlier you become aware of saving and the larger the amount of saving, the less worry life will be in middle age or old age.
3. Solution in the event of job loss at age 50
If you haven’t read the preparation instructions shared by your advisor and you’re in the group of people who lost their job at 50, don’t worry too much. The following guidance is accumulated from numerous cases of insiders who lost their jobs between the ages of 40 and 50.
Their bloody lessons and unwavering determination brought the strategist from surprise to surprise. Everything is completely condensed in this section:
3.1. Accept reality, cheer up
There are some things we cannot change, but we still stubbornly hold on to them. Stubbornness will further depress morale, affecting quality of life. If you are sad and sad, you can’t think of any good direction.
Therefore, when losing their job at the age of 50, workers must maintain a balanced mental state, accept reality early, and quickly learn the benefits that the company must pay them in the event of unexpected dismissal.
3.2. Spend economically
Previous personal expenses such as going out for drinks after work, watching movies at the cinema, getting your hair done every month, buying clothes regularly… should be removed from the list of expenses immediately. Income should be focused on mandatory basic expenses such as electricity and water bills, rice and salt, children’s school fees, motel fees, gas fees, etc. If you have a surplus, keep it as a reserve for the following month.
If you have a small amount of savings beforehand, try not to touch it. Only use income earned after being laid off, spend less if you have less, save more if you have more. By organizing your financial management in this way, you will feel more secure while waiting for a new job.
3.3. Search for new jobs
First, look for jobs that match the position you were just laid off from. Although the chances of hiring a 50-year-old are not high, you just left your job and all your skills and knowledge are still in use and well mastered, so there is still a chance.
You can listen to the recruitment needs of your friends and colleagues in the same industry or submit applications on online recruitment sites. If possible, accept applications that are a little far from your hometown to maintain suitable jobs, as the transportation system and communication applications are now very modern.
3.4. Choose a left-wing job to wait
Unless you have secure savings for old age, if you are unable to immediately find a suitable job with a stable salary, do not sit idly by. Find yourself a side job, seasonal work is also possible (green mangosteen peeler, construction assistant…), hourly/product wage is also ok (clothing processing, hourly housekeeper…), flexible working hours You can eat as much as you want. you want (motorcycle taxi driving, food app delivery, etc.). Maintaining a professional career will be very beneficial for workers over 50:
The first is to maintain a relative financial amount to cover daily expenses
Second, continuing to work will help the brain become flexible, allowing it to absorb work in a new location more quickly.
Third, maybe if you work alongside your side job, you will find it suitable and develop accordingly, without having to worry about finding a job in your old profession.
The content shared by TalentBold strategists is direction that has been applied by real-life witnesses who have asked themselves “If I lose my job at 50, what’s the solution for me?” » The first priority remains the preparation process, accumulated from an early age. Even if the announcement of job loss comes unexpectedly, the advisor’s suggestions will help fifty-year-olds find the most suitable solution as quickly as possible.
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