It is natural to be upset after losing your job or even want to act like nothing happened, as if the situation is a bad dream from which you will wake. That said, there are five “must-do” items you will need to address within the first week of being laid off, preferably within the first 72 hours.

1. Break the news to your spouse or partner
   As difficult as it may be, the sooner you get this over with, the easier it will be for all involved. While you might want to spare your loved ones pain, delaying this discussion will only make matters worse.
2. Talk to your children
   Once you and your spouse have an opportunity to digest the news, discuss the best way to break the news to your children. While you can wait a day or two, don’t let weeks go by without sharing this information. Children often have a sixth sense when something is wrong, so address this issue in a timely fashion.
3. Review your separation package
   At the termination meeting, your employer should have provided you with important information about your final paycheck, severance payments and other relevant company-provided services and benefits (e.g., stock options, outplacement services, etc.). Carefully review, process and file the paperwork. In particular, make sure you understand your options for continuation of your company sponsored health coverage (commonly referred to as COBRA) and don’t hesitate to comparison shop with other carriers before automatically signing up for this benefit. You may be able to obtain health insurance at more favorable rates through other insurance providers, such as your spouse’s benefit plan or plans offered through professional associations. Compare the specifics of the coverage, including any limitations pertaining to pre-existing conditions, to ensure the best value for your dollar.
4. File for unemployment
   It can take two to three weeks before you receive your first unemployment check, so file for benefits within the first week of losing your job. Read More
5. Update your business associates
   One of the problems associated with losing your job is that you can quickly lose touch with business associates who normally reach you through your work contact information. To avoid this problem, send a brief e-mail to your colleagues with your new e-mail address and telephone number. At a later date, follow-up with an updated resume and a more detailed explanation of your job search objectives. These people who know you and your skills are best situated to help you in your networking campaign to find a new job.