5 Things To Do Now if You're Afraid You'll Lose Your Job

Yahoo

29-03-2025

As important as it is to keep a positive outlook, you should also be prepared for the worst-case scenario regarding your employment. If there's even a slight chance that you could lose your primary source of income this year, it's time to start planning.
Be Aware:
For You:
According to a recent report from MyPerfectResume, 81% of employees are worried about losing their jobs in 2025, and 76% predicted that layoffs would increase. Similarly, the 2025 Career Gridlock Report from Resume Now noted that 60% of workers stayed in a job they didn't want to be in because they felt that switching jobs was too challenging.
If you're confused or worried about your current employment situation, it's crucial that you take proactive steps so that you don't end up in a far more stressful position. Here are five things you can do to ease the fear of losing your job.
'To ease job-loss anxiety, proactively invest in yourself,' said Sam Wright, the head of operations & partnerships at Huntr. Wright also noted that preparation significantly reduces uncertainty and fear, so you'll want to continuously build new skills through investing in yourself if you're worried about your job.
Jasmine Escalera, a career expert from MyPerfectResume, added, 'Staying competitive in the job market means keeping your skills sharp. Sixty-one percent of workers plan to upskill in 2025, with another 31% considering it.' Escalera pointed out that if you're not sure which skills to invest in, you can start by looking into the job or promotion that you want next and pinpointing any skill gaps.
If you're not sure what kind of job you want to apply for next, she suggested that you consider AI, data analysis or leadership development, as these are growing fields. You want to ensure that your skill set matches what employers are currently looking for. You may even have your current employer cover the costs of any training you wish to begin.
I'm a Self-Made Millionaire:
'Most professionals haven't updated their LinkedIn in years — or worse, they're hiding behind job titles that no longer reflect their skills,' remarked Patrice Williams-Lindo, a career strategist and CEO of Career Nomad. According to Williams-Lindo, your digital footprint is like an insurance policy, and you'll want to rewrite your resume to highlight the value you've brought to your current role. You want to do your best to ensure that your most recent accomplishments are being highlighted so that you can gain confidence if you're forced to look for a new job in the near future.
Escalera elaborated, 'Make sure you update your profile regularly and use the platform to post about your career wins and display your expertise. Your next big break could come from a recruiter finding your profile.' You never know who's paying attention to social media, so you'll want to discuss what you've been working on to see if there's a possible gap in the workforce.
Williams-Lindo shared that about 70% of the best jobs aren't posted publicly, which means that you'll want to focus on growing your network to find out about new opportunities. She added, 'If you're not networking, you're not working your options.' You can start by inviting someone to coffee or sending messages to anyone you would like to connect with.
If you're unsure about where to start with networking, here are a few options:
Attend industry events. Try to find out if your industry hosts any local events so that you can meet others.
Join online communities. Look for online communities and groups to be around like-minded people.
Keep in touch with former colleagues. Social media has made it easier to reconnect with former co-workers and friends you may have lost touch with.
The main takeaway is to remember that building relationships today can open doors down the road. Connecting with others and discovering what's happening in your industry can ease some of the concerns you may have about losing your job.
Escalera stressed the importance of an emergency fund, especially if there's a chance you could go months between jobs due to your industry. As most experts suggest, you'll want to aim to save at least three to six months' worth of living expenses. This financial safety net is mainly about the peace of mind of knowing that you could handle your bills for a few months if you were to be back on the job hunt. Then, you don't have to stress about accepting a role that isn't suited for you.
Escalera shared that a recent MyPerfectResume report found that 71% of workers already have a secondary income — 39% through freelancing or side business, and 32% by working a second job. Multiple income streams can help provide security and ease some of your concerns if you're worried about your job becoming unstable.
Escalera expanded, 'Whether consulting, selling a product or picking up gig work, having an extra income stream can give you more financial freedom.' You can begin by leveraging your current skills from your day job or tap into your interests to pursue a side hustle. This could also be the push that you needed to finally start that YouTube channel or pursue your passion for photography.
If you don't have the time for another job at the moment, you can begin by finding a high-yield savings rate or looking into investments that will help grow your funds for you. There are numerous ways that you can add an income stream to your life. The primary objective is to be proactive if you're worried about losing your job in 2025.
More From GOBankingRates
4 Things To Watch for as Elon Musk Takes on Social Security
12 SUVs With the Most Reliable Engines
Warren Buffett: 10 Things Poor People Waste Money On
6 Big Shakeups Coming to Social Security in 2025
This article originally appeared on GOBankingRates.com: 5 Things To Do Now if You're Afraid You'll Lose Your Job