Facing a Situation of Being Furloughed: Check What to do Next.
Most of us have a shared dream of growth and progression associated with our job profile. This thought has become an integral part of our life, especially after the big hit of recession last year. But the sad fact is that as the world started facing a major health crisis this year, almost 18 million Americans have been furloughed in March 2020.
The world economy is suffering severe damage this year, and millions of employees are waiting to resume their jobs. Many have a common question in their mind: Should I wait for the furlough period to end, or is it the right time to look for other jobs?
Furlough – in simple terms, are some unpaid, temporary leaves that are granted to the employees when the company faces some financial hardship. The catch is that employees in this duration can avail 401K and health insurance benefits. But they are not given any salary during this leave, and the company may call them on the job after financial recovery. However, you cannot always guarantee this callback. This uncertainty is why many people struggle hard to make a wise decision about their career in this phase. It usually gets difficult to decide whether one should wait for things to get a routine or apply for the new job.
Below we have listed a few key points to help you make a better decision during furlough:
How long can you afford to wait?
Well, this question is directly related to your financial condition. The enhanced employment benefits may help an American to earn almost $24 per hour during the furlough period. But this amount may not be sufficient for everyone to run an everyday life. Sometimes, furloughs can last for more than six months, and in such situations, you have to decide your economic conditions. If you cannot afford to wait, you should start looking for other opportunities.
Are you interested in waiting?
Furlough can give you a break from your hectic routines, and this time you can utilize to rethink your career goals. The same duration can be an anxious waiting period for someone, and few others may consider it an opportunity to switch to a new profile. During this time is the right time to access your life goals and re-examine your interests. Timely assessment may help you to make decisions about your career path.
Compare the pros and cons of staying and moving ahead:
One needs to analyze both situations’ pros and cons so that you can make a more informed decision. Take a fresh look at what you were doing so long and plan for the future. Consider all the essential benefits like pay, health care, reputation, and other career elements. Analyze the trade-offs between both and do proper planning for the future.
Furlough period can be the best time to work on your skills and learning. Whether you plan to switch to a new profile or wish to get back to the previous job, make sure you utilize this time in some productive work.