How to deal with a job-loss in UAE

A friend in private equity just landed a job after being unemployed for 10 months. He’d been working at the management level for many years, loved doing what he was doing, took immense pride as he closed so many deals but then as PE suffered in the region, his employer firm was forced to close down and the entire staff was asked to leave.

 “It was like falling into an abyss. I was hit hard both psychologically and financially and it wasn’t easy for me or my family. Just to keep the kids out of it, I would step out of the house each day only to wander but I guess this assured them there was nothing wrong or changed in our lives,” he says.

There are no two perspectives on this. A job loss is very hard, more so if it comes with commitments and responsibilities but once you get over it, it seems more as a rough patch – a learning phase in life – rather than the dead-end itself.

Many who had lost their jobs in the past few years say it was very difficult for them but they have come out of it as stronger and more disciplined people. “You get the courage to face it,” as my private equity friend says.

The first thing, experts say, is to look at your job-loss differently. It does not portray you in a bad picture and does not question you as a professional. And it’s not a taboo, not if you don’t see it as one.

“Lay-offs are not personal. It is purely a business financial decision. So, you can’t take it that you are being targeted,” says A Athawale, a recruitment expert.

The best way is to move on and see of opportunities that may come along.

“Be prepared,” emphasises Caroline Gentles, Senior Consultant at Cobalt HR Consultancy. “Mentally make sure you understand why it happened (it is rarely a personal and normally a business decision), although it feels like the end of the world at the time. Turn it into a positive situation which allows you to find something new. Have your CV updated and ready to go along with contact details of a good recruiter within your industry,” she adds.

“If the company that lays you off gives you some time to find another job, seize that opportunity. Maybe take a day or two to decide if you want to continue in the UAE, look at opportunities in the GCC, or move back to your home country,” suggests Athawale.

He recommends having several plans on the top of your mind if you are stuck in such a situation. “Have a Plan A, Plan B and even Plan C and then put it into motion. One way to do that is to write down your plans on a sheet of paper. It will give you clarity,” he says emphasizing that a clear mind can solve many a problems.

The prudent will always cover for a rainy day but this is something many forget in the upgrade culture that is prevalent in the UAE.

“Plan financially. As great a country the UAE is, it also offers tremendous opportunities to spend beyond your means. Have enough savings to pay 2-3 months of rent and living expenses and a flight back home. Settle your dues before you go, don’t leave the UAE with debt as it will be impossible to return. Should you not be laid off, the money that you have saved will be a good nest egg for another rainy day,” he adds.

“Always be prepared for a rainy day, make sure you put away savings on a monthly basis, so that should you be laid off, you are financially safe,” suggests the Cobalt expert.

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