Redundancy – A miserable ending or a great opportunity?

 

Redundancy, that dreaded R word that until it happens to you, is very difficult to explain how it feels. That is exactly it – we often hear about the strategic reasons for a redundancy or which role or roles it will impact within a business but not how this may affect you and how you feel. Clearly there is the “correct” way to handle a redundancy, process, process, process….however there is also the “right” way.

I do question how balanced employers are when it comes to the cold process and the individuals it will impact. Don’t get me wrong, redundancy is not meant to be personal and is purely business – but then why can it feel like it is one of the most personal experiences you may go through in the world of work? The difference between how you are left feeling is the delivery, the tact, the professionalism and the humanity of approach.

Early this year I went through redundancy and wanted to share my tips on how to handle it.  Whilst redundancy is not a pleasant situation to experience, it may be a blessing in disguise and there is certainly an opportunity to continue your career in the direction you want.

Redundancy casts a certain doubt of your future – you may feel helpless and worried. Talking with people who genuinely care about you is a great place to start, bottling it up, even though it might feel safer is not recommended.

Here are some of my tips:

Recruiters

Find a recruiter who can support you in your search for work. Choose one who is experienced, and knows their area of expertise, the chances are they will have a far reaching network then you could imagine and will work with you to find your next role.

Your CV

Ensure this is up to date and highlights not just your roles but your key achievements throughout your career. Sounds simple! Don’t forget to get someone to proof read before you use it.

 

LinkedIn

Keep your profile up to date, be active, like, comment, share, write blogs. Try and expand your network with relevance and engage to seek opportunities. Follow businesses that you might be interested in working for and join groups relevant to your industry and role.

 

Look after your money

Not everyone gets a “payout”, really try and manage your money carefully. Stress about money is the last thing you need and can take your focus off getting the job you want.

 

Look after yourself

Eat well, exercise, talk, relax, spend time doing what you love. The stress of redundancy can lead to neglecting yourself – please don’t. Stay in a routine Of course, afford yourself an odd lie in or lazy day, but each day get up and have a plan. Get dressed, search for roles, get out and network.

Network

Engage with your former colleagues, connections across LinkedIn and any former clients and / or contacts to see if they know of any opportunities within their company or within the wider industry.

Reflect

It’s a good idea to map  out what you need and want from your next role –what’s important? This will help you ensure you are making a considered move rather than a panic move.

If you are facing redundancy and work in finance please don’t hesitate to drop me a message and let me see if I can assist in finding you your next role.

What are your experiences of redundancy? Was it easy to move on or was it challenging? What would you do if you had to go through the experience again having learned from the first?