Coping with redundancy

How many people do you know who have been made redundant? Perhaps you have even had experience of redundancy.  

Redundancy seems to be a common occurrence as it hits the headlines time and time again. Many people are affected directly by it and others start to question their future job security, wondering if they will be faced with threats of redundancy during their career.  Whatever your circumstances, it can be a gloomy and worrying time.

If you are being made redundant, you will have many questions spinning around in your head at the moment:

Where is the money going to come from? What shall I do for a job? How long will it take to find a job? How will this affect my career progression? Is this the time to think about a career change? How can I regain my confidence? 

You want answers to  these questions and so the best thing to do now is to take some time to plan your next steps. The next few weeks or months may seem overwhelming and it is important that you move forward in the best way possible and limit the stress you may feel. 

Here are a few areas to consider when preparing your plan:

1.Give yourself time and space

Allow yourself time to get used to the idea. Your job is likely to have been a large part of your life and you now have to face some changes ahead. Use your friends and family for support.

2. Review your finances 

What is your redundancy package? How much money do you need to meet your outgoings? Can you cut back on your monthly outgoings?

3. Consider your career options

Perhaps you have been thinking about pursuing a career change or career break for a while. Can this be the opportunity you were looking for?

4. Update your CV

Review your key qualities, skills and recent achievements and ensure they are included on your CV. 

5. Use your networks

This is the time to start touching base with all your contacts. Consider who you know from previous jobs, training and courses as well as through your friendship group.

6. Contact two or three recruitment consultants

Register with a couple of recruitment agencies to increase your job search.

7. Make speculative approaches

Make some speculative approaches to organisations of interest to gain accurate information about your job market.  

8. Career coaching

This may be a good option to help you move forward.

9. Relax

Allow yourself time every day to relax and to do something you enjoy.  Finally, for some light reading, grab a coffee and have a read about the possible UK launch of job loss cards, as used in the USA,  here?!