Tuesday, 4 October 2011

What do I do if I am made redundant?

Redundancy is hitting the headlines again.  Over the past couple of weeks we have heard about BAE and The Royal Navy, as well as many more companies and organisations, launching a new round of redundancies.

It is true to say that 1000s of people will be affected directly by the recent headlines.  Furthermore, even those who are not directly affected may now be questioning their future job security and wondering if they will be faced with similar headlines threatening redundancy over the next year.  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 this is where I hope I can help you formulate some plans for the future. 

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.  Have a read of my blog on writing a successful CV here.

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 2 or 3 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?!

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