What To Do When Facing Redundancy
Losing your job is one of the five most stressful events you will ever experience. However, panicking will only make the situation more difficult. Stress can be both physically and emotionally draining, so you need to stay calm in order to deal with this difficult situation in the best way possible.
So, stop. Breathe. Take a step back and let’s look at what you can do next.
If you believe you have been unfairly selected for redundancy, or you believe your employer is not following correct procedures, you could potentially appeal or claim unfair dismissal. ACAS will be able to offer support in this situation.
Otherwise, understand that redundancy is not personal. It is not a personal attack on you. Unfortunately, at times, it is a cruel part of business. That is why you need to focus on the facts, figures and policy, and not the personalities involved. Remember, you may require a reference from your current employer so, as difficult as it may feel right now, try to ensure the leaving process is as amicable as possible.
You will need to prioritise answers to these questions:
- What is your current financial position?
- Will you be eligible for any benefits?
- Are you equipped to seek further employment?
- What is happening in your local labour market?
- Have you considered re-training?
Finances
Write down all of your monthly out-goings (rent/mortgage, gas, electricity, phone, insurances, credit card bills, car payments, children’s clubs, etc). Include a monthly amount for basic living costs — food, tobacco, alcohol, clothes, toiletries, healthcare such as prescriptions, and dentist — and also factor in fuel, if you have a car. Don’t forget to include something for emergencies. This will provide you with an instant understanding of your current financial position.
At this point it is a good idea to contact Jobcentre Plus, or visit www.gov.uk, to find out if you are entitled to any benefits at this time.
Are you ready to seek employment?
Do you have a CV? Is your CV up to date? Is your CV meeting the needs of employers today? It can help to talk to someone else about what is relevant on your CV, and also to recognise other important skills you use out of work. Stay Nimble can help you identify your skills and strengths in order to ensure your CV is a good reflection of you and all that you have to offer a new employer.
When did you last have a job interview? Are you ready to talk about your abilities? Again, working with a Stay Nimble career coach can help build your confidence, help you to identify your strengths, and learn interview techniques so that you are fully prepared for that next job interview.
The local labour market
- What is happening in your industry?
- Why has your company made redundancies?
- Use your networks — work colleagues and contacts — to find out if the industry has changed locally.
- Are employers looking for new skills?
- Will you need to gain additional training in order to meet these new demands?
- In what other industries would your skills and experience be relevant?
Training and upskilling
While redundancy can be a traumatic experience for many people, for some it can also be liberating. Now is a great time to explore what else you would like to do. Have you ever considered re-training, perhaps enrolling in workshops to increase your knowledge, or going to college or university? Remember, some college and university courses operate part-time, and many take place in the evening so you can still work and earn while you study.
Chatting through your ideas with a career coach can help you navigate the path you would like to take.
Stay Nimble can get you started with free tools and online courses in the Learning Hub. To use the resources on our award-winning platform, you just need to sign up as a member. Sign up here: https://staynimble.co.uk/register/
