Redundancies are something that is very common when the economy is slow. At the moment, many large companies are preparing to make large scale redundancies. There are few people who will not know of anyone, either at work or outside of work, who has not faced redundancy.
How to Cope with Redundancy
This article focuses on how to deal with redundancy and is useful for anyone who is facing redundancy or is likely to face it in the future. Even if you do not like your job and are aiming to move on, being hit with redundancy is never a nice feeling.
People who have been made redundant can be hit by many emotions including shock, anger, depression, vulnerability and many more. The key to handling redundancy is to objectively assess your situation and to come up with the best available plan.
Your employer may put you into a period of consultation, where you can apply for other jobs at your company. Objectively consider whether this is a good option for you, both financially and mentally. If it is make sure that you prepare yourself for the job interview process.
Final Redundancy Settlement
You need to ensure that you get the most out of your redundancy settlement. Naturally, a good compensation package, but also you should make sure that you get retraining included in your package.
Plan To Cope With Redundancy
Redundancy can be an opportunity for you to make a career change. Further your career or take time for yourself to develop your skills.
Check that your redundancy upholds your rights. Check that this is a genuine redundancy, your settlement is suitable and you have received enough notice or you have a consultation period (if applicable).
You can use it to help you change careers, which may be useful if you are in a job that is being phased out or you dislike the job. You can also use your training to strengthen any weaknesses, get a good qualification or get a promotion.
Accept the situation and make the best of it. If the employer has upheld your rights, try to accept the situation and do not allow it to worsen your relationship with your manager. You never know when you may need their help in the future.
Compensation and Benefits
If you have a compensation package it will buy more time to find a job. However, try to use contacts from your work experience to find a job. Also, use your training effectively and work on your CV to make yourself attractive to the employer.
Overall, you need to try to objectively deal with the situation and have a clear plan throughout the process. This will help you get the most out of your redundancy. This was not your ideal situation, but you can use a careful plan to retake control of the situation for your own benefit.
This article is written from the experience of a PA, who took a PA Course to career progression after a redundancy. However, the principles will relate to all job types.