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How to Handle Redundancy

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Being made redundant is one of the most challenging things that can happen to you, so it’s important to be prepared as no matter how stable you may think your job is, the future of companies always has an element of unpredictability to it. Being made redundant can be a real shock to the system and makes you realise just how reliant every part of your life is on your job. To avoid letting your life go into disarray, it is important to follow a few vital steps to keep things on track and limit the damages.

Employer Responsibilities

First things first, you need to make sure that your employer has met all of their responsibilities. They will have to give you a certain amount of notice and it is important to make sure that you get this, as it could give you time to find a new role without going through a period of unemployment. They will also have to give you a written explanation as to why you are being let go, and this is important to read as it will stop you from assuming the worst which would have a negative impact on your own state of mind, and your ability to stay proactive. When deciding who to make redundant (if they have a choice) certain things such as qualifications and competency must be considered, and if you feel that they haven’t been it will be a case of unfair dismissal. In some cases, you will also have to be offered a redundancy payment package.

Your Responsibilities

Your responsibilities during this time are to look after your state of mind which can take a real hit after redundancy, as you will start to doubt your abilities and the prospect of secure future employment. You need to understand that being made redundant is not a reflection of any misconduct by yourself, it is merely a reflection of the company’s inability to afford their current staff numbers. Being made redundant can be a blessing in disguise as it frees you from the constraints of a job working for a company with limited success, without having to make the difficult decision yourself, and forces you to consider what you’d really like to do next. If you’ve been in the role for a while, this will show future employers how dependable you are and most skills are marketable in many different industries, so you have the freedom to choose a job you can really progress in.

You also need to be very careful with your finances during this time. The period of unemployment that you are going to face is of an unknown quantity, unless you’re happy to choose a low paying role until you can find something better. You can also visit gobear.com for some help during this time. Therefore, you need to make your money last as long as possible, which involves minimising your spending. Don’t be ashamed to get help from the government during this time, that is what they are there for and it will only be a temporary measure. It is more important that you look after your wellbeing than your pride.

When it comes to searching for a new job, make sure you approach it in a structured, dedicated way so that you don’t become overwhelmed or downhearted. Ask for professional help when it comes to showcasing your skills too.

A period of redundancy can be one of the scariest times of your life, as you are suddenly without income yet you will still have all of your responsibilities. It is easy to let the panic overwhelm you however, keeping a clear, focused mind is the difference between letting this experience ruin you or be the making of you. For more advice on how to succeed in your career, take a look at leadertoleader.org.

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Sean Jacobson

I'm Sean, a former HR and business consultant providing you insights into the business world for Leader to Leader.

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