Redundancies are rarely totally unexpected. The signs are there for months or even years before; hushed or hastily-convened meetings, job perks disappearing, changes to the established routines and damaging sales figures are a few key pointers.
The ‘announcement’ of possible redundancies is a horrible, awful event – for most. Some employees will cry. Some will be forcibly told to apply, even if they’re terrified of the prospects. Some will be at the bottom rung of the ladder and wonder what happens next.
However for some employees, particularly those who are ambitious or frustrated or bored in their current job, redundancy can be a springboard to a new career or give impetus to reappraise one’s life. The ideal scenario sees the redundant employee walk straight into another, better role with several thousand pounds in their pocket.
Here are the tips to make sure redundancy doesn’t make you redundant in life.
Consultation
There are certain steps that a company must take when looking to make employees redundant – the Money Advice Service can tell you more in this article. Those affected must be party to a fair legal process, with a minimum notice period and a period of consultation depending on the size of the company.
It might be for the best
Think about it – no business that’s on an upward trajectory makes people redundant. It’s entirely possible that your move is the first of several waves of redundancy, but you have the advantage of looking for roles elsewhere now.
Therefore your redundancy could actually give you a head start in the job search hunt.
For that reason don’t be afraid of putting yourself forward, particularly if you can sound out potential jobs elsewhere quickly. You might not believe it, but even council leaders put themselves forward for redundancy.
Ask your soon-to-be-ex boss for advice
It sounds counter-productive to ask one of the main people responsible for your new circumstances if he or she has heard of any opportunities elsewhere. But they will feel guilty that they’ve bought your social and economic life crashing to a halt, and could look for ways to help.
They might be able to put in a good word somewhere as a referee, or arrange for you to meet potential acquaintances of note.
Start searching
Roar into fifth gear the moment that you know redundancy is a possibility. If you don’t have one, create a LinkedIn account and sign yourself up for every possible relevant job alert. It’s up to you whether you decide to tell the world of social media, but your Facebook friends may know of opportunities, or might offer advice. One tip though – launching into an angry tirade about your current employers will not do you any good, even if you do feel like letting off steam and even if they do treat you like this, reported in HR Grapevine.
Age
The most difficult age to be made redundant is in your 50s – you’re too young to retire but too old to learn new skills. Except neither of those widely held views are necessarily true.
Regarding the former; if you’ve amassed decades’ worth of redundancy pay then you could at least consider part-time work, which will give you time to pursue hobbies and interests that you’ve been meaning to take on for years.
Regarding the latter; you have experience and hopefully people skills that could be valuable. You could even sign up to a distance course or night course that could bring you up to speed with the ‘youngsters’.
Lack of income
There are multiple steps that should be taken to ensure that a tough time doesn’t become a desperate one. Step one is probably to put aside enough money for two to three months living, including mortgage/rent, food, insurance and other essentials. Decide whether you really need extras such as satellite subscriptions and luxuries – you only need drop them until you get back on your feet.
If you have mortgage payment protection the insurance company will pay for some or all of your payments for a certain period. Failing that, ask your mortgage lender if you can take a mortgage holiday for a month or so.
