How to handle redundancy and what to do next
Being made redundant is never easy, but unfortunately it does happen. For many people, redundancy is a daunting prospect that brings with it financial concerns and confidence knocks, but it is something that you can recover from. In this blog we’ll talk you through what to do if you’re made redundant and how you can turn this negative into a positive and get your career back on track.
Whether your redundancy has been as a result of a change in team structure, company cut backs, or other circumstances beyond your control; it can be a bitter pill to swallow. But rather than taking it personally or panicking, it’s important to take a breath, refocus and move forward.
If you’ve recently been made redundant, here’s what you need to do next:
Process the information
It’s important to take the time to digest the information that you have been given during your redundancy process. It’s likely you’ll have had an overview of what happens next, along with added details from your company’s policies and procedures, so be sure you take the time to understand them.
What’s the notice period? What will you get as redundancy pay? Does this include unused holidays? Is there an option to move to another role within the company? Will you be allowed time off to find a new role during your notice/consultation period? Start by checking all of these things with your employer to avoid any confusion and uncertainty.
Avoid knee-jerk reactions
It’s common to feel emotional about getting made redundant but important that you don’t take it personally and burn any bridges with your employer. Redundancies are difficult for both the employee and the employer so throughout the process try to stay calm and professional. It’s also likely that you’ll need your employer to provide you with a reference, so getting one that glows will be really helpful when you’re on the hunt for a new role.
Updating your CV after a redundancy
Once you’ve come to terms with being made redundant and feel ready to find your next challenge, it’s vital you get straight to updating both your CV and LinkedIn profile. Put it out there that you’re available and looking for a new role, as many of your connections might be able to point you in the direction of a new position - you never know who might be hiring!
When updating your CV, you don’t need to include a reason for leaving your last position, as it’s something that you can discuss once you’re selected for an interview. The same goes for including that you’ve been made redundant. Take a look at our guide to updating your CV if you need tips, as it’s filled with help to get your most powerful marketing tool doing its job.
Build your network
Along with updating your CV and LinkedIn profile, it’s vital that you leverage your network. Build a team of advocates by using your connections to help rustle up leads and bolster your search. Choosing a specialist recruitment agency to assist you in your search can also be a help. We can act as your wing person, telling you who’s hiring in your field at the moment, making introductions and using our huge network of connections to find the best role and company for you.
Make a plan of action
It can be really hard to pick yourself up after a redundancy but making a plan of action will give you a new and much needed sense of control. Treat looking for a new job, like a job. Decide what time you’re going to start and the steps you’re going to take to find yourself your next role.
For some people, redundancy can give them a new lease of life; making that career change they’d been considering for a while, learning a new skill, doing a course or setting up on their own.
If you do fancy a change, you could look at alternatives to permanent roles by securing yourself a freelance contract or interim position. There are more than five million self-employed people in the UK and for many people the freedom of being a freelancer allows a much better work-life balance.
For many, the option to 'go contracting' is the ideal solution after a redundancy as taking on a temporary role allows you to really understand what your next move will be. If this is something that appeals to you but you’re not sure where to start, get in touch with our specialist Contract Teamwho will be able to run through how to set yourself up and where to begin finding your first temporary assignment.
Dan Haydon is Associate Director and an IR35 expert at Forward Role, you can find more about him HERE
If you’ve recently been made redundant and are wondering what to do next we’re always on hand with help, advice and support. You can give us a call today on 0161 914 8499 or email us on email@example.com.