Ten ways to survive redundancy

With global pressure on the domestic economy, rises in National Insurance Contributions and the minimum wage, many employers may use redundancy to cut costs.

Mike Wasinski, partner at our Manchester office has 10 tips on redundancy that could turn a nightmare into a break.

 

      • Don’t panic! Most people come out of redundancy with a new job, more money and responsibility or a better quality of life.
      • It’s natural to feel awful. Feelings of rejection and depression are common. If the feelings persist or get in the way of moving on, seek professional help.
      • Assess yourself, your skills, experience and abilities. Don’t undervalue yourself. Your skills and experience will be of interest to some employer somewhere.
      • Look at alternatives. You could do something you’ve always wanted to do. One client turned his hobby – collecting old LPs – into his new job. Some people become self-employed and value the freedom it brings.
      • Assess the market place. Where are the opportunities? What skills are required in which sectors? See who’s expanding and use the internet to find out where your skills are needed.
      • Use your CV. How are you going to sell yourself? Most job applications will require a CV. Many applicants, even at director level, have poor CVs. What do they need to know about you to invite you for an interview? Effective CVs are very important.
      • Networking. Many people are embarrassed to tell their friends or contacts that they are seeking a new job. Think of yourself as a product that needs to be sold and ask their advice. Approach recruitment consultancies or agencies.
      • Prepare for interview. Many people aren’t short-listed because they don’t present themselves well. Anticipate the questions and prepare short answers, especially difficult questions like “Why were you made redundant?”
      • Review your progress. Widen your search. If you’re applying for lots of jobs but not getting interviews, review your CV. If you’re getting interviews but no job offers, work on your interview technique.
      • Look after yourself. Looking for a new job can be demoralising. Rejection is a constant possibility. Make sure you have support from friends and family to help you through the bad times. And never give up.

Wasinski adds, “Redundancy often comes as a shock and can be a massive blow – but it can bring positive changes in a person’s life.

“Help is available, so know your options and make use of help and advice – perhaps from a professional outplacement consultant. They can offer support, polish your CV and interview technique and access unadvertised jobs. Your library or bookshop can also provide sources of further information.”