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Coping with redundancy

The word ‘redundancy’ is one that we are hearing more and more these days, due to the uncertain economic times in which many companies are finding themselves in. It is also a word that can cause much stress and worry for workers who are employed in a company who is seeking to ‘make cuts’. Often the period in which no one is certain who will be made redundant is the worst. It is the waiting, the not knowing and worry of what happens if it happens to you!

The advice we provide here is designed to help you understand how best to cope with redundancy, how you can survive it and use it to your benefit.

Top tips for coping with redundancy:

  • Make a plan: whether you want to take the opportunity to go travelling, study, embark on a new career direction or find employment again within the same field, the best advice we can give you is to make your decision from the outset and make a plan on how to achieve it! If you wish to find employment again straightaway, begin the process of creating your CV, analysing your skill sets and experience. Know who you are and what you can bring to a new company. Read our advice on searching for a job and CVs and applications. Set some time aside every day for searching and applying for jobs.

    You should also consider registering your CV with recruitment agencies to ensure that you have all avenues of the job search covered – don’t miss a thing!

  • Stay positive: It is important to remind yourself that you as a person are not redundant – your previous job is redundant. Going through the process of creating your CV can be enlightening to you by highlighting everything that you have achieved and can offer a new employer – your experience, your education and your skills. Understanding this is the key to being successful in the search for a new job. The better you know yourself, your worth and what you can achieve, the more confident you are and the better you can portray yourself to any potential new employer.

    A positive attitude also helps drive and motivate you. It keeps you focused and driven on the task at hand.

  • Keep busy: Until you land that new job, be sure to keep yourself busy and motivated. The searching for a new job is very much a full time job in itself and if approached correctly, should take up quite a bit of your free time.

    Resist the temptation to lie in bed and wallow. If you have free time, take up a hobby, do some voluntary work, meet up with friends or family. Do not cut yourself off from the outside world. Staying in touch and keeping yourself busy will keep your mind active and focused.

  • Review your spending: We often do not actually sit down and look at what we spend our money on, until we need to tighten the purse – be that because of redundancy, a new baby etc. Review all your spending habits and cut down where you can. Make whatever money you have (or are receiving) last longer – giving you more breathing space in your search for a job.

Know your statutory rights: ensure that you are receiving everything which you are entitled to by law. You may be entitled to cash help from the government or local authorities – including job seekers allowance, housing benefits, council tax benefits etc.   Ensure also that you have received redundancy payment, if you are entitled, from your employer. For more information please read the Citizens Advice Bureau’s advice on redundancy

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