Dealing With Redundancy Or Job Loss In A Positive Way
Redundancy or losing your job can occur at any time in your career. It’s generally shocking when it occurs unexpectedly, or extremely stressful when its looming if your company is going through financial difficulties. Redundancies occur in good and bad economical cycles. Companies always have to find means of restructuring and reducing their operational costs when profits are threatened or if the company’s existence is questionable, which subsequently results in job losses and redundancies.
Having said that its not the end of the world. It is difficult to see through the stress and isolation that you may be experiencing. The only way to overcome the negative cycle is to do something about it. The fact that you are doing something about it means your mind is engaged in a positive activity.
We experience change throughout our life and this is just one of these negative changes that can be overcome, and its all about creating opportunities for now and the future. Facing redundancy or job loss is very stressful. However if you let it eat you from inside, you achieve nothing and you do not progress. Your stress and negativity will be apparent to others and although friends and family help, its easier to help someone who has a more positive outlook to the future irrespective of the financial circumstances of our environment.
Major issues such as finances, status and self-esteem take a major knock. To some people job loss or redundancy can feel like bereavement. When redundancy happens to you, you go through several stages over the course of time known as SARA:
(S) Shock: This is when something such as redundancy occurs when not expecting it or when you are concerned that it might occur and then actually happens. This is when you feel at your most vulnerable and ineffective in doing something about the situation.
(A) Anger: This is when your emotions start to take affect, and you become agree at the circumstances which you find yourself in, angry about why it happened to you when you don’t deserve it, angry when its happened at completely the wrong time in your life (emotionally and financially).
(R) Resistance/Rejection: This is when you question why its happened to you when you least deserve it compared to others perhaps, going into denial, you start thinking if you had done things differently the outcome would have not been as bad for you, you start to distance yourself from the reality behind the current circumstances you find yourself in.
(A) Acceptance/Help: Once your anger has subsided, you will start to accept the circumstances that you currently find yourself in and start to look at the future and your horizons. You start to look at ways to get back on track with your objectives and finding solutions to your future.
Your Next Action Steps
Get your CV reviewed and updated. Share it with friends and family to get feedback and improve it further. Checkout our CV section to get advice and ideas on stylisation of your CV. If you can afford it, it is recommended that you get a professional CV author to rewrite your CV or give you professional critique.
Submit your CV onto job boards, which will make your CV visible to all recruiters. Start applying for suitable roles immediately after you’ve registered.
Get a list of objectives drawn up on paper or in a small notebook or even on your PC as a task list. Make short term and medium term objectives, for example which markets you want to tackle, which agencies you want to speak to or which job boards you want to submit your CV to. Create some methodology that you can follow, a system that suits you. Be consistent and regular. Getting yourself back in the job market is a job within itself, so approach it as if its part of your day-to-day job.
Remind yourself every day, that it’s a mini project. You have to accept that not everyone is going to like your project, so expect lots of rejections. Do not get depressed by rejections, persever and dont give up, as at least someone took the time to look at your application. Try to get feedback from every rejection, however the recruiters are too busy to provide feedback to everyone, but there will be some, and when you do get it, it might be useful and helpful.
Start networking. Go though your phone list, contact everyone you know, telling them that you are back in the job market, and you are looking and if they know of any opportunities for you where they work. Consider joining LinkedIn and start to network with recruiters and employers in your field of expertise.
You might have some time on your hands whilst looking for your next job and nothing is worse that sitting at home wondering what to do with yourself after you have completed your daily job search tasks and objectives. Consider volunteering, it will help in giving you a routine, also contributing back to society will help in generating a positive feeling. You never know you might meet someone who might present you with an opportunity.
Redundancy Financial Adjustments
When redundancy or job loss occurs, the most immediate affect will be your income or cash flow, the lack or stability off. It is the second most stressful event that results from redundancy or job loss. Therefore you need to immediately look at your finances, re-organise your finances and reduce your day to day costs.
It is essential that you receive your redundancy entitlement from your previous company and also visit your local job centre or call their hotline as soon as you are out of work to claim any benefits that you’re entitled to. Make sure you are getting all the financial help the state provides. This is not the time to be too proud to ask for all the help the state can offer, you are entitled for this help.
Remember, every penny helps. Now its time to sit down and outline all your outgoing costs (mortgage, credit cards, monthly utility charges, food etc…). Stop any unnecessary costs. Shop around for the best and lowest costs for all your utilities, you have the time to do this now after all.
This is a short term economising exercise and once you are back in a job you can spend more. Speak to your mortgage and credit card companies and see if you can reduce the interest rate, reduce the payments or delay payments, without penalties or raising concern of your current circumstances.
There you go, use these valuable tips to get back on the right track and start making a difference for yourself and the people around you.
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