If you’re going through a redundancy or have in the past, you’ll understand the enormity of change it can cast on your life. In today’s business climate, redundancies are common and usually out of our control. As technology evolves and workplaces change, restructures occur and redundancies become inevitable. Then there are national and global events that no one can prepare for.
Being made redundant is generally a stressful time, with the loss of income and uncertainty about your next steps. But it can also give you a chance to pause and reassess your career path. It can be the catalyst for positive career change and ultimately take you down an exciting new road.
Read on for our tips on how to bounce back.
Don’t panic! Resist the urge to spring into action immediately. Take some time to regroup and reflect on your new direction. Remember, you’re not alone – many people go through a redundancy at some stage. In fact, there was a 45% increase in redundancies from 2017 to 2019, according to the Australian Bureau of Statistics. And it doesn’t necessarily reflect badly on you, since many companies have downsized or restructured in recent years, and there are often circumstances beyond your control.
Reassess your career path. This is an opportunity to evaluate your career path and goals. Make the most of the time you have now to set a new course for the future. Look back on your career to assess previous roles and reflect on what you enjoyed. Consider different factors for your next role – for example, market sector, location, company size, organisation structure, responsibilities, salary and benefits. This can help you pinpoint your preferred path. And once you start searching for a new role, this information could provide a perfect recruiter brief, helping recruiters to understand what’s important to you and where you want your career to head.
Consider studying or retraining. If you’re interested in a change of career, research the skills needed to make that change. Look at online and face-to-face courses and get a clear idea of what’s needed to move into your chosen area.
Update your resume and LinkedIn profile. When you’re ready to kickstart your job search, your first task should be to update your resume, LinkedIn profile and other relevant profiles. Nearly every industry uses LinkedIn to research candidates, so make sure your LinkedIn profile is more than a storage place for career contacts – it should be an evolving record of your professional life that helps market you as a great candidate. Make sure your work experience is up to date, your profile picture is current and your contact details are displayed. You can also set your profile to ‘Looking for a job’ which makes it easier for prospective employers to find you. Once your LinkedIn profile is up to date, you can align your resume with it, adding more detailed information about your responsibilities and achievements. Having your resume ready to go means you can take advantage of opportunities as they arise.
Start your job search. After preparing your LinkedIn profile and resume, it’s a good idea to brush up on your job application and interview skills. You should also register with relevant recruitment agencies and set up automated job searches on Seek and LinkedIn. If there are specific companies you’d like to work for, visit the careers sections on their websites and send them your resume. Or you could try connecting with current key employees on LinkedIn.
Reach out to your networks. Leverage your network of connections by letting them know you’re looking for a new opportunity. Email them, call them, organise a coffee catch-up – you never know where it may lead. Taking advantage of your network can be key to securing your next position.
Maintain a positive routine. Your mental well being can take a hit when going through a redundancy, even if it’s voluntary. Work provides a huge amount of structure to your life, so when you no longer have that, it’s important to create positive routines for yourself. This will help you maintain a healthy body and mind and a professional presence. Do things that make you feel good such as exercising, eating well and catching up with friends and family where possible. Redundancy doesn’t last forever, so staying positive and focusing on your well being alongside planning your next career move will help you progress in the right direction.
Stay open-minded. The job market constantly shifts, salaries fluctuate and competition can be fierce. While it might not seem ideal initially, being open to compromise when it comes to your next role or salary can help you find the right opportunity. It won’t always be as simple as walking into a similar role in a different company or jumping straight into your dream job. Use your redundancy as a chance to assess different types of roles that might be a good fit. Think laterally, considering your transferable skills and what you enjoy most. Your next role may not always be what you expect – but it could be your best yet!
The time following a redundancy is usually fairly stressful and extremely unsettling. You’re stirring up all kinds of emotions including disappointment, anger, resentment, shame, anxiety, and uncertainty, which can all lead to reduced levels of confidence and self-belief. Despite this, it’s important to look to the future – and maintaining a positive attitude is going to help you in achieving your next role.
At 29 years old and six months pregnant, I was made redundant from a senior executive role. Despite the fact my company had recently been bought out, I was caught completely off guard. Looking back now, it was definitely for the best, however there was a period of pain and anxiety, not helped by all the ‘what ifs’ surrounding the impending birth of my baby. I got through it and managed to come out the other end with better options and an improved outlook on my career.
Here are our tips to help minimise your own pain in a similar situation:
Be positive. OK this is hard because when faced with challenges, we tend to focus on the negatives. Accept this natural emotion, then try to encourage positivity by engaging in activities that help you think clearly and optimistically about your future.
Take a step back, then forward. Try not to panic and jump straight into searching for a new role. Give yourself some time to acknowledge your feelings and work out if this could be an opportunity for change. Ask yourself if you are in the right career or if you could undertake study or work towards diversifying your skills. Grieve the loss if you need to, however the sooner you let go, the better. Redundancies are business decisions, so accept it is out of your control and try not to take it personally.
Start networking. The sooner, the better. If you’re not on LinkedIn, now is a great time to create a profile. Invite colleagues to connect and let them know you are seeking new opportunities.
Sort out your finances. Depending on your financial situation, you may need to seek financial advice or talk to your bank about loans. Do this quickly, so you have one less thing to worry about.
Maintain a routine. Treat Monday to Friday like a working week. Dress like you are leaving the house and establish a schedule. Aim to complete some job search tasks every day – these might include networking, searching for jobs online, talking to recruitment agencies, polishing your resume, or practicing your interview skills.
Seek professional help. Career Consultants provide independent advice and up-to-date job trend information. They can help with career transition by advising how to position yourself in the market, identify job opportunities, and present yourself effectively to potential employers. They’ll also help boost your confidence and ease some of the anxiety you might be feeling at this time.
Polish your career documents. Revamp your resume or enlist a professional to prepare a resume and cover letter for you. If you’re applying for government positions, you may need assistance preparing Selection Criteria. Having a set of professional documents you feel proud of will also help boost your confidence.
Start looking for a new job. Think about the perfect role for you. Research job sites and the careers sections on individual company’s websites. Meet with recruitment companies, and talk to colleagues about who you could approach for assistance. Then start applying!
Practice your interview skills. You could enlist a professional or simply think about the types of questions that might be asked. Devise your perfect answers, and practice responding so you feel more confident and prepared.
The period following a redundancy can be stressful, however it is important to look to the future. By all means, take some time out, but don’t wait too long to begin your job search. This will allow you time to achieve the perfect role, rather than becoming desperate and needing to take the first thing that comes along.
The time following a redundancy can be tough, with all kinds of emotions stirred up including disappointment, anger, resentment, shame, anxiety, and uncertainty which can lead to reduced confidence. Despite this, it’s important to maintain a positive attitude while searching for your next job.
Here are our top 10 tips for minimising the pain:
Accept the loss and move on. Acknowledging feelings of loss may help initially, however the sooner you let go, the better. Redundancies are business decisions, so accept that it is out of your control and try not to take it personally.
Encourage positive thoughts. When faced with challenges, we can be prone to negativity. Accept this natural emotion, then try to encourage positivity by engaging in activities that help you think clearly and optimistically.
Start talking to people. The sooner you start networking, the better. If you’re not on LinkedIn, now is a great time to create a profile. Invite colleagues to connect and let them know you are seeking new opportunities.
Get your finances in order. Depending on your financial situation, you may need to seek financial advice or talk to your bank about loans. Do this quickly, so you have one less thing to worry about.
Maintain a routine. Treat Monday to Friday like a working week. Dress like you are leaving the house and establish a schedule. Aim to complete some job search tasks every day – these might include networking with old colleagues, searching for jobs online, talking to recruitment agencies, polishing your resume or working on your interview skills.
Think about your future. Ask yourself if you are in the right career. Is your market in good shape? Think about whether you could undertake study or work towards diversifying your skills.
Seek professional help. Career Consultants provide independent advice and up-to-date information on current job markets. They can help with career transition by advising how to position yourself in the market, identify job opportunities and present yourself effectively to employers. They’ll also help boost confidence and ease some of the anxiety.
Polish your Resume. Revamp your resume or enlist a professional to prepare a resume and cover letter for you. If you’re applying for government positions, you may need assistance preparing Selection Criteria. Having a professional document you feel proud to send out will also help boost your confidence.
Start looking for a new job. As quickly as possible, think about what your perfect job looks like. Research job sites and the careers sections on individual company’s websites. Meet with recruitment companies, and talk to colleagues about who you could approach for assistance. Then start applying!
Practice your interview skills. You could enlist a professional or simply think about the types of questions that may be asked in an interview situation. Devise your perfect answers, and practice responding so you feel more confident and prepared.
The period following a redundancy can be stressful, however it is important to look to the future. By all means, take some time out, but try to begin your job search quickly. This will allow you time to achieve the perfect role, rather than becoming desperate and needing to take the first thing that comes along.
If you are struggling following a redundancy, please see our career coaching services. If you are interested in getting assistance from a professional resume writer to prepare a winning cover letter and resume for your next job application, please see our Resume Writing Services. We also offer Outplacement Services to organisations looking to support their employees through redundancy.
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If you’re going through a redundancy or have in the past, you’ll understand the enormity of change it can cast on your life. In today’s business climate, redundancies are common and usually out of our control. As technology evolves and workplaces change, restructures occur and redundancies become inevitable. Then there are national and global events that no one can prepare for.