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How To Survive Redundancy
By: Amanda Hubbard, Excel Career Specialists
Individuals, particularly those who have been with the same employer for many years, experience a rollercoaster of emotions including shock, anger and grief. The grief experienced is not just for the loss of the role, but also for the team-mates and culture to which they have become ingrained.
So what strategies can you put in place to ensure you survive?
Time - Even if you knew it was coming and whether you wanted it or not - there is still a big emotional impact when the day of your exit discussion arrives. Because of this, you need to allow quality time to really look over your situation especially now that you have all the facts in front of you regarding timelines and entitlements.
Structure - If the plan is not to return to work once you have been made redundant, make sure that you keep some structure in your day. It can be great catching up with friends and sorting out those niggling odd jobs but you are in danger of becoming quickly bored, this is where building in a strategy of what you are doing from one week to the next will keep you motivated and inspired.
Finances - Understandably, this will be a major factor of your decision making and will determine the direction you take. Make sure that you work out a budget and plot future expenditure. Chat with a Financial Advisor; they could come up with some good suggestions on how to get the most out of your money and potentially your super fund.
Future jobs - Take this opportunity to really think about your next career step. Do you want to stay in the same role or even the same industry? Perhaps it is time to follow your dream? Review the kind of roles you have really enjoyed in the past and determine how you can incorporate the skills used into the next ideal position for you.
Job search documents - Don’t just rely on the old resume that you used many years ago to get this job; it’s time to get up to date and become knowledgeable about what will work in today’s market. By investing time into your resume you will be 80 per cent more successful in securing an interview. It is imperative that your resume is well laid out, with no grammar mistakes and that it ultimately positions you as a professional.
Interviews - Preparation, preparation, preparation - this cannot be emphasised enough.
Not only does being prepared help you manage your nerves, it showcases you as the professional you are and provides the interviewer with a real taste of how you will perform for them should you be successful in securing the job.
Networking - On average, 70 per cent of jobs are filled through networking - not advertising. Tapping into your existing networks, asking for referrals and approaching businesses to enquire about potential positions are all great positive steps towards opening up doors for your next role.
No matter where you are in the redundancy process, by taking time to think over your situation, talking, and investigating the options available, you will gain some powerful insights on how to ensure your job search strategy is a success.