Redundancy, Your Opportunity?

Having been made redundant myself a few times I know that even if you know it is coming its always a shock. With redundancies likely to soar you need to be ready. Understanding your rights during the process is a great start but when the day arrives you need to be ready. Make sure you use a redundancy calculator and do your budgets. A tax-free lump sum payment is great but now is not the time to go on holiday. If you need a break a short weekend should do. If you do struggle with depression seek professional help.

So the first step is to get your finances in order. Pay off all credit cards is a start. The interest rates will be eating your reserves faster then you think. Stop buying anything you do not need. If you are the sole breadwinner then you really need to cut back so you do not loose your house and can still feed the family.

Secondly your new job, yes you have a new full-time job and that is your job search. Keeping your work routine is very important. Getting up early and looking every available minute you have for a job is critical. Your new job requires you to do some basics first.

Work out what you want and need from a job.
Build or update your CV. (you should really have done this during the redundancy consultation process)
Tell everyone you know, your skills and that you need a job.

Once these basics are in place you need to work out your daily plan. Using your network to find interesting roles should take up the bulk of your time. After working hours you can read paper ads, look on the Internet and so on don’t loose valuable time procrastinating during the day.

If you made up about what you want to do, think about retraining. A cheaper alternative is to volunteer for something closely related to what you would like to do. For example you want to be a project manager and study for a prince2 qualification, why not volunteer to organize an event for a local charity and learn on the job whilst you do not need to fork out any money.

Redundancy can open a lot of opportunities. Its up to you to do something with the opportunities your redundancy gives you. Career coaching can guide you through this process.

Comments 4

  1. Neil Johnson


    Having been made redundant just before Xmas last year and being over 50, I had to think a little outside the box.
    I know 50 year olds aren’t supposed to be internet savvy (according to my kids) but I have just set up a site for anyone wanting to start in the internet marketing industry where you can learn what not to do to end up spending a fortune to figure out what works.

    1. Nik

      Hi Neil,

      Good on you! You need to look at all options and sometimes starting a venture on your own could be a great solution after redundancy. internet marketing can pay off if done correctly.

      Best of luck and if you ever want to catch up you can do so via the Free Consultation link.


  2. Rommel


    Your tips are really helpful for those people who experience redundancy. At first, it is really hard to accept being redundant but it is not the end of the world. There is always a place for everyone to earn money. You just have to think out of the box. This kind of post of yours are what should be read by people who experience redundancy.


    1. Nik Lemmens

      Hi Rommel,

      Indeed, thinking outside the box is what is key to make the best out of a bad situation. Sometimes it is actually a blessing, many people don’t really like their jobs anyway, so now they are forced to look for something else. Hopefully they make the right choices and do something they always wanted to do.

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