These days, redundancies are commonplace and a by-product of the modern workplace as businesses continue to drive what at times feels like a never-ending cycle of change (and quite possibly bottom line cost reduction). They may be quite common and routine but when it happens to you out of the blue? Redundancy can be tough to cope with at first. The feeling of suddenly not being in control of your career, livelihood and security, as well as the slight stigma associated with being “let go” can be quite challenging. In these circumstances, it can be easy to take it personally and fall into a cycle of self-reflection, but it’s important to remain positive.
If you have been made redundant I’m not suggesting you will necessarily want to celebrate but a positive mind-set and pragmatic understanding of the drivers (outside of your control) behind it are key. Here are 5 reasons why redundancy can actually be a positive step for your future direction.
1. Redundancy can help you reboot
It is understandable to want to rush into a job search soon after being made redundant, especially if you have kids, mortgages or other financial commitments to bear in mind. If you can, budget accordingly to allow yourself to have some well-earned downtime, or time to travel, to start a hobby, passion project or even your own business idea. You might want to consider whether you even want a new job back in the market or would prefer to do something by yourself. Redundancy will be like pressing the re-set button.
2. Redundancy forces you to evaluate your career
If you have been with the business for a few years, chances are that you are comfortable. A redundancy challenges you to take a step back and assess where you are heading in your career. Are you passionate about what you do? Redundancy is a circuit breaker from the daily grind and can help you re-align with the path you originally set out on, or push you to explore different avenues you would not have previously considered. Many people I have spoken to post-redundancy have said it was one of the best things that happened to them because it forced them to take stock of where they were versus where they wanted to be in their career. A great career tool to use is The Career Optimiser which provides you with the insight and tools to maximise your ability to manage your career with a six-step system.
3. Redundancy gives you the time to take the next career step mindfully.
Have you ever tried looking at the job market while you are working? It can be a stressful, time consuming and secretive operation that usually involves you sneaking around, adamant that your boss and co-workers are on to you. When you aren’t working, you can really take the time to partner properly with trusted recruitment agents. It allows you to be flexible not only with times to meet for interviews but also allows you to consider contract or temp-perm opportunities to “try before you buy” rather than locking yourself into another permanent role without properly knowing the business and its people. You have plenty of time to research your industry and companies you wish to join, practice your interview techniques and get your CV looking competitive. You can also make a long list of things you do and do not want out of your next role! Here are our tips on how to run your next job search like a pro. Ask yourself whether you would benefit from a re-evaluation of your values and needs.
4. A redundancy package can be used to up-skill yourself.
In the majority of cases, being made redundant entitles you to a decent pay out. Use it as an opportunity to invest in further education or coursework. It could be anything from doing another degree to taking a course on public speaking, anything that will help you upskill yourself and get ahead. You don’t have to commit to studying full time and being out of the job market permanently (unless you want to) as there are plenty of options available online that you could do remotely from home or at your own pace.
5. Redundancy allows/forces you to re-connect with your network.
Yes, your network will be crucial to surviving redundancy. This applies to both your personal and professional network. Those that you should keep in touch with but never find the time to when you’re burning the midnight oil on a deadline. Your professional network keeps you in touch with the market and what your peers are doing. You’ll find out about job opportunities that aren’t being advertised and could potentially get referred into a position by someone that works with a company you are keen to be introduced to. Then there is your personal network of friends and family who can get regularly pushed aside when you’re just too exhausted with your work schedule. These are the people that will be there as your sounding board, people who will listen to all your frustrations and the highs and lows as you go through the redundancy experience.
Whatever path you decide to take post-redundancy, just remember to shake off any negativity and you will only come out the other side a stronger, more competitive and focused person and professional! Read our story, positive minset positive outcomes, on how our Director helped a close friend deal with redundancy.
Have you been made redundant? What has been your biggest hurdle?
Our contracting team is experienced in helping professionals get back into the workforce after redundancy.