You’ve just been issued your redundancy notice. Maybe you knew this was coming. Maybe you had no idea and are in total shock.
Below, I cover 10 practical things to do when you’ve been made redundant.
10 things to do when you’re made redundant
Know your rights & obligations
Check the paperwork and do anything that you need to: seek legal advice, sign papers or apply for redundancy payments. There may also be some things that you must NOT do e.g. disclosure certain things to other people etc. Ensure you know what’s what.
Consider short-term options
Consider any immediate financial commitments you may have (amounts & dates), incoming payments and payment dates.
If these align, then great! If not, what can you do in the short-term? e.g. arrange an overdraft or a short-term loan, liquidate assets, get a part-time / interim job etc.
Consider longer-term options
Think about whether you want to find another similar role or whether the redundancy is actually the catalyst you needed to take your career in a different direction or to start your own business.
You always have many more options than you believe. Take the opportunity to lift up your head and consider what you really want from life, as well as from your work.
Update your CV
Take stock of all your skills and work experience and update your CV. Many things you take for granted could be relevant to the future too, as skills are often much more transferrable than you may think.
Create or update your LinkedIn profile too. Whether you’re looking to find work or start a business, this could be a critical tool for you.
In an ideal world you’d already have a LinkedIn profile, but it’s never too late to create one and start connecting with people you’ve worked with, friends etc. It’s amazing how many connections you probably have!
Get to grips with the rules of the game
It may well be the case that you’ve not applied for a new job in a very long time. The rules of the game have changed considerably in recent years with much of the initial job searches, applications and selections happening online.
To get familiar with the latest job finding process, check out this guide.
Take a break
You may well want to consider taking a break. This may not be possible for financial reasons, or if you land the perfect role straight away. But you may well need one!
Having been made redundant, it could also be beneficial to take a little time off to consider your options before rushing headlong into something else.
Seek or accept help
If there is support of any kind available or on offer e.g. outplacement support, training, mentoring or coaching, then take it up – or at least look into it. It can be easier, advisable even, to access these sooner rather than later (for the biggest impact). They may also be limited to a finite period of time.
Accept any personal offers of support too!
Who do you know?
Ok, it’s not always true, but sometimes it is still a case of who you know (not what you know). Direct personal connections can be important, but so too are indirect connections. Your friends may not be looking to recruit, but their friends / colleagues / ex-colleagues may be, and there are many more of these.
LinkedIn is great for this as it shows pretty much everyone with an account (visibility settings permitting) and how they are related to you e.g. 1st connection (direct), 2nd and 3rd etc. It also shows people you may know in common, in order to be introduced.
Consider people you’ve worked well with before. Get in touch and update them on your situation. Who knows where these discussions could lead?!
While it may be tempting to hide away from the world when you’ve been made redundant, this isn’t a great option if you’re looking for a new position anytime soon. You need to make yourself visible (either online or offline) and get in front of as many decision makers as possible within your chosen field, to make a positive impression.
In most cases, redundancies (by definition) are not personal*. It’s the role that is no longer required, not you personally.
Try to think positively about the situation as this could affect how quickly you find another situation. “If you believe you can or believe you can’t, then you’re right” Henry Ford.
Maintaining a positive mindset will also help you to create the right impression around those you meet including recruitment agencies, prospective employers, customers etc.
* N.B. if you do have concerns around the terms of the redundancy / dismissal, consult ACAS for advice.
Redundancy can feel like the biggest kick in the teeth, in the moment. But hopefully, you’ll look back, in time, and see the positive side.
In summary, if you’ve been made redundant: stay positive, familiarise yourself with any requirements, decide where you’re heading, learn the rules of the game and get back out there!
Thanks for reading. Check out other Blue Diamond articles to help you take control of your work and life.