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Career Advice

How to Handle Redundancy

Marketing ManagerWhilst it may not be as prevalent as it was just a couple of years ago, redundancy is still an issue that is affecting people of all ages and in all regions. It’s never nice when it happens even if down the line it transpires to be have been a positive thing for one’s career. Sometimes redundancy comes out of the blue with very little advance warning, other times there can be some signs that it might happen – a drop in business sales, cancelled orders or even simply office gossip. Our basic tips on how to handle redundancy ought to help should this be on the horizon for you.

Get your finances in order

Knowing where you stand financially is crucial when redundancy is on the cards. Have a look at your current spending and all your outgoings. Then work out if you can make any immediate savings. Is it really necessary to pay for all those satellite channels? Could you move to a more economical mobile phone tariff? Still paying for a gym membership that you no longer use? It’s important to assess where you are at and make some changes where you can – it will all help in the long run. When you no longer have the security of a regular salary payment each month, you’ll be glad that you spent some time making cutbacks.

Update your CV

Getting your CV in order ought to be one of the first things that you do if you are facing potential redundancy. Your CV may be very out of date, especially if you have been with your most recent employer for quite a while. You should be getting ready to start your new job search as soon as possible, therefore having an up to date CV at your disposal is essential. Your employer may actually provide you with some assistance or support in creating your CV or with the entire job search process. If they do, take advantage of it – having that extra bit of support can be invaluable.

Get networking

Don’t wait until redundancy has happened before you start networking – it can have a huge and positive impact on your job search. Use all the options at your disposal – both online and offline. If you have a LinkedIn profile make sure that it is up to date and that you are making the right connections that could prove useful. Attend networking events and meetups if you can and engage with people who could potentially open doors for you. Be as proactive as you can and don’t wait until redundancy has happened before you do so.

Improve your employability

If redundancy happens, you might be one of the fortunate ones who ends up with employers knocking on their door – your skills and experience may be highly in demand and sought after. If this however is not the case, then you should spend some time working on improving your employability. Find out about courses that you can do or training programmes where you can upskill. By doing this you will be showing prospective employers that you are keen and willing to continue developing professionally and this in turn will help increase your employability.

We hope that by highlighting how to handle redundancy we help out any of you who may be unfortunately facing just that. Got any other tips? Why not share them via the comments section below.

 

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