Redundancy – a word we all dread and a reality we may face at some point in our career. No matter how hard you try to rationalise it, you arrive at the same question, “why me?” It’s not a matter of “if” but “when” the redundancy will hit you.
Let’s just say redundancy is a hard pill to swallow but believe it or not, it can be turned into a great opportunity. Here are 5 ways you can ease the process of redundancy:
Do the Calculations
Before anything, sort out your financial situation and assess your savings. Calculate how long you can go with a job in hand. Creating a deadline will keep you motivated. Next, create a budget and cut down on any unnecessary expenses. Now’s the time to embrace a frugal lifestyle. It is important to learn how to correctly invest your money during such uncertain times. Take time to smartly invest your redundancy package – this will provide you with good returns which can give you passive income over and above your new job.
Networking allows you to be more aware of the market. Reach out to influential and relevant contacts and simply let them know you’re in need of a job. Strengthen your social media connections and attend networking events. Even after you land a job, continue this habit of networking, save contacts and make a record of their emails for future reference.
Tip: Create a website for your resume, skills, and work experience. Create a link or a QR code which you can pass around easily during networking events.
Improve your Resume & Assess your Goals
If you’re actively looking for new employment, ensure your resume is up to date. It is the most important piece when it comes to applying for jobs. A total overhaul does sound time-consuming, however it’s a good time for you to see what you have to offer and add any relevant skills, experience, qualifications. While you’re at it, sort out your social media and LinkedIn profiles. Take this time as an opportunity to understand yourself, your interests, strengths and weaknesses.
Additionally, In the chaos of finding new roles, you can easily lose sight of what you really want. Take it slow, assess your goals, your future, and refine your habits.
Job Hunting & Exploring New Options
Consider this as a full-time job. You are already moving towards change so, make it a change you will relish rather than regret. In other words don’t make impulsive decisions. Think about what you want to do right now. Are you searching for a similar job you had before? Do you want to change direction and find a new career? Or Do you want to learn something new? Do your homework, understand the job role you want, the ups and downs of the role. Try reaching out to people in similar roles and see if the job suits your interests. However, don’t exhaust yourself out.
Tip: Set 4 mornings a week to search for jobs and set daily and weekly goals to investigate sectors, job type, connections. Take time to see if you’re a good fit.
Redundancy provides the perfect opportunity to upgrade and acquire new skills relevant to the market today. Now that you have more time at hand, expand your knowledge, sign up for courses, self-study. Moreover, now is the best time to explore an alternate career path. You have nothing to lose, take risks and explore options you wouldn’t have if you had a full-time job.
Redundancy gives you that opportunity to start over career-wise and land the job you truly desire. So, take the risk and hit that reset button!
However, be honest and realistic. Your ideal job might not be available at the moment so, be open. This will pull in more opportunities.
Stay Positive & Regain the Lost Sense of Control
Like it or not but work happens to be a huge part of our ‘sense of self’ and when taken away, it can be distressing. Remember, it’s not the end of the world and you are not alone. If you’re reading this article, know there are others researching it as well. So, take a breather and plan your next steps. Believe you have the resilience and ability to adapt.
Instead of wallowing in self-pity, take control of your destiny and get your life back on track. If your previous job burned you out, redundancy can be a great time to do some soul searching. Recharge your batteries by traveling, spending time with family and loved ones who boost your confidence. Try your hand at meditation, yoga, and start a workout routine to calm yourself and keep busy. This will help you to adopt a clear mindset.
Are you ready to turn your redundancy into an opportunity?
Redundancy is just a change and sometimes change is a good thing. Take care of yourself and be positive. The more proactive you are, the more opportunities you will draw to yourself.