Bouncing back from redundancy
Personal development / 01 May 2009
Losing your job not only puts a dent in your wallet, it knocks your confidence too. But with the right guidance and a positive approach, you can use redundancy to renew your career. Karen Higginbottom picked the experts’ brains for the best advice
As unemployment soars to its highest level since 1997, more and more UK workers are facing the prospect of redundancy. Losing your job is undoubtedly a stressful and daunting experience, fraught with economic and emotional uncertainty.
But, once the shock has subsided, redundancy can offer the chance to take stock, assess your situation, and even provide a catalyst for a life-changing career move. Our top tips will help you survive and even thrive if it happens to you.
01: Go through the grieving process
Losing a job is an experience of rejection, even if it’s happening to lots of others too, says Cary Cooper, professor of organisational psychology and health at Lancaster University Management School. ‘People go through a grieving process, and you have to acknowledge that, but it’s important to stay positive. Remember, it’s the job that has been made redundant, not you.’
02: Sort out your finances
As soon as you’re made redundant, take 48 hours to sit down and assess your financial position, advises Steve Thompson-Martyn, business development director at career management consultancy CMC.
It might be worth checking your insurance policy, says Tom Potbury, employment specialist for lawyers Pinsent Masons. ‘Some people have insurance that pays out in the event of being made redundant. They may not be aware they have this,’ he says.
03: Don’t panic
Whatever you do, don’t panic, advises Helen Whitten, managing director of Positiveworks, a coaching and personal development consultancy. ‘Take some time – a week or so – to rest. There is a shock factor to being made redundant. You don’t want to get into a state of fear.’
04: Think positive
The worst thing you can do is be pessimistic about your chances of employment, says Robert Sharrock, managing director of business psychologists YSC. ‘If your mind becomes pessimistic, then creativity is inevitably constrained. People [need to] build a positive mindset and recognise that it may take a few rolls of the dice to get two sixes. You need to recognise the train of your thoughts, and what you say to yourself is crucial.’
05: Reflect on what you really want
There is an inevitable period of shock and anxiety when you’re made redundant, says Sharrock.
‘Use this time to take stock, think about what has happened, look ahead and figure out what you really want,’ he suggests. ‘Is it an opportunity to spend more time on a passion outside work? Do you still have the appetite for a 14-hour city existence? Do you want to entertain the possibility of a shift in career?’
He advises redundant workers to look at their values and figure out what their strengths are. ‘Think about broad options for the future without narrowing it down.’
A period of reflection is vital when you’re first made redundant, agrees Olwyn Burgess, client services director for human resources consultancy Chiumento.
‘A normal reaction is that someone may apply for a job at low pay or one that they are completely unsuited to. What people need is the time and space to think that through and not to hop from one thing to another in a panic.’
‘You should decide what is the most important factor in your next move: whether it’s financial, geographical or the nature of the job,’ advises Thompson-Martyn. ‘Then focus the job search on that.’
06: Keep fit and structure your day
It’s essential to maintain energy levels and motivation during your job search, says Nicola Deas, practice leader for career transition in UK and Ireland at employment consultants Right Management. ‘You need to remain focused and keep pursuing opportunities.
You are in control of this. Continue to exercise: gym membership, walking or running groups, swimming – but preferably activities that mean you are interacting with others. Don’t lock yourself away on your own.’
Keep some structure to your day while job-hunting, advises Bev White, managing director of Penna Career transitions. ‘Don’t fall into the daytime TV trap. Go into your home office and plan out your day to search for those jobs. Also, keeping yourself healthy and fit will put you in a good position to have the confidence to go for jobs.’
07: Network
You’re far more likely to find a job if you’ve got a good network, says Burgess, but don’t be too gung-ho about it. ‘There are rules to networking,’ she warns. ‘You’ve got to know what you are approaching the contact for. It’s not just about getting another job: it’s also about researching the market and finding out who you know who would be good to talk to. You have to develop your own style.’
It may be worthwhile networking with other redundant employees to support each other, suggests White. ‘It’s helpful for people going through a job search to help each other and share successes so you hear the good news. That is important.’
Networking can be misused, however, warns Sharrock. ‘You’ve got to create a sound business rationale for using networking. It’s got to be quite strategic.’
08: Consider volunteering or retraining
If you’re thinking of changing careers, voluntary work can be useful, says Burgess. ‘It’s sometimes hard to get and depends on your personal circumstances and whether you have the time, but it’s good to get a foot in the door. If it’s going to be part of your plan of where you want to go, it’s useful.’
Volunteering can be advantageous if you can afford the time, says White. ‘You can apply your skills, help an organisation and present that to a future employer.’
Financial circumstances permitting, redundancy can also be an opportunity to retrain, says Cooper. ‘Most people think they’ll go straight into another job, but [you should] assume that it will take a while. Stay active by doing some additional training.’
09: Prepare for interviews
Despite the increasingly competitive job market, most jobseekers are poorly prepared and have not done enough research, according to a study by recruitment company Hays. In its survey, only 14% of employers felt job candidates were much better prepared than they were before the recession began, and only four per cent of job-hunters made full use of all sources of information, including annual reports and industry contacts.
Make sure that you prepare for your job interviews thoroughly, advises Deas. ‘On average, people spend up to 10 hours securing an interview and less than one hour preparing for the interview itself. Think about the questions that you will be asked and practise your answers.’
10: Do your homework on a job offer
Fully research any job offer before accepting it, advises Thompson-Martyn. ‘Make sure that the offer matches your needs. Don’t be so grateful that you take anything that comes along. And don’t forget to check that the company is financially robust.’