Want to know the steps to overcome redundancy?
Experiencing redundancy can be a daunting time, leaving you uncertain about your next steps.
According to research conducted by SEEK, 28% of individuals have faced redundancy at some point in their careers. The initial response to redundancy often involves a flood of overwhelming emotions such as shock, anxiety, and fear. This is typically followed by a loss of confidence and a sense of identity.
However, redundancy can also present an opportunity to reassess your situation, consider your true aspirations, and even venture into new territory.
Here are some tips on how to handle the aftermath of redundancy and take positive steps forward.
Assess your financial situation.
The fear associated with redundancy often stems from uncertainty about when the next pay check will arrive. Creating a detailed budget and exploring potential support payments through Services Australia can provide clarity and peace of mind.
Temporary work.
While some people may transition directly from one job to another, others may benefit from temporary work, such as short-term contracts. Temporary employment can offer breathing space and provide structure to your routine, helping you stay motivated during the job search.
To see what potential short term contract we may have available at Silverstone, click here.
Reflect on your past role.
Take the time to evaluate the aspects you enjoyed and disliked about your previous position. This self-reflection will provide a clear vision of what you desire and what you want to avoid in your next job. Consider reviewing your industry or making a sideways shift to a more future-proof position.
Explore a career change.
If you were dissatisfied with your previous work, redundancy can serve as a catalyst for a career reassessment. It may be an opportunity to pivot to a new role, industry, or working environment, or even venture into an entirely different field. Consulting a career coach can help you understand the potential challenges and opportunities of a new path.
Upskill yourself.
Seek out training opportunities to enhance your skill set or transition to a different field. There are numerous online and short courses available across various industries. Make sure to select reputable training providers that offer recognized certifications.
Maintain connections.
Staying connected and engaged within a community is crucial during a career transition. Redundancy can be emotionally challenging, and isolation can have a negative impact on mental health. Set aside time each week to connect with individuals who uplift your spirits and can provide insights into career opportunities.
Prepare for interviews.
Redundancies have become increasingly common, and it’s important to reframe how you discuss your experience in future interviews. Remember that redundancy is typically a result of organisational changes and not a reflection of your performance. Practice articulating your redundancy within this context to alleviate any concerns about underperformance.
It is worth noting that 93% of employers either did not consider a candidate’s redundancy in their hiring decision or viewed it positively.
While redundancy can be challenging, it also offers a chance to explore new career possibilities that may not have been considered otherwise. Take care of yourself during this period and, when you’re ready, direct your energy towards pursuing your desired path, whether it involves similar work or an entirely fresh start.