For most employees, the fear of redundancy sends anxiety surging through the body. When you are made redundant, it means that you are no longer required, and it can happen for various reasons. The company may be experiencing financial difficulties, so it needs to cut its headcount. It may be that they are relocating the business or that the role is no longer required as part of their structure. Redundancy doesn’t need to be a negative, though; it can give you a chance to find new opportunities. If you are being made redundant, you should be aware that you are entitled to statutory redundancy pay of one and a half week for every full year you have worked if you are 41 or older, one week for 22 and older but under 41, and half a week if under 22. We look at how to manage your way through a redundancy so it can be as stress-free as possible.
It’s Not Personal
When you hear, ‘We need to make you redundant,’ it can be almost impossible not to take it personally, especially if you are only one of a handful being made redundant. It is important to remember that redundancy is not personal to you; it is a decision based on business matters. For example, a company facing financial difficulties may eliminate some roles seen as overheads rather than roles that generate revenue.
Fresh Chance
Redundancy can be viewed in two ways-negatively or positively. While it's natural to feel concerned initially, as the future may seem uncertain, it's also an ideal time to embrace new opportunities and potentially make a career shift.
Time to Process
If it is financially possible, you should take time to process the redundancy. If you have been in the same job for a long time, this will significantly change your life. It is essential to have time in between to get your head around your new situation before you start to look for another job. If you are offered another job in the same company, determine if this is the right choice or if a complete change might be the best course of action.
Update Your CV
Prior to embarking on a job search, it's essential to ensure your CV is up to date and presents you in the best light possible. A professionally crafted CV can significantly increase your chances of securing an interview, opening doors to a variety of new opportunities.
At Inspired CVs, we provide professional CV writing services to our customers. We have helped hundreds of candidates secure new roles. If you want to learn more about our CV services, you can contact us or order your CV online today!
