6 Ways to Cope When Facing Redundancy
November 6 2019 - Being made redundant is a stressful and emotional time and one which often catches people off guard. You may be content and fulfilled in your career and meeting all your employer's expectations (or even exceeding them), but you can still be blindsided by redundancy for reasons outside of your control. It's natural to feel anxiety, anger, denial, and panic as well as a dent in your confidence and self-esteem, but with the right attitude and careful planning, you can turn this bump in the road into an exciting new adventure. Here are six ways to cope when facing redundancy.
1. Understand your rights
Employers have to follow legal requirements before and during the redundancy process including telling you why you are being made redundant, when you will be made redundant (the notice period) and how any redundancy pay will be calculated. Seek out employment law advice from a solicitor to ensure your legal rights are being met.
2. Be smart with your money
When you know how much money you will be paid you should work out a budget for the foreseeable future. You don't know how long you will be searching for a new position and your money may need to support you for a while, so it's best to be conservative. Consider cutting back on expenses such as finding a cheaper utility provider. You may be entitled to Jobseeker's Allowance, Universal Credit or help with housing costs.
3. Remember that it's not personal
It's important to remember that redundancy is not a personal attack on you or even a reflection of your professional skills. In most cases, redundancies are necessitated by commercial business needs. Therefore, it can help to find out as much as you can about why you have been made redundant.
4. Lean on your loved ones for support
Redundancy can feel very isolating and often people can feel a sense of shame. Redundancy is not a reflection on you or your work so you should not hesitate to turn to friends and family for support and advice. It's particularly important to be open with a partner as you will need to communicate about finances as early as possible.
5. Take care of yourself physically and emotionally
While it's understandable that you would want to launch into searching for a new job straight away, try not to put yourself under too much pressure while you're still reeling from redundancy. Remember to take the time to relax and enjoy some of your time off. Try a new hobby or rediscover old interests. Get regular exercise, eat a balanced and nutritious diet and rest as much as you can. Practising mindfulness and breathing exercises can help to calm the mind and ease anxiety in times of stress.
6. Consider your career path and future goals
For many people, redundancy presents them with an opportunity to re-evaluate their career path and work out where their talents and skills would be best placed. You may be passionate about your current career or you may be ready for a new challenge or a better work-life balance. Talk to your family and friends or even a career adviser about your ideas and research any training or qualifications you will need to take the next step.