How To Manage Redundancy

by | 28.03.24

Coping with redundancy can be incredibly difficult. But it’s important to remember that whether you’re feeling sad, shocked, angry, frustrated or something else entirely your feelings are completely valid. There’s also no right way to cope with the situation. However there are a few considered steps that you can take to help you move forward, here are some tips to help you navigate this unsettling time.

Take time to come to terms with the situation

Perhaps you didn’t see your redundancy coming, or maybe you suspected it would happen but you still have been left reeling by the fact that it’s now a reality. Whatever your situation, if you’re in a state of shock, it’s important to give yourself some time to come to terms with the situation.

Try not to panic

It’s completely normal to experience shock at losing your job. But try not to let your feelings of panic take over. Panicking affects our ability to think clearly and plan forward and can make a situation feel worse. If you’re finding it difficult not to panic try doing activities that will help you feel calmer.

Consider negotiating with your employer

When your employer approaches you to inform you about your redundancy consider whether bargaining with them could make the process easier for you. For example perhaps you could ask for some extra financial support towards a course that will help you retrain for a new profession or for an extra month’s pay to keep you afloat.

Know your rights

Navigating the redundancy process can feel much more manageable if you know your rights. It’s a good idea to get hold of a copy of your employer’s redundancy policy and check over your employment contract to confirm that the agreed exit terms are being followed.

Don’t take it personally

Just as you might be finding it difficult to accept your redundancy, it can also be incredibly difficult for employers and Managers to make these decisions and to let people go. It’s normal to feel angry about the situation and to feel hurt that you’ve put time and effort into a Company that’s now asking you to leave. Try your best not to take it personally as this can affect your confidence and in turn impact on your job search.

Plan your finances

One of the first things that will probably run through your mind if you’ve been made redundant is how you will continue to support yourself financially. Financial hardship is one of the biggest stresses we face in life. Therefore it’s important to understand what help and support might be available for you so you can make a plan.

Calculate your redundancy pay

The first thing to establish is how much redundancy pay you will be entitled to so you can plan for the future. There are two simple tests you can use to check whether you are entitled to redundancy pay. 1) You need to be classified as an employee, in other words your employer must be paying you on a PAYE basis. 2) You need to have worked for your employer continuously for over two years. The amount you will receive will depend on your employment contract, your age and the length of time you have worked for your current employer.

Consider what you want to do next

While it can be difficult to come to terms with your redundancy once you’ve got over the initial shock it can be helpful to start thinking ahead and preparing to find your next opportunity. This part can be daunting but it can be also exciting. In time many people see it as a chance to open up a new and interesting life chapter. As the saying goes, when one door closes – another one opens.

Focus on enhancing your employability

One of the best ways that you can prepare yourself for finding your next opportunity is to focus on creating a strong CV and building up as many relevant skills as you can so that you can help yourself to stand out from the crowd.

Ask for support if you need it

Losing a job or a career that you loved can be incredibly painful to deal with. While it’s important to take practical steps, such as planning your finances and looking for new opportunities, it’s equally important to reach out for help if you need it. This might mean reaching out to friends and family members asking for support. You can also contact the Samaritans or other support organisations if you need somewhere to turn to quickly. You don’t have to struggle by yourself.

Just as a final thought when you experience something as life-changing as redundancy you might feel anxious about the future and wonder where to turn next, but remember that no matter how dark your days might seem now, things can change for the better and there’s always hope on the horizon. In the meantime be kind to yourself and remember to ask for help if you need it.

Good Luck

Angela Burton