How to bounce back strong after redundancy
You’ve recently been made redundant and you’re in the club of the unemployed. Surrounded by a cloud of uncertainty in the jobs market, one can easily say that your job and your career is always going to be in a state of ambiguity and one round of layoffs could leave you at the mercy of market forces.
A job loss is hard – it can pull your self-esteem down and can put you in a serious financial dilemma. You know that you are supposed to get back on your feet by searching for jobs. But what else can you do? Often it’s a matter of self-confidence - so how do you keep motivated?
Here are five ways to bounce back if you’ve been a recent victim of redundancy.
Don’t take it personally
Unlike being fired, which can get personal at times, redundancy is about the organisation cutting a role or a position. You should know that this is a game of numbers and it should not be mistaken with you being fired for incompetence.
Companies often do it because they need to cut costs or restructure the business and that’s a process driven by an economic or financial need, not because you didn’t fit. Recognising this will be a first important step in helping you to let go and move on.
Negotiate a compensation package
In most cases, when you're let go you will be offered a severance package. While you should have negotiated that package right when you were hired, (because that is when you have the most bargaining power) you can still try to negotiate a better package at the time you are terminated.
Invest in career counselling
Although now may not seem like the time to spend money and you must plan your finances, but there are some investments worth considering. While most people would try to rush back into the game and find a new job, it might also be a good idea to take a step back and make sure your career is heading in the right direction. Choosing a good career counsellor can help you to look at the bigger picture.
Don’t disregard the thought of switching careers entirely. Maybe your skill sets can be very useful in a different industry or new position. Maybe all you need is someone to help you figure out the details.
Activate your network
Perhaps you've been a bit lazy and haven't been in touch with your ex-colleagues or professional connections. Now is the time to recharge and reactivate your network. It's easier to say hello now than it is to call someone to ask for a job or some leads, especially when you haven't spoken to the person in months.
Networking is not only good to make new connections, but it also helps to improve your interpersonal skills, which are crucially important for job interviews.
Taking up a temporary role to keep some money coming in and staying active in the industry is never a bad option. It keeps you abreast of trends and also ensures you don’t miss out on potential full-time roles. That aside, if you have one or more temporary assignments, they will help you populate your calendar with professional meetings and networking events, which is key at this juncture of your career.