Redundancy:

Redundancy:

Redundancy:

You have just been told your services are no longer required and your position has been made redundant. Whether it is completely unexpected or you have been preparing yourself mentally, when you are finally told that your position is gone, even the most resilient of people find themselves in some degree of shock. In addition to experiencing normal feelings of rejection associated with such news, you will probably question what the future holds for you and how you will balance your ongoing financial commitments against the redundancy pay you have received. There is no need to hit the panic button if you are in no danger of an immediate financial collapse, but wisdom dictates that you consider taking some of the following steps:

Sort out your finances.

The first step is to take control of your finances. Within the first three days of being told your job is gone, it is best to contact a financial planner or accountant to ensure that your payout has been calculated correctly and that you understand the tax implications of your redundancy pay. A good financial planner will also work through with you how to manage your finances during your transition period. Resist any temptation to use redundancy payment to clear your home mortgage or spend on luxury items. Once finances are under control, you can move forward to find your next job.

Wait for the right timing.

Preparing yourself for the job market not only means working on the practical elements such as your resume or interviewing skills, it also means intellectually and emotionally dealing with your redundancy. In the early days following the redundancy announcement, it is best not to work the phones or contact your network of colleagues, peers and friends in search of a job. If you have been offered an outplacement programme by your employer, talk to your consultant, your spouse, a close friend or a family member, about what you are going through. Limit who you confide in to someone who supports you and with whom you can be open and honest. For your wider circle of contacts, let them know that you have moved on from your former employer and that you will be in touch once you have had a chance to take stock and plan your next move. By doing this, you will create the impression that you are in control of your situation, and that you value your career and experience sufficiently to plan the next step rather than desperately search for whatever you can get.

Plan your next move.

Corporate mergers, acquisitions, cost cutting , and market and economic factors often necessitate corporate restructuring. In dealing with your emotions, remember that it is your position that has been made redundant, not you. If you can take a big picture approach and put your retrenchment in perspective, you will be able to move forward in your job search more quickly and effectively than if you remain stuck dwelling on the past. In deciding your next move, listen to yourself and consider what you want to do. Take an audit of your skills anf achievements, and write down the kind of company you would like to work for and what motivates you. This will help you identify your next, realistic career move- whether it is re-employment, self-employment, full-time, part-time or contract work.

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