What To Do If You Fear Redundancy

What To Do If You Fear Redundancy

Steps to take on hearing you’ll be made redundant

Redundancy is unfortunately a far from uncommon event. Even in favourable economic times, companies may decide to make staff redundant if they are re-structuring, if an acquisition or merger takes place, if roles are to be moved to another part of the UK or the world, or if it decides certain roles can be automated.

Redundancy means that your employer feels a particular role is no longer required. It is important to realise that it is the role that has become redundant, rather than you as a person being made redundant, and that receiving a redundancy notice is not a reflection of your employer’s perception of your performance at work.

For most people whose role becomes redundant, the goal will be to secure a new role as soon as possible, preferably so that there is no gap in employment. It is recommended you take the following steps:

  • Examine internal re-deployment opportunities – as mentioned above, redundancy is not an indication your employer disapproves of your performance, so consider whether there are internal vacancies that suit your skills and experience
  • Find the right agency – get registered with a recruitment agency that specialises in the type of roles you are seeking, and stay in regular contact with your consultant
  • Talk to previous contacts – call people you have worked with in the past, and enquire if they have any opportunities at their current companies
  • Brush up your CV – ensure that those few pages of A4 paper show what you have to offer in the best possible light. Consider taking professional advice
  • Place your CV online – get your CV posted to several internet job boards and ensure your LinkedIn profile is up to date, and then hopefully employers and recruiters will notice your details and get in touch about suitable roles
  • Practise interviews – at the very least, start thinking about questions you might be asked in interviews, but again it is recommended you seek professional advice
  • Consider starting your own business – redundancy may provide an opportunity to go it alone. If you are part of a department or team where many others have been given notice, then it may be feasible to start a new enterprise together

At the same time as taking all possible steps to secure new employment, you should also plan for the worst case scenario. Work out what will be available from each of the following, and start thinking about how you can meet your essential bills if you are out of work for a period:

  • Redundancy pay payable under your contract of employment
  • Statutory redundancy pay
  • Allowances for unused annual leave
  • Any unemployment insurance or PPI policy you hold
  • Any state benefits you become entitled to

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