Rebounding from Redundancy
Redundancy is a hot topic in the business news at present, as we are seeing an increase in job losses and companies restructuring. If you have received the bad news, you are not alone. Seek research shows 22% of people have faced their role being made redundant at some point. More recently, hundreds of jobs in the public sector and media industry have been announced – including 300 jobs at News Hub, 134 at the Ministry of Health, 68 at TVNZ and a whopping 384 roles at the Ministry for Primary Industries, have all been laid off.
Redundancy creates a significant impact practically, emotionally and mentally. For many, the initial wave of emotion that follows redundancy can be overwhelming, causing shock, anxiety and fear. It can throw you off track financially, leave you feeling disempowered, lost and create negative beliefs about your self-worth, competence and future. Being laid off is no doubt an extremely difficult life event but it is not all doom and gloom.
Like all negatives, there is a silver lining and being made redundant provides an opportunity for growth, self-discovery and can generate change for the better. The timing of it all can really make you reflect on what you want from your career and can create a segway to pursue something entirely different that you might not otherwise have considered.
Tips to assist you to rebound from your redundancy:
- Acknowledging Emotions - it is important to take some time to grieve the situation. For many, redundancy is an unexpected, forced change and that needs to be acknowledged and processed.
- Challenge unhelpful and limiting beliefs - during this situation, it is very normal for our inner-critic to get in our head and consume it with negative and stressful thoughts. For example, why have they done this to me? What if I don’t get another job? How am I going to pay the mortgage? How will I tell my family? It can be useful to actually analyse these thoughts and burning questions running through your mind. Answering these scenarios actually helps you process the change logically and is useful for problem-solving moving forward.
- Ask for help - as soon as you become aware of the redundancy, it is recommended you reach out for assistance and make use of the appropriate resources available to you. For example, this might be for some guidance or direction from your manager or a colleague at work, Ministry of Social Development have support options available, EAP (Employee Assistance Programme) or counselling, seek a career coach etc. Utilising these support networks will help make you feel more empowered and in control of the situation.
- Make a redundancy plan - planning is key to help boost your spirits if you are feeling deflated and will help provide a road map to help get your career back on track. This plan may include a variety of different options such as attending networking events, voicing you are in the job market to friends and family, updating your CV and LinkedIn profile, preparing for future interviews by identifying core strengths and skills that could transfer across to different roles and reassessing your finances/budget.
- Maintain a positive mindset - having a positive mindset is key to commencing your next career step and making the best out of the situation. This will strengthen your resilience and capability to move on, and increase your productivity levels - allowing you to build stronger self-confidence and releasing your best self. Demonstrating your ability to let go of any resentment can bring out your positive attitude and energy which prospective employers may be looking for when hiring. There are many ways to maintain a positive mindset, look after your mental health and give yourself some much needed self-care. You could meditate, keep active, make time for the things you love doing and do things that help you relax your mind. Everyone has different coping mechanisms, so it is important to focus on what makes you feel comfortable and do what works best for you.
- Coaching - coaching is a really useful way to overcome challenges following redundancy and is a great way to boost your confidence in order to regain control of your career. Coaching not only equips individuals with the practical skills to move forward e.g. CV updating, interview upskilling, but it also provides an opportunity to challenge any self-limiting beliefs that you may be holding onto and explore what you are truly passionate about.
- Lean on others in the same boat - when companies are restructuring it is common for more than one position to be made redundant at the same time, therefore more often than not, you are not alone. Often the best support can be from your colleagues who are also going through the same process. Pull together and support one another, check in to see how each other is feeling and create a safe space to vent.
- Don’t take it personally - a major part of the redundancy process is trying to understand why you were made redundant in the first place. It is key to point out that redundancy is related to the position being made redundant or obsolete, not based on an employee’s performance. Therefore, when you put things into perspective and comprehend the reasons behind the redundancy process this should help you understand that it was due to external factors rather than you personally.
- Consider temporary work - a temporary contract can be a great option after being made redundant, whilst you are looking for your next career step. Temping can buy you some breathing space/time, it gives you an opportunity to earn some money, it offers structure to your week and keeps you busy, motivated and socially connected to others.
- Reflection - facing redundancy can present you with the opportunity to reassess your skills, values, career goals and how you manage your work/life balance. Think about what you loved and loathed about your last position, so you can move forward with a clear vision of what you do and don’t want your next job to look like.
- Find opportunities to upskill - you may like to consider exploring training opportunities to strengthen gaps in your skill set or help you transition you into a new industry/sector.
- Engage with a recruiter - being back on the job market after being employed in a position for quite some time can be daunting. Especially when you are dealing with the uncertainty and rollercoaster of emotions that redundancy can bring. Connecting with a recruiter can make this process much smoother. If you have recently been made redundant and are seeking support for you next step, contact Talent ID Recruitment today.
- We provide advice and feedback around your CV, Cover Letter and support you with interview techniques. We can also offer you invaluable market insights and assist you with applying for roles which aren’t even being advertised.
Approach your redundancy with resilience, adaptability, and a proactive mindset, so you can rebound and build a fulfilling career path moving forward.
Talent ID is a specialist Recruitment & Human Resource consultancy, covering the Bay of Plenty, Waikato and Hawke's Bay regions. Phone 0800 850 080 or email recruit@talentid.co.nz.
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