Key Steps To Take When You Are Made Redundant

Being made redundant can be incredibly frustrating, upsetting, and worrying. You will be losing your job but through no control of your own – while this can make it easier to secure a new job, it still is a major disruption in your life and leads to an uncertain future. It is easy to panic in this situation, but it is important that you know how to act so that you can get the most out of your redundancy and put yourself in a position to secure a new job sooner rather than later. Here are a few tips which should help you to cope during this challenging time.

Try Not To Take It Personally

When you are being made redundant, it is very easy to get upset and to take it personally. You must remember that it is not personal, but instead, it is a circumstantial decision that has been made by the business. You do not want to burn bridges when you leave because you will want a good reference and you may be able to benefit from a recommendation or networking through the company.

Find Legal Support

Next, you should find legal support in the form of settlement agreement solicitors. You will be offered a settlement agreement (a legally binding agreement) which outlines what you will get out of the redundancy. Your lawyer will be able to go through this with you to determine whether or not it is fair, if you can negotiate better terms and if you need to make an employment tribunal claim.

Get Your Finances In Order

Although you will be offered a settlement and you may be entitled to benefits while you search for a job, it is also a good idea to get your finances in order and tighten the purse strings to manage through this challenging period. Create a budget which cuts back on unnecessary spending for now just so that you can tide yourself over until you find a new job.

Use Your Network

It can be daunting to enter the job market again particularly if you have been employed for a number of years. You are likely to have developed a professional network in this time, so do not shy away from reaching out to see if there are any opportunities available.

Do Not Rush Into A New Role

When you are out of work, it is easy to take the first job that is offered to you, but you do not want to rush into a position if it is not right for you (it will not look good on your resume to quit after a short period too). Instead, take your time and weigh up your options – you may even want to earn a qualification, work as self-employed or take some time off.

Hopefully the information in this post will help you to manage during this challenging time. Being made redundant will always be an upsetting, stressful, and worrying time, but when you know how to act and get the most out of your redundancy it can make it much easier to manage.