There have been some major shake-ups in the business world as of late. Last week, the world watch on as employees from Thomas Cook lost their jobs, while earlier today, Forever 21 filed for bankruptcy.
Most of us imagine a future where we have job that provides a steady salary and a level of security that means we’ll never have to go without the necessities in life – somewhere to live, food, clothes to wear – but unfortunately there are never any guarantees.
If you’ve recently been made redundant or are concerned that the business you work for may soon close its doors for good, don’t panic.
Each person’s situation is different – perhaps you are worried that your skills aren’t transferable, maybe you work in a notoriously competitive industry or are concerned about not being able to feed your family.
All of these are valid concerns, but the most important thing to do when you find out that you no longer have a job is to take a breath before you make a plan to tackle the problem.
‘Panicking always leads to rushed and bad decisions,’ Karen Kwong, business coach and founder of RenOC, tells Metro.co.uk.
‘Always. And bad decisions means rushing into a job you don’t want and that is wrong for you. Panicking means doing things like being unfocused in your search, being incoherent in interviews and underperforming in tests and assessments.’
Redundancy is not always done in bulk, meaning it could affect just a few people or even just one (in this case, you), which can be more difficult to come to terms with. After all, if you’re the only one who was let go, the camaraderie that can help in these situations doesn’t exist.
‘It can be easy to shut yourself away and take it personally, but it’s vital you protect yourself from the feeling of “why me?” – not only is it a motivation-killer, but you’ll start believing those negative voices in your head,’ James Taylor, CEO at Macildowie, an East Midlands recruitment firm, tells Metro.co.uk.
Instead of focusing on the negative, make a list of everything you’re great at.
‘Most roles today require a certain level of entry’ skills, but depending on your previous role, you might have a unique and specialised offering that sets you apart from the competition,’ James added.
‘Even the most “basic” of skills, such as multi-tasking, teamwork and patience, can set you in good stead for a future career, so don’t discount these.’
Once you know where you shine strongest, it’s time to get started with the search – and first on the agenda is updating your CV and social media channels, Karen tells us.
Add skills that you acquired in your new job, projects you’ve worked on, clients of note (if any), qualifications and training courses, like the two-hour course on internal communication that you did at the company years ago.
Karen said: ‘Think about what you really want – job role, salary, culture, home life, learning opportunities – do you want more of the same or something different? Is this an opportunity to re-train or do further education?
‘Register with recruitment agencies to help them find you a new job from their clients. Upload your CV to job websites e.g. CV Library.’
‘Be proactive in your job searches – contact direct competitors of your previous company. Seek local job support advice or outplacement companies, as well as talk with your professional and personal network to identify job opportunities within the area.
‘Keep positive – apply for jobs daily and include cover letters in your applications; highlighting your interest and suitable experience for the job you are applying for.’
While you look for a job, make a budget for yourself and cut expenses where you can. If money is tight and you need a job, any job, and soon, it’s understandable that you might not have a lot of time to search for your dream job.
If you do end up accepting a new role out of pure necessity, continue your search at the same time; something better – with more money, freedom or possibilities to grow – might turn up just a few months later.
Don’t be afraid to put pressure on your employer, too.
‘A responsible employer doesn’t just let their employees go when they become redundant – they help them find new roles that their skills will match,’ said Jordan Bishop, vice president of human resources at Yore Oyster.
‘For example, last year we had to let someone go because more than 80% of their role had been taken over by a piece of software. But knowing that not everyone had that piece of software, we reached out to a few of our industry partners and were able to help that employee find a similar role with one of them.’
Additionally, look up your employment rights and give your contract another read to make sure you get what is owed to you.
Being made redundant could open other doors, especially if you received a decent pay packet. Perhaps this is the time to finish the book you’ve been working on for years but never have time to finish or maybe you could take a chance on a new industry.
If you have the luxury of spending a little time considering your options, then do.
Looking for a job or undertaking a project that excites you, rather than accepting the first thing that’s offered so that you have money coming in, might well benefit you in the long-run.
This moment could also be a grand opportunity to start your own business. If there isn’t a job out there that you want and you have the capital, time and passion, why not create one for yourself?
Vivi Friedgut was made redundant a few years ago and decided to launch Black Bullion, a company that partners with universities to supply students with free financial education and advice.
‘At the time it was a massive shock, but within a few days I realised this was an opportunity to create a new path going forward,’ she tells Metro.co.uk.
‘I’d always wanted to start my own business and this was the kick I needed to try.
‘The first thing I did was work out how much money I had and how long it needed to last – the circumstances of my redundancy meant I got a decent payout, so by cutting out all unnecessary spending I could last a year before I needed to get a job.
‘I also made sure to make a habit of waking up and getting dressed properly rather than lounge around in trackies.
‘Being out of routine is the most corrosive thing – you’re used to knowing what you need to do when and suddenly your time is your own. Getting out and meeting people is important for your mental health and working out of coffee shops meant that I met a few others in the same situation.
‘Redundancy seemed like the end of the world but truth be told, it’s the best thing that ever happened to me.’
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