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Unlocking Your Full Potential: Navigating Redundancy for a Brighter Career Future

Unlocking Your Full Potential: Navigating Redundancy for a Brighter Career Future

Posted on November 2023 By Stopgap Australia

How to process redundancy - tips

For many people, hearing the news that you are being made redundant can come as a shock. Redundancies can bring about stress, frustration, and anxiety, especially with the uncertainty of future job prospects. Whether you anticipate the news or it takes you completely by surprise, the step-by-step guide below can help you better prepare for what the future has in store.

1. Try to Get Enough Information as Possible
When receiving the news from your employer, many will struggle to grasp what is being said verbally, especially when the redundancy is a shock to the system. It's hard to take in information verbally when you are going through shock. If they are giving you information that is not printed, try to write it down so you can revisit it later with more time.

2. Understand Your Entitlements
Understanding your redundancy pay is crucial during this transitional period. The calculation can be complex, depending on factors like your tenure and age. To grasp your entitlements, review your employment contract, consult your HR department.

Additionally, consider any supplementary benefits, such as notice periods, unused leave payments and superannuation contributions. Having a clear understanding of your redundancy pay empowers you to make informed decisions and plan for a more secure future.

3. Don't Take the News Personally
During a redundancy, you may feel a range of emotions, with anger and frustration being particularly common. This is to be expected, as is any shock. However, it is good to understand the reasons your position was made redundant before acting out of emotion. The COVID-19 pandemic has brought about uncertainty for many businesses, especially financially, leaving many employers with no choice but to downsize teams, ultimately resulting in redundancies.

Remind yourself not to burn bridges, as your employer could be helpful when acting as a reference, and it demonstrates your sense of resilience and professionalism toward the situation. Shift your mindset and see it as a new opportunity for your career to grow.

4. Have a Positive Outlook
Without a doubt, news of a redundancy will affect your confidence and make you feel a variety of emotions. However, it's always best practice to remain calm and positive during this phase.

It is key to have a positive outlook after being made redundant. This will not only ignite the passion to find your next role but also strengthen your resilience and make you more productive in stepping into your next role. This is fundamental when seeking a new job; employers want to see that there is no resentment toward your previous employer and that you can bring a positive attitude despite hardships faced.

Finally, allow yourself time to process your emotions and turn to your close family and friends for support. Give yourself time during the job search process to reignite hobbies and interests. Take the chance to have a break, do whatever you need for your mental health to get you back on track for the next opportunity.

5. Reflect Before Jumping onto the Job Market
Being made redundant obviously has its downsides, but it is a good opportunity to give yourself that time to reflect on what you want to do next. This is the moment to reassess your skills, values, and career goals to seize the moment to determine what it is truly that you want to do next.

For some, this gives them the chance to choose a completely different career path. In which case, it is always best to research and build up your network within that particular industry. It could provide the momentum to 'pivot' to a new role, industry, or working environment—or pursue a career in a completely different field.

Meeting with a career coach can help you get an understanding of what a new industry or role may involve. It can also help ensure your expectations are aligned with reality and figure out if there are any other potential options available.

6. Partner with Recruitment Experts
Connect with recruiters who specialise in your area of expertise. Finding yourself unexpectedly back in the job market can feel overwhelming. These agencies offer more than just job listing - they can provide invaluable insights, interview coaching, and introduce you to relevant contacts. Many times, they are privy to unadvertised roles, giving you exclusive access to exciting opportunities. Want to create a compelling CV? Check out our downloadable guide here.

It is without a doubt that redundancy can be extremely tough to experience and go through. However, it is also a great opportunity to use the time to reflect and think about what's next in your career. Take the time to look after yourself, and once you're ready, jump back out onto the job market, whether it's in a similar role or something entirely different!