How to decide between the Outplacement support or the money

The news is, redundancies are on the rise.

Being made redundant is a stressful and unpleasant experience; it's not a goal we typically enter the workforce aspiring to achieve.? The reality is redundancies happen.

In January this year, The World Bank reported that the global economy is set for its weakest half-decade performance in 30 years. Of course, several factors have contributed to this gloomy outlook, and the impacts are hitting many sectors and companies hard.

Sadly, what we perceive as negative things in life happen to people all the time. Time and time again, I have seen people reinventing themselves after being made redundant. Personally, I look at redundancy as an opportunity to reset our job and career aspirations. If you have been following me on LinkedIn for a while, you'll know I'm a firm believer in career currency and each position setting us up for the next role and so on.

Many people I've encountered dream of starting their own business or pivoting careers but are too comfortable in their current roles to take the leap. For others, redundancy presents them with the opportunity to chase what they've been yearning to do for years, because they finally feel like they have nothing to lose.

Should you take the money or accept career transition/outplacement support?

Take the program and support. Then work it for you!? Everyone's life circumstances are different, and I acknowledge some people are living from pay cheque to pay cheque. It's also worth noting that not all companies offer any kind of career transition/outplacement support….and if they don’t, then you must ask for it.?

We must invest in our career

We all understand that we must water and tend to our gardens if we want them to flourish. Our careers are no different. Far too many people allow their careers to tick along until a shock, like redundancy happens, and then they panic because they are completely blind-sighted and unprepared and change hurts.? We start to doubt ourselves and the list goes on.

How often are you investing in your career? While I understand that the financial package offered when made redundant in lieu of a program might be tempting in the short term, the money will run out. And then what?

The benefits of career transition/outplacement support

Of course, all career transition/outplacement support differs but typically speaking, such programs focus on supporting you in the short and medium term......navigating the options, planning, motivation, updating your resume, creating a LI profile for job search, networking, applications, salary negotiations, onboarding and the list goes on. You have us working for you! As I always say, we must think not only about where you are now but where you want to be in two, three and five years too.

What we know is that redundancies are becoming more common. On LinkedIn, I've seen several people being made redundant in consecutive roles. Instead of immediately taking the first offer that presents itself and filling someone else's temporary gap, redundancy presents you with the perfect opportunity to stop, think and reflect on what you truly want for YOURSELF.

Change is inevitable

Today's workforce looks nothing like when I landed my first job. Resumes; cover letters; selection criteria; navigating LinkedIn for job search; networking; branding; salary negotiations; onboarding; and more. Everything is changing rapidly, and it's easy to feel overwhelmed. Give yourself time to catch your breath and reflect.

I suggest taking one step at a time. Put a plan together and figure out how to execute the plan. Figuring out your next best step isn't something you have to do alone; people such as me and the team at OnTalent are here to help. Having worked with blue, white, green and new collar workers (and whatever other word you'd like to add before 'collar') departing workforces for over 20 years, we understand the impact losing a job can have beyond finances. Our confidence, brand and relationship with friends and family can all take a hit too.

As experts in our field, we have a genuine desire to support you in meeting your career goals. Draw on our knowledge and expertise to make your experience better. Learn more about how we can help via our website . Our team works predominantly in the Australian market, so we know the market incredibly well! Reach out for a confidential discussion today.

Deborah Wilson is a Thought Leader and a Career Strategist. She takes a personalised approach to strategic career coaching and career transitions, mentoring and leadership development. Deborah provides expert guidance for individuals while supporting organisations through change and connecting people and purpose. Call Deborah on +61 403 779 746. www.ontalent.com.au

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