Redundancy guide: 10 steps to make sense of what to do next.

Introduction

Being made redundant is almost always a shit situation and leaves most of us in a very challenging and scary situation that we are not prepared for, so let this newsletter be a guide to for those who are going through it now and for those who think it'll never happen to them. Because the chances are it will happen to you, 1 in 2.5 people have been made redundant in their careers and that number is only going up due to the financing/ structure of organisations and the industries they rely on.

I also want to say that I feel your pain and I am sorry that you are in this situation. I have been there myself not that long ago. I have felt lost, also having my confidence knocked and worrying about finances. So I write this having relevant experience dealing with it and helping a number of my clients through it.

I have written this as a thorough guide for those who need some clear easy instructions to follow, everyone else just pick and choose the relevant advice for you.

Redundancy: It's not personal (usually)

Reminding yourself that the decision to let you go is not personal is very important, because once you start feeling sorry for yourself and thinking about all the things how you could have done things differently etc etc then the harder it'll be for you to pull yourself out of it.

The biggest costs to any businesses are salaries. Almost all companies have investors who expect a return on their investment and with every increasing running costs to all companies and industries when finance teams look at cost cutting to meet these demands the easiest cost save is a person or persons salary. This is very short sited by businesses for a number of reasons but investors come first unfortunately as without them there would be no business to start with.

Big tech companies or well invested businesses use redundancies like we have weather seasons, when things are going well you hire as much as possible and try to expand the business with new product lines etc but when things slow down it is a good opportunity to let go of those are not seen as the future of the business and any roles or departments which were not as profitable or useful as expected. Again not personal.

Financial security and those without

Around 50% of people who are made redundant do not qualify for a redundancy package due to not being in their business for 2 years. Then even lots of people who have been with businesses for longer than 2 years cannot claim anything because their company have gone into liquidation. So if you are someone who lives pay cheque to pay cheque and does not have a rainy day fund I feel for you, let's schedule a call asap to put the tips in this newsletter to action.

Those of you who have been given a fair and/ or generous redundancy package or are fortunate or prepared enough to have funds available to last you a few months and beyond, count your blessings. Now is a prime opportunity for you to take your time to build your personal brand, network and create the right opportunity out there in the market, let's schedule a call to discuss this.

Those reading this who have not been made redundant yet

You should be networking ALL the time, not just when you are looking for a job. Your network is your net-worth. Build your network, reputation all the time, everyday.

And for all readers I would highly recommend setting out time to read one of my previous articles here: https://www.dhirubhai.net/pulse/networking-building-your-personal-brand-dan-oates-ryfke/?trackingId=IT2DPpcDRjS4%2BhE1ewDHtg%3D%3D

Focussed on Networking & building your personal brand; these skills should give you the best opportunity to minimise the amount of time you are looking for a job and make you a better overall employee and confident person.

Your guide to turn your situation into opportunity:

Try your best to take these steps in the order below, obviously skip the ones you have already completed but to maximise effectiveness and to not miss out on key stages to give you the best opportunity to secure an exciting and relevant next opportunity for yourself.

Step 1: Thinking space

From the moment you find out that you have been made redundant I would recommend a few days away from social media, that includes LinkedIn. You have just received some pretty huge news, take time to digest it around people you love and who care for you. Take it a step further and remove yourself from your normal day to day life, go visit someone or do some healthy things like fitness / walks etc.

You are likely to be experiencing strong emotions during the first few days and are in a vulnerable head space and your actions are likely to reflect this. The things you say to people, your tone, the decisions you make and your general outlook towards finding something new.

Take a few days and follow these steps.

Step 2: Reflect

Ok now you have had a few days to distance yourself from the situation, how do you feel? Do you need more time? (it is absolutely fine if you do, it affects people differently). With a clear head, ask yourself what do you actually want to do next.. Is it the exact same thing somewhere else? Is it just anything that makes you money? Is this an opportunity to pivot and do something else?

Step 3: Structure & routine

Continue to do the things you love doing, do them more if you have the chance. Eat healthily and organise your day so that it has routine.

Get up early, go on morning walks and do positive things throughout the day which make you feel good and give you direction. Otherwise it will be very challenging to achieve anything feeling sluggish and down.

You will be more productive and be in a better head space for when you need it (interview, applications etc).

Step 4: Who/ what do you have available to you right now?

Once you have reflected on what you want to do next, now is to look at what resources you have available to you and who you know..

Ok so sometimes companies provide coaches to those people they have made redundant, they are specifically there to help you through this difficult time and provide useful tools to get yourself back into work. I am not convinced they have the most useful networking and LinkedIn knowledge but worth using whilst it is available.

Look at your friends/ family & network to see who can help you, often we forget who we know and how they can help.. Let them help you, swallow your pride.

Step 5: Finances

Really important one this as it has a huge influence on your options and how fast you need to find something.. So bare with if it seems like a maths test but I have been in this situation myself and would have loved some clear advice broken down into the important stages to consider.

• Look at your outgoings, including food and a buffer for your social life.. How much does that come to per month/ week?
• Can you reduce any of those, like do you need Netflix right now for example?
• Once you know your monthly outgoings you now have a target to aim for as a minimum whilst you are looking for a job. You may have been surprised with how low this number is.. (could you take a lower role in a profession you actually want to do for example?)
• There are lots of ways of earning money quickly, follow this link to see a post I did listing all the options I know about: https://www.dhirubhai.net/posts/danoatesbff_need-to-make-some-cash-and-fast-i-have-activity-7138466670796337152-wyvA?utm_source=share&utm_medium=member_desktop
• Try to find something in the short term that is flexible allowing you to attend interviews and give time to your job search

Step 6: Revisit your CV and LinkedIn profile

Are you happy with how both of these reflect your experience and skillset for the path that you are looking to go down?!

Reach out to me if you are not sure where to start with your CV & LinkedIn profile, because done right can really elevate your search.

Step 7: Networking and being seen

For more detailed tips on this I dedicated an earlier edition of this newsletter so go check that out, but see below for an overview.

We are in a weird job market right now, there are more people looking than there are job openings, 1000s of people are applying for each job and jobseekers are not looking at there search strategically. This is where networking and personal branding comes in.

Networking and being seen is about the basics, what people did before social media and job boards. We are kinda lucky that there is a platform like LinkedIn where you can do old school networking on your laptop, bare with me. LinkedIn allows you to research and connect with people you do not know, similar to attending events and yellow pages used to be, but its way easier now (which might be the problem).

So my suggestions are to tactically workout the businesses you admire and then the right people in those companies and connect with them. Send them a warm message or don't message at all. Engage with their content, post your own content around the narrative you have chosen to be known for. Message them and subtly explain your situation and ask for a call. Remember this is a numbers game so don't expect all to get back to you, but some will and that's where you need to come across well.

Step 8: Job adverts

Don't apply for jobs. Yes you read right. For every job advert on any job board there will be 100's if not 1000's of other people apply, people are likely more relevant than you. The algorhythm on these job boards are designed to filter people out, don't let that be you.

All you need is a company name. Now go check them out on LinkedIn, find the relevant hiring manager, recruiter and HR and introduce yourself. Seems simple right, well it is. Go direct. Only apply if they ask you to.

Step 9: Keep going, it's a numbers game

You may not get results right away, it could take weeks to get even a reply. Remember there are 1000s of other people on the job market that have been trying for months.

Keep going, mix it up and remember how amazing you are.

Step 10: When to accept something and when not to

You might be tempted to accept the first thing that comes along, hey I get it, a job is a job and it makes you feel good about yourself again and it's guaranteed money. I am not saying not to do this, but I am saying take your time to consider whether this role is going to add value to your career or are you going to be miserable doing something you hate.

As much as you are the most important person in all this, I never recommend joining a company knowing that you will leave at the first opportunity, your reputation is important and people remember things.

I really hope that you are not on the job market for long and that you can keep your spirits and motivations high!

Reach out to your Recruitment BFF for more hands on advice, I also have a spreadsheet designed to help you pick out your skills and achievements which I can send to you.

Schedule a free intro call here: https://calendly.com/dan-bff/30-minute-meeting