Redundancy, What’s Next? The Roadmap to Success After Redundancy

Experiencing redundancy can be challenging and every situation is unique, but there are several steps you can take to navigate and make the most of such a bitter sweet career moment.

The six step redundancy roadmap - please feel free to adapt to your specific circumstances 

Firstly - Take time to process your emotions: 

Losing a job can bring up a range of emotions, including shock, frustration, anger, why me, resentment, relief, or even sadness. Give yourself permission to acknowledge and process these emotions. It's normal to feel upset, but try to maintain a positive mindset and focus on the opportunities ahead. Never take redundancy personally, it’s not your performance that is being judged/reprimanded, it's the position that is disappearing due to organisational restructure.

2a. Understand your rights and entitlements: 

Digest and familiarise yourself with your employment contract and redundancy package, any relevant labour laws, enterprise agreements, unions and your rights as an employee.  The links below will be helpful.

2b. Seek clarification and gather information:

 Schedule a meeting with Management or HR to gain a clear understanding of the reasons behind your redundancy. To take you through the redundancy package or severance pay you may be entitled to as well as any outstanding payments, such as accrued annual or sick leave that need to be included.

Ask for specific details about the process, including timelines, support services, and outplacement services. 

Remember it's not HR or your Manager who made the decision to make you redundant, never blame them for the redundancy situation, they might be on the receiving end too.

3. The next step is to review your finances: 

Assess your financial situation and create a budget based on your redundancy package and other potential sources of income. 

Prioritize essential expenses and identify areas where you can reduce or cut costs temporarily. 

If necessary, seek advice from a financial planner or advisor to help you manage your finances effectively during this period. 

Once you have your financial plan in place, Take this as an opportunity to ask yourself

4:  What would my ideal career look like? Am I actually doing what I genuinely love? Is now the perfect time to evaluate what my ideal position can look like…what have I always wanted to do? I

If you ask anyone who has revamped their career, what their biggest regret is? Most will say not starting earlier!!

5. Consider upskilling or retraining:

 If you identify gaps in your skillset or are considering a career change, take advantage of this opportunity to upskill or retrain for high demand jobs of the future, which will make you more competitive in the job market.

6. Take care of yourself: self compassion.

Redundancy can be a stressful and challenging time. Practice self-care by maintaining a healthy routine, exercising regularly, and engaging in activities that bring you joy and relaxation. 

Surround yourself with supportive friends, family, or professional networks who can provide encouragement and assistance to get you back on career track!

If you are currently experiencing the after effects of redundancy and would like help creating your unique bounce back from Redundancy roadmap, please reach out for a confidential 45 minute complimentary strategy call

Useful sites https://www.fairwork.gov.au/ending-employment/redundancy/redundancy-pay-and-entitlements

https://www.lawaccess.nsw.gov.au/Pages/representing/lawassist_employmentrights/wages_and_entitlements/what_am_i_entitled_to/redundancy_pay.asphttps://www.australianunions.org.au/factsheet/redundancy-pay/

https://www.keypointlaw.com.au/keynotes/an-outlook-for-2023-the-looming-issue-of-redundancy/

https://calculate.fairwork.gov.au/EndingEmployment