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Career Counsellor Psychologist Career Coach POSITIVE STEPS FOR A POSITIVE FUTURE
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Surviving Redundancy |
I will survive: dealing with redundancy
By Allison Tait (article for http://yourlifeworks.ninemsn.com.au)
"At first, I was afraid, I was petrified..." Gloria Gaynor was singing about love gone wrong in her 1978 anthem, but she could have been charting the course of a redundancy as well. Find out what to do when your job walks out the door.
Is there an un-sexier word in the English language than "redundant"? Basically, it's a termination of employment by your employer because your employer either doesn't need your job done any more or doesn't need as many people doing your job.
Either way, it winds up with you being shown the door. Dumped.
Of course, best-case scenario is that you put your hand up for this dumping — "voluntary redundancy". Worst case, you have no choice and are dragged kicking and screaming from your desk. Either way, there's a certain sense of rejection that goes with being made redundant.
"The first thing you need to do is to recognise it's going to have an effect on you," says Jacqui Rochester, a Brisbane-based registered psychologist specialising in career counselling and coaching.
"It's very common, especially with a forced redundancy, to go through the stages of grief. It helps to recognise this, to help take the pressure off." First stage, denial ("if I just ignore this, maybe it will go away"), followed by anger ("they’ve got no right"), bargaining ("maybe I can negotiate my way out of this"), depression (self-explanatory) and, finally, acceptance.
The easiest way to get to acceptance, says Jacqui, is to take advantage of what your company has on offer. "If they're offering outplacement services or employee assistance program (EAP) services, seriously think about utilising them."
"People often ignore these services, thinking they don't need them, but you've got nothing to lose by taking them up," she says.
One major reason to sign up is because the way you manage your reaction to a redundancy can have a big impact on what happens to you next.
"It's a sad fact of life that people look to work with people who are positive and on top of things," says Jacqui. "If you present in an interview as someone who's down, it will affect your prospects."
Money, money, money
Prospects are all very well, but often the only thing on your mind when redundancy looms is where your next dollar is coming from. Understanding the financial implications is paramount — and, of course, everyone's situation is different.
Firstly, should you take a voluntary redundancy if one is offered? The idea of a lump sum can be attractive.
"If you're looking to retire, then a voluntary redundancy might be beneficial," says Matthew Walker from Sydney's WLM Financial Services.
"They might offer you a package sweetener, which might give you more than if you'd otherwise simply retired."
Those with a few more working years ahead of them will need to consider the offer carefully. "If you're thinking that redundancies might be offered at your place of work, start looking for something else," says Matthew. "Take a voluntary redundancy if you get yourself set up elsewhere." Otherwise, his advice is to stick it out.
"There are a lot of taxation and superannuation planning issues around redundancy," he says. "You need to take advice and look closely at what you're being offered. The bottom line is always 'can I meet my lifestyle expenses?'
He also recommends educating yourself about what your entitlements are. Under basic employment law, a redundancy payout is made up of everything from unused leave to a sum in lieu of notice. Your statement of termination will lay it all out for you. If you have queries, start with your HR department or an accountant or visit your union representative if applicable.
Now what?
It's all over bar the shouting (and the shouts at the bar), but it's never too soon to start thinking about what you're going to do next.
"Start networking as soon as you see it coming," says Jacqui. "Get in touch with people in your industry and put your feelers
She suggests that you develop a list of contacts and focus on your transferable skills. Find out what the industry is seeking in your field, then do some courses or training to make sure you have those skills. The right attitude also goes a long way.
"Don't be depressed about having to take a pay cut or move into a different area," says Jacqui. "Keep looking at the big picture — that cut now might get you into something you really want to be doing in the future."
In her view, a redundancy doesn't present too big a problem on your CV.
"It's common enough now for people to understand," she says. "That said, I wouldn't necessarily write 'redundant' on your CV— just answer the question if asked in an interview and tell them you 'took a package'.
"Always try to make it look like you jumped, rather than were pushed. "
Tips for dealing with redundancy
By Allison Tait (article for http://yourlifeworks.ninemsn.com.au)
"At first, I was afraid, I was petrified..." Gloria Gaynor was singing about love gone wrong in her 1978 anthem, but she could have been charting the course of a redundancy as well. Find out what to do when your job walks out the door.
Is there an un-sexier word in the English language than "redundant"? Basically, it's a termination of employment by your employer because your employer either doesn't need your job done any more or doesn't need as many people doing your job.
Either way, it winds up with you being shown the door. Dumped.
Of course, best-case scenario is that you put your hand up for this dumping — "voluntary redundancy". Worst case, you have no choice and are dragged kicking and screaming from your desk. Either way, there's a certain sense of rejection that goes with being made redundant.
"The first thing you need to do is to recognise it's going to have an effect on you," says Jacqui Rochester, a Brisbane-based registered psychologist specialising in career counselling and coaching.
"It's very common, especially with a forced redundancy, to go through the stages of grief. It helps to recognise this, to help take the pressure off." First stage, denial ("if I just ignore this, maybe it will go away"), followed by anger ("they’ve got no right"), bargaining ("maybe I can negotiate my way out of this"), depression (self-explanatory) and, finally, acceptance.
The easiest way to get to acceptance, says Jacqui, is to take advantage of what your company has on offer. "If they're offering outplacement services or employee assistance program (EAP) services, seriously think about utilising them."
"People often ignore these services, thinking they don't need them, but you've got nothing to lose by taking them up," she says.
One major reason to sign up is because the way you manage your reaction to a redundancy can have a big impact on what happens to you next.
"It's a sad fact of life that people look to work with people who are positive and on top of things," says Jacqui. "If you present in an interview as someone who's down, it will affect your prospects."
Money, money, money
Prospects are all very well, but often the only thing on your mind when redundancy looms is where your next dollar is coming from. Understanding the financial implications is paramount — and, of course, everyone's situation is different.
Firstly, should you take a voluntary redundancy if one is offered? The idea of a lump sum can be attractive.
"If you're looking to retire, then a voluntary redundancy might be beneficial," says Matthew Walker from Sydney's WLM Financial Services.
"They might offer you a package sweetener, which might give you more than if you'd otherwise simply retired."
Those with a few more working years ahead of them will need to consider the offer carefully. "If you're thinking that redundancies might be offered at your place of work, start looking for something else," says Matthew. "Take a voluntary redundancy if you get yourself set up elsewhere." Otherwise, his advice is to stick it out.
"There are a lot of taxation and superannuation planning issues around redundancy," he says. "You need to take advice and look closely at what you're being offered. The bottom line is always 'can I meet my lifestyle expenses?'
He also recommends educating yourself about what your entitlements are. Under basic employment law, a redundancy payout is made up of everything from unused leave to a sum in lieu of notice. Your statement of termination will lay it all out for you. If you have queries, start with your HR department or an accountant or visit your union representative if applicable.
Now what?
It's all over bar the shouting (and the shouts at the bar), but it's never too soon to start thinking about what you're going to do next.
"Start networking as soon as you see it coming," says Jacqui. "Get in touch with people in your industry and put your feelers
She suggests that you develop a list of contacts and focus on your transferable skills. Find out what the industry is seeking in your field, then do some courses or training to make sure you have those skills. The right attitude also goes a long way.
"Don't be depressed about having to take a pay cut or move into a different area," says Jacqui. "Keep looking at the big picture — that cut now might get you into something you really want to be doing in the future."
In her view, a redundancy doesn't present too big a problem on your CV.
"It's common enough now for people to understand," she says. "That said, I wouldn't necessarily write 'redundant' on your CV— just answer the question if asked in an interview and tell them you 'took a package'.
"Always try to make it look like you jumped, rather than were pushed. "
Tips for dealing with redundancy
- Take advantage of what your company has on offer — outplacement services or employee assistance programs.
- Stay positive. "People look to work with people who are positive and on top of things."
- Educate yourself about what your entitlements are. Ask your HR department, accountant or union representative for advice.
- Start networking as soon as you can. Get in touch with people in your industry and put your feelers out — develop a list of contacts and focus on your transferable skills.
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