Career Partners Plus

The Honest Truth About Redundancy

Web

Great article from SEEK, 2nd February 2017.

Redundancy is normal. It happens. But it is hard to stomach. More than 1 in 4 Australians (26%) have had the redundancy axe fall on them at some point in their working lives. More than half the population (58%) either know someone who has been through redundancy or have been themselves.

The reality is, even if you are made redundant you will be back on your feel faster than you think. SEEK found that 60% of Australians made redundant found another job within two months. That is 17% in less than 2 weeks, 20% within 3 to 4 weeks and 23% within 1 or 2 months.

Although most people find new jobs quickly, 74% of those made redundant do feel negative about the experience. The reasons for this is that they often enjoyed their job, were stressed about losing it and their income, finding a new job was stressful, or the broader emotional impact of the redundancy on them.

About 16% of Australians surveyed for this research were happy about being made redundant. Reasons included they didn’t actually like their organisation, thought it was time to leave anyway, and/or the payout was good.

We asked Andrew Morris of Robert Half for some career advice for Australians who may face redundancy or are going through the process now. This is what he said:

  • Don’t live with your bags packed and one foot out the door – if you’re constantly worrying about redundancy you are not going to enjoy your current role and give your best. Instead make sure you are one of the 20% who almost always survive the redundancy round. “Be the athlete of your business. If you are in the top 20% you will be the last to go” says Morris. Be the best salesperson or ensure that your skills are integral to the organisation.
  • Be aware of what’s happening in your organization – 2 in 5 (41%) of Australians made redundant said it came as a complete surprise, whereas the others either had an inkling or were expecting it to happen. If there’s change in the air then raise your redundancy awareness. Is your organization merging with another, being sold, downsizing, or is profit going down? Look at how you can up your usefulness to the organization and add to your skills. Stay open to opportunity and get your CV updated and move your networking into overdrive so you are ready to move on and up.
  • Take control of negative feelings –  turn that sentiment around and find ways to feel positive: even if that’s channeling your energies into upskilling to make yourself more marketable internally or externally. If the axe has fallen already, accept that you are going to go through a grieving process. It’s perhaps best to look for a new job first, rather than take a holiday with your redundancy money, says Morris. That way you’ll have more certainty.
  • Seek help – you are the best person to reply on when redundancy looms, says Morris. But get out and seek advice from friends, family and consultants even if your employer is offering outplacement.
  • Finally, be proactive – whether redundancy is in the wind or has happened already, write yourself a written job search plan and start ticking off the steps towards your future. “As former American President Abraham Lincoln once: “I’m a great believer in luck. The harder I work, the more luck I have”.

Career Partners Plus can help if you are at risk of redundancy or have been made redundant and need some guidance to get back into the workforce. Contact us to see if you are eligible for free assistance via our Contact Us form in this website, or phone 8326 6540.