Coping with being made redundant

Redundancy is more prevalent in today’s society. However, if you are made redundant without any say in the matter this will still come as a shock. This is called ‘compulsory redundancy’.

When you offer to leave your employer – when the organisation is seeking employees to leave – this is known an ‘voluntary redundancy’.

If you are made redundant you will experience a wide range of emotions. What’s important to underline is that the redundancy process should not be taken personally. This is a professional decision by your employer to streamline the organisation to help it be more competitive and agile and can often be down to external market conditions – not internal choices. In the redundancy process, they don’t look at how many years of service you’ve provided, how much of a team player you are or that you’ve been promoted, this – in most cases – is a financial decision.

Legal requirement
Employers are required, by law, to follow guidelines throughout a period of redundancy.

Pay
You are entitled to redundancy if you have a contract and have worked continuously for your employer for 2 years before they make you redundant.

How much redundancy pay you get depends on your age and how long you’ve worked for your employer.

Take your time
You’ll feel a wide array of emotions at the time of redundancy, and in the days and weeks after. These can include:

Depression
Anger
Embarrassment
Isolation

These could last for an infinite period, but it’s important you listen to yourself, take your time and recover from the process. Whether you have been made redundant before or this is your first time, it still comes as a shock.

Talk to others

It’s beneficial to get your feelings out in the open. Talk to family and trusted friends and explain how you’re feeling. The presence of listening ears can be hugely reassuring and helpful to you. They can help you with budgeting and financial support.

Update your CV
When you’re ready, it’s time to list all your accomplishments at your employer and start circulating your updated CV – don’t forget to let MRK Associates know!

Read our advice on updating your CV

Start networking

When you’re ready, it’s time to start showing an appetite for work. Registering with agencies like MRK Associates is a good start, but so is networking. You’ll find yourself going to a few groups to introduce yourself – this is a good thing. Read our tips on succeeding at networking

Advice
At MRK Associates, we have a huge portfolio of advice on our candidate advice area that will help your job search, choosing the job for you and negotiating what you’re worth. It’s all here.

If you’re seeking a role in finance, accountancy, revenue management or office support, let us help you with your job search.

Roland Seddon, Managing Director, MRK Associates.

MRK Associates is a recruitment and career advisory company specialising in three distinct areas of professional employment – finance/accountancy jobs, office support/administration jobs and revenue management/yield jobs. Our main geographical focus is in the Northern Home Counties area (Buckinghamshire, Hertfordshire, Oxfordshire and Bedfordshire) where we provide a personal, knowledgeable and professional service within these markets.

For more information, please telephone 01442 894555 or email: info@mrkassociates.co.uk

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