Manual Turn Redundancy to Opportunity (How to)

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Obviously it is easier said than done but it is important to stay calm and positive.

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This is a temporary situation that will resolve, positive thinking will lead to bigger and better things! Keep yourself busy and have faith in yourself and the ones you trust! Volunteering is a brilliant thing to do whilst you are out of work, it may boost your job prospects and add some extra skills to your CV as well as being very enjoyable and rewarding. You could also take the time to learn a new skill by taking up a course or brush up on existing skills.

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All of which shows potential employers your dedication to professional development. Register with agencies, build those relationships in your sector and keep an eye on job boards, tailoring your CV and short cover letter to each job you are applying for.

How to Turn Your Fortune Around Following Involuntary Redundancy - Goal Setting Guide

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Tom Howe, managing partner, The Jefferson Group. The key is not to panic. People often discover that a redundancy can open doors to new financial and lifestyle possibilities. While every situation is different, an unexpected redundancy could be turned to your favour.

As soon as possible, obtain a copy of the proposed payout. An accountant or financial adviser can then help you assess the financial implications and options available to you. This could help reduce your tax liability and also boost your super with contributions over your leave period.

From negative to positive: turn redundancy into an opportunity

Before making any financial decisions, take the time to assess your position and get some perspective on the situation. A payment can provide you with the equivalent of six months to a year of salary, so, if you can get another job within that time frame, you could be better off. You may feel more secure placing your payout into a savings or home loan offset account that you can easily access.

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  6. This is particularly important for smaller payments. If so, we understand that this may be a difficult time for you, but our Redundancy and Outplacement Support Service can help you turn misfortune into opportunity. During the confidential one-to-one session you will receive career guidance and formulate a career and job search action plan. The session can be scheduled at your place of work or off-site.

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