Redundancy can strike anyone at any time, but perhaps the effects are more intense for those in senior executive roles. They may not have the financial constraints of a hand to mouth existence, but they face a difficult task in getting back into the workplace at a similar level, especially at a time of economic slow down. As a general rule, the higher up the career ladder you are the fewer the posts available and the less often they become vacant.
But redundancy doesn’t have to mean despair. Here are some brief guidelines from Colbea on how to move on and re-start your working life. We hope you find them thought provoking and useful:
Analyse your skills
You have gained a great many skills during your career – some immediately apparent and some less so. The ones you have developed through less formal means – for example, leadership, mentoring, practical application, could be vital when selling yourself at interview. You might like to draw up a skills audit on yourself, asking ex colleagues or friends to help – their views are likely to be more objective and positive than your own. At a time when self esteem has taken a knock, it is a good idea to remind yourself of past successes such as deals you have won, or crises you have managed, all of which will serve to highlight your strengths.
Take advantage of what’s on offer
Some larger companies offer redundancy counselling or the opportunity to meet with work placement consultants. Even if you think you’ve heard it all before, it’s worth taking time out to meet them and hear what they have to say. Sometimes all you need is to verbalise the options in order to reach a decision, but at the very least, such people are pools of valuable resource knowledge.
Stand back
The knee jerk reaction to redundancy is to start searching for a post similar to the one you’ve just left, but this is a time when you can stand back and take an objective view of where you’re at and what’s important to you. If a business project hit a setback you would re-group, evaluate the situation and, if necessary, set new objectives. There’s no reason why you can’t apply the same management skills to your personal life. Redundancy is seen as negative but in reality it can be a chance to set off on a more fulfilling career path, go back to university to do that MBA you’ve always meant to do, set up in business, or simply look at ways of achieving a better work life balance. If you can afford to set aside financial considerations for a short time, redundancy could give you the luxury of a breathing space where you can examine the path that’s led you to where you are now and start to form a path that is fit for the future.
Be easy on yourself
In a world where we are defined by the job we do, realities tend to be distorted. Redundancy is often harder to deal with for its effect on self esteem than its financial impact. Any period of dramatic change is bound to cause stress; stress that is compounded by an choices that have far reaching consequences. Talk to friends and others who have coped with redundancy in the past – they’re the people who can identify with your emotions and help steer you through.
A golden opportunity
There are thousands who turn the misery of redundancy into the exhilaration of going it alone. It’s not for everyone, but if you’ve harboured an idea for a business venture or simply yearned to go it alone and forget the political wranglings of the boardroom, then now could be the time. You’ll need to set about the gritty tasks of market research, cashflow analysis and all the rest that’s required to start a business. Depending on your past experience, these might be things that you could do in your sleep, but whatever your background it is doubtful you’ll have all the information you need. Remember, there will be no resources to fall back on, no HR department to sort out the employment contracts, no company perks and no one to do the gofering. But what you lose in terms of corporate life you gain through the satisfaction of creating your own business and being responsible for your own career destiny.
Colbea offers business advice and start up business training for anyone considering setting up in business, from plumbers and decorators to entrepreneurs in hi-tech industries. All Colbea’s advisers are qualified and accredited and all have held senior management posts in financial, professional or commercial industries. They’ll advise on anything from finding an office to finding an investor. People who take accredited advice at the start of their business are 20% more likely to be running a successful organisation five years down the line. Initial advice is free and more in-depth specialist advice is on tap. Call 01206 548833 for details and to make an appointment to see one of the advisers.
