Redundancy on the horizon: What to do?

According to a survey of 783 UK businesses by Right Management, around 8% of UK employers are mulling over making redundancy plans in the coming six months.

This may come as a surprise to many who thought the worst of worst was already over and done with, while others may already be thinking about what to do if made redundant. If you have been caught off-guard, here is a quick check-list of things you could do to make the transition easier, if not better.

  • - Go the extra mile – If you think your organisation may be considering such measures, you should make sure that you are ready by making yourself indispensable. Think of it as another interview you need to pass, only this time you wouldn’t be the only one in front of the interviewers. Work that extra bit, take on more responsibility, make cordial relations with everyone including your customers and business contacts so that your employers will think twice before considering you as a redundancy candidate.
  • - Start preparing for the worst – Even if you are not sure, it’s best to be ready. Redundancy on the horizon: What to do?Work on your CV, make a list of jobs you had always wanted to do but never got a chance, and most importantly, talk to your family about it. They need to be prepared for it too.
  • - Talk to your friends/union – You can’t research and know about it all, talk to people who know. They might be able to advise you best on a plan of action for someone in your organisation and in your position.
  • - Consider alternatives – Before thinking about quitting your job, you might want to consider your options about it. For example, you could negotiate a change in your contract where you can work fewer days or less hours than you do already. Remember if you quit willingly, you would not be entitled to the redundancy pay.
  • - Research and find a temp job – If you are made redundant, take up any job you can find. You can’t be too picky about it. Studies show that people who are working find it easier to find another job. Sitting at home could lead to depression. You may also pick up a new skill or two.
  • - Skills Development – perhaps one of the best things you can do is to carry out an audit of your skills and see you’re your missing.  There are many adult training courses out there to help retrain you in new skills and a surprising variety of courses available.

As a UK citizen you enjoy a number of rights to protect you from a slump through redundancy. Know your rights here. You can also calculate your statutory redundancy pay here using this redundancy calculator

A few more tips:

  • - Make sure that you have a redundancy plan of action ready in case you need it.
  • - You can also start managing your money better; plan your budget and cut down unnecessary expenditure.
  • - You might want to balance transfer your credit cards.
  • - Think about debt management and which ones to pay off first.
  • - Check to see if you have PPI insurance. Talk to your credit card/mortgage provider for details.
  • - Check if you qualify for any benefits.

Don’t do nothing, act immediately and you will soon know where you stand. For advice about suitable training courses, call us at 0845 299 4049 or contact us.

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