It’s not nice to be working in an environment if redundancies are on the horizon. Depending on your position in the company, you might be one of the first or last to know what’s going on. The uncertainty of your future is stressful but more people are facing these situations all the time. So how can you manage the situation without losing it and stay sane in a process you have no control over?
Learn what your rights are. This is really important if you are facing an uncertain future. What is your company policy on redundancy? There is a minimum legal requirement that your company has to stick to, but some companies go above and beyond these, especially if you’ve been working there for a good number of years. You might have the potential for a good redundancy package, which may not be a bad thing for you. But whether facing possible redundancy is good or bad for your current situation, knowing what you are entitled to is key. Check the policy and the Gov.uk website for the current legal requirements. Don’t forget that you can’t be selected for redundancy based on protected characteristics such as race, religion or sexual orientation. Don’t forget that currently these minimum requirements only apply once you’ve worked for the company for 2 years, so check your individual policies to be sure.
Keep your industry contacts on side. Hopefully, you’ve built up a good network of contacts through your role and can reach out to others for help and support. This could be asking if they know of any current vacancies, or anything that might come up, asking for pointers on applications or for someone to put in a good word for you down the line. Reach out and use those networking sessions to remind everyone how great and employable you are!
Assess your skills. You’ll need to be focussing on how to promote yourself for new roles, so think about your current skills. What transferable skills do you have, where do your strengths lie? Is there anything you need to do to fill gaps in your current knowledge base? Work on that now so when the time comes for discussing these at interviews, you are not only well prepared for the questions, but have new things to discuss. Focus on the next steps rather than the possibility of losing your current job and keep your positive attitude. It will go a long way in your future role.
Keep your routine. It can be tempting to check out of your current role when you fear change is on the horizon, especially something as daunting as redundancy, but keeping your focus and routine both inside and out of work will help keep things moving. You won’t be in a good position to sell yourself and your skills to potential new employers if you’re sitting around all day doing nothing. You also won’t be endearing yourself to your current employer, who may be having to make some tough choices in the near future. Keeping things going helps your own mental health, motivation and could be your saving grace further down the line.
Keep yourself going. Make sure you have support around you as facing redundancy can be hard. Maintain those friendships and relationships, keep up with the gym or sports team and talk to your family about what’s going on.
Facing an uncertain future can be daunting, but it can also help you to re-focus and think about what you want for yourself next. If that pay-out is likely to be a good one, what could you do? Take some time and think about what you want, where you want to be and how you can achieve it. Don’t let a potential redundancy over take you.
So, what’s this got to do with The Wage Shop?
Our great advice is just part of your simple, flexible service. With The Wage Shop, we make sure you’re paid on time and take care of your Tax and National Insurance contributions, leaving you to focus on your day to day workload.
Take a look at the website to see what a great service we can offer, or Contact Us for more information.