Redundancy | What Can You Do?

In a recent survey done by Right Management of 783 businesses in the UK, around 8% of all UK employers are preparing to plan for redundancy in the upcoming six months.

Even though it comes as a surprise to many who were thinking that the worst is already behind them, others have already started planning their next step. Here is a quick list of things you could do to help with the transition.

Do a little extra – If you doubt that your organisation is considering such measures, you should try to work even harder so that it makes you indispensable. With everyone competing, you can take it as another interview that you need to clear. Take on more responsibility, work a little extra and be cordial with your customers and business contacts to give your employers no reason to see you as a redundancy candidate.
Be ready for the worst – A stitch in time saves nine. Even though you may be unsure, it doesn’t hurt to be ready for it. Rework your CV, make a list of jobs you wanted to do but never had a chance, and importantly, talk to your family about this. They need to be ready for it too.
Discuss it with your friends/union – You can’t just research and learn about it all, so talk to people who might advice you better. They can help you formulate a plan of action for someone who has been working in your position in your organisation.
Think about your options – If you are thinking about quitting your job, think again. You can consider some other options like re-negotiating your contract where you could work for a fewer days or less hours than you already do. Remember that if you are going to quit willingly, you would not be entitled to the redundancy pay.
Look for a fill gap job – In case you are made redundant, go for any job you can find. Don’t be too picky about it. Studies have shown that it’s easier to find another job while you are in the loop for working. Sitting at home for too long could easily lead you to depression. Also, in any job you are working you could easily pick up a new skill.
Re-evaluate your skills – You should also carry out an audit of your skills and think about what you are missing. There are many adult training courses offered by service providers which can easily train you in new skill sets.
Also, you should remember that as a UK citizen, you enjoy a number of rights that protect you from a slump through redundancy. You can learn more about them here. You can calculate your statutory redundancy pay using a redundancy pay calculator here.

A few extra tips: Settlement Agreement Solicitor

Keep a redundancy plan of action ready just in case you need it.
Try an manage your money better; plan your budget and cut down any unnecessary expenditure.
You can also balance transfer your credit cards.
Also think about managing your debts and which ones to pay off first.
Check if you have PPI insurance. Talk to your credit card/mortgage provider to know more details about this.
See if you qualify for any benefits.
Remember that redundancy can’t be avoided but you can do your part to stay safe by being smart.

Leave a Reply

Your email address will not be published. Required fields are marked *