When redundancy looms - being prepared never hurt anyone. Here's what to do - SEEK Career Advice

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When redundancy looms

When redundancy looms

With big redundancy moves happening locally and abroad, getting that tap for a private chat with your boss might not come as a surprise.

But whether it’s a surprise or not, there’s plenty you can do to be prepared when the time comes.

  • The financials. It’s time to sit down and face the financial facts. If you haven’t already, write up a budget and stick to it so you can make every dollar stretch further. It’s not quite time to start living like a poor churchmouse, but maybe you don’t need to buy lunch at a café every day. We’d never suggest skipping the morning coffee – some things are sacred – but being financially prudent in uncertain times can often pay for itself down the road.

    You may be entitled to unemployment benefits while you look for a new job. Visit Centrelink to see if you meet the criteria. You’re required to meet weekly obligations under this scheme, so read up on what you need to do.

    If you’re a homeowner or have other substantial financial obligations, it’s worthwhile getting income protection insurance to help you over the lean times so you can cover your mortgage and bills.

    Don’t want to wait on the dole or for insurance benefits? Amp up the job search to look for temp or casual work, which can offer quick hire and payments.
  • Update your resume. Yes, it’s time to hit the job market. While you may feel less than confident after a redundancy, take a moment to think about what you achieved at work. What things did you do well? Did you work on projects or new initiatives at work? List them!

    Thinking about what you’ve achieved will not only make you feel better, they’re great to include in your resume. Update your resume and your SEEK Profile to show what you achieved at work and what you’re looking for next.
  • Update your skills. Think about what’s missing from your resume. What do you feel would help you in your career? Now’s the perfect time to update your skills – visit SEEK Learning to look for courses by industry, study type, or provider.
  • Reach out to recruiters and your networks. While it’s tempting to take a break before you either leave work or look for a new job, now’s the time to take action.

    Look for recruiters that advertise jobs in your industry and talk with them. A quick coffee spent discussing your work history and what you want to do in future can put you ahead of the pack of other job seekers because the recruitment consultants will know you, your strengths and what jobs you’d be great at.

    Don’t hold back on social media – let your networks know that you’re looking for work. It’s also the best time to review your social media and make sure your posts reflect your best self – just edit as required.
  • And finally…Don’t take it to heart. Redundancies are unfortunately part of the working world, and we’re a long way away from the “job for life” previous generations have enjoyed.

    You’ve found work before for a very compelling reason – you’re great at your job. That hasn’t changed because of a redundancy.

    And pretty soon, some other company is going to discover just how great you are at your job.

    So go find them. 

Read about your rights for redundancy here.

Redundancies are unfortunately part of the working world, and we're a long way away from the ?job for life? previous generations have enjoyed.