Rebounding after a redundancy

In the United Kingdom, there were 93,000 reported redundancies made in the three months to April 2023, compared to 81,000 in the previous month.

While the pandemic led to an increase in furloughs and temporary layoffs, towards the end of 2022 and into 2023, several major companies such as Meta and Amazon initiated mass redundancies, which involve reducing the workforce by 500 or more within a 30-day period.

While these statistics may be concerning, they should not instil fear of sudden job loss. However, it is prudent to have a plan in case your current employment comes to an end. Here are some strategies and action plans to help you recover in the event of redundancy.

Take a mental health hiatus

Rather than immediately rushing to update your CV and find a new job, it's important to take a mental health break. Following a layoff, you may experience a range of emotions, including anger, anxiety, and even grief, particularly if you had a fulfilling job or a long-standing position with respected colleagues.

Allow yourself time to process these feelings before embarking on a job search. Depending on your financial situation and other circumstances, taking ample time to regroup will benefit you in the long run. Prospective employers and recruiters can sense if you are desperate, resentful, or not fully prepared. Once you have come to terms with the situation, you can regain your confidence and take action.

Craft your redundancy narrative

While redundancies can happen for various reasons, it's crucial to shape your experience into a coherent and concise narrative before reaching out to your network or applying for new positions. This story should be positive and delivered with confidence. For example, you could say, "My position was eliminated due to a restructuring, and I'm taking this opportunity to explore new career directions," conveying a forward-thinking approach without any hint of resentment or desperation.

Your narrative should also include specific aspects you are looking for in organisations or individuals you intend to approach. For instance, you could say, "What I'm currently seeking is x, y, z, and I'm interested in your organisation because of x, y, z."

Simultaneously, refine your CV and update your LinkedIn profile (or other job-seeking platforms) to reflect the skills and experiences you have gained since your last job search. Present yourself as the person you are now, showcasing growth and indicating where you aspire to go next.

Leverage your network—both professional and personal

Although your confidence may be slightly diminished, it's important to recognise that experiencing redundancy is not a failure and should not deter you from reaching out to your network. The best way to find suitable job opportunities is by informing everyone in your network  that you are actively seeking new opportunities and specifying what you are looking for. Who do you know that works in your desired field or is associated with organisations you are interested in?

Create a list of individuals who might be helpful in your job search. Request meetings with them to discuss your experiences and your vision for the next step in your career trajectory. Conduct research and come prepared with specific questions and reasons for the conversation, rather than relying solely on their guidance for your next steps.

Prioritise upskilling

A layoff can be an opportunity to focus on gaining new skills or enhance existing ones. Do a self-evaluation to identify in which areas you want to improve or which new skills you want to develop. There are several approaches to upskilling: You can take online or evening classes, attend webinars, or participate in other professional training. Doing so will not only build your skillset but expand your network and show recruiters and hiring managers that you are committed to growing in your career.

Consider which skills are in high demand in your industry and which are most valuable for the specific career path you intend to pursue. Seeking guidance from a career coach can assist you in this process, helping you refine your goals and chart a course to acquire the necessary skills.

When ready, launch your job search

Redundancies may feel like rejections or setbacks, but if you take the time to recover from the loss, re-evaluate your career path, strengthen your network, and upskill to become a highly qualified candidate, you will emerge from this situation stronger.

Approach recruiters with renewed confidence and a clear sense of your professional identity and desired growth. Your newfound confidence and self-awareness will greatly benefit you in your job search.

Ready to get started? Take a look at our open positions, or submit your CV to one of our recruiters.