Have You Recently Been Made Redundant? Here’s What to Do

 

Being made redundant is never easy.

In fact, for many it may be the most difficult thing they’ve gone through in their life.

The uncertainty of not knowing when you’ll get another job, with the added financial stress, can be tough to deal with.

But don’t worry, we’re here to help.

It’s our aim to not only find you a job – but to find you the right job. One where you can grow, prosper and, most importantly, enjoy yourself.

For example, we know there have been redundancies in the pharmaceutical industry in recent times. We have lots of opportunities for people with experience in this sector.

But we can assist with all types of job roles.

If you have been made redundant, aside from speaking to us, this guide will give you an idea of what to do.

First of All, Don’t Panic

The immediate response to hearing you’re out of a job is often worry.

We all rely on our jobs to pay for bills, rent/mortgage, and everything else.

But whilst it’s obviously a cause for concern, there’s no need to panic just yet. In all likelihood, you won’t lose your job immediately.

And depending on the nature of your employment, you may be entitled to a severance package. So financially, you shouldn’t be in any immediate danger.

Find out as much information as you can from your employer, as quickly as possible. Starting with your official leaving date, and the amount of redundancy pay you’ll be getting.

Get Your Finances in Order

Once you have all the above information, you can begin making a financial plan.

Start by working out exactly how much money you have available, and how long it will last if you only pay for the essentials.
That means cutting out all the luxuries. Things you need to pay for are obviously your rent/mortgage, bills, food, and any debts you have.

Things you don’t need right now include an expensive mobile phone, Netflix, and a new car.

This might go without saying, but it’s important you cut off luxury spending right away – or you might regret it a little later on.

Once you have a list of expenses, and know what your final paycheck will look like, you know how long you can survive without a job.

It will probably be longer than you think. This should offer some reassurance.

 

See What Benefits You’re Entitled To

Something to factor into your financial plan is government benefits.

You’re probably going to be entitled to something whilst searching for a job.

Everybody’s circumstances are different. If you have children, for example, there will be more money available for support.

Money Saving Expert has a great tool that calculates what benefits you may be entitled to, based on your situation.

It’s really easy to use, and will give you a clear answer in just a few seconds.

This will allow your finances to stretch a little further, and take the pressure off even more. So it’s definitely worth looking into.

Update Your CV – Immediately

If you hadn’t intended on looking for another job, and have been in your current position for a while, then you probably haven’t updated your CV recently.

A CV – and a good CV at that – is what will land you interviews, and allow you to get your foot in the door.

So make sure it’s updated immediately.

In addition, make sure you’re on LinkedIn, and your profile matches (or is very similar to) your CV.

Employers like to check out your online presence these days. It’s not all about a piece of paper.

Once everything is updated, and presented in a professional manner, you can begin applying for jobs.

Start Looking for Jobs in Your Sector

Don’t delay in applying for jobs.

Once your CV is up to date, and your happy with your LinkedIn profile, get on the job websites and start applying right away.

Some people see redundancy as an opportunity to take a break. They’ll leave it a month or so before getting back in the game.

This is absolutely fine – if your financially secure enough to do that. But for most people, who can’t go even one month without a paycheck, it’s not an option.

If you can, start applying for jobs the day you find out about your redundancy. Otherwise you might miss an amazing opportunity.

Speak to Recruiters (Meaning Us)

When you apply for certain jobs, you’ll probably start getting calls from recruiters who reckon they’ve found the perfect role for you.

It’s not always the case.

The BBU process includes a careful screening process that allows us to match candidates with suitable employments.

We won’t recommend jobs you’re not interested in, or that we don’t feel will be the right fit.

One of the things we do is have a face to face meeting with you, to talk about your skills and experience, and then we’ll look to see what we have available.

As mentioned, we do have a number of opportunities in the pharmaceutical industry at the moment.

If this is your area, then now is the perfect time to get in touch with us.

Either give us a call to talk about your situation, or take a look at the current job listings on our website.

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