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Turning redundancy into opportunity

Written by Gareth Sanders on Friday, 08 January 2021. Posted in Insight

When redundancy happens, it can feel like the worst thing in the world. You might be embarrassed to speak with your loved ones or feel angry towards your previous employers. It is completely natural to feel this way.

Turning redundancy into opportunity

When redundancy happens, it can feel like the worst thing in the world. You might be embarrassed to speak with your loved ones or feel angry towards your previous employers. It is completely natural to feel this way. 

Remember - this isn’t personal. When a company has to make teams redundant, it’s usually done with considerable thought and reluctance. The good news for you is this setback can turn into a great positive, if handled in the right way.

These are my four top tips to help you during redundancy. By keeping on top of these 4 things, you’ll be primed to live a more fulfilled life, and turn this redundancy into a huge opportunity for you to improve your outlook. 

Your Mind

You’ll never out-earn your learning. Take some time to improve your skill set and get back into learning. This will not only help boost your employment opportunities, but also your confidence. There are many amazing educational platforms out there including Youtube, LinkedIn Learning and even The Open University.

To make the most of your learning, you’ll need to create space in your diary. Keep a diary and block out specific hours for learning and other self-improvement activities, one of which should be exercise. 

Your Body

Do you need to commit to a marathon? No. But exercise will give you energy. Regular exercise has proven health benefits, of course, but it can also bring a wealth of benefits to your mood and mental health, too.

Make sure you get outside - you don’t have to go for a long run, but moving your feet, even if only for 20 minutes, can help improve your mental health. You’ll get the blood flowing around the body, and even on a cloudy day you’ll receive vital vitamin D from the sun. 

Your Soul

Having your mind and body in the right place is great. What about your soul? This might seem strange to think about, but a positive attitude can support your job search.

You may want to spend every waking moment on job sites applying for hundreds of jobs. This intensity and stress can become totally exhausting! This is where meditation can help with clarity. Spend 10 minutes a day meditating - apps such as Headspace can guide you through it, if you haven’t ever done any meditation before. There are also excellent guided meditation videos on Youtube which you can access for free. Find one that works for you, and commit to regular practice.

Your Wallet

It’s important to get a strong hold on your finances. Even if you have a good redundancy pay out, lump sums of money can quickly evaporate if the proper measures are not put in place. 

In those first few days, it’s useful to make a financial plan. How long will it take to find another job? Then how long will it take to replace any savings you may need to dip into? Know what your outgoings are, and how you’ll be able to cover them. Cut back on unnecessary spending and calculate how many days you have left until things start to get really tight.

If you have a large redundancy pay then it’s definitely worth seeing a financial advisor and getting everything in order, to make the most of this windfall.

Facing redundancy is a highly emotional time, but this can also be an enlightening and positive experience. Is this a door being closed, or another being opened? It can be a great time to retrain. What is that dream you’ve always had? Perhaps now is the right time to start pursuing that?

About the Author

Gareth Sanders

Gareth Sanders

Gareth Sanders is one of the UK Franchising scenes brightest young stars. Having left school at 17 to join the military, a severe illness left him sidelined for many months.Whilst recovering from illness Gareth took a job in a cleaning company and he realised his dream to start Sparkle Cleaning in 2016.

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