If you’re facing redundancy or have just been made redundant, it’s a scary time. You don’t know when you’ll next find a job, and you might not have much in the way of savings. The MoneyMagpie team understand how stressful redundancy can be, so we’re here to reassure you that there are steps you can take to make it easier.
Make sure your redundancy is legal
If you’ve been working for your employer for over two years, there are certain rules they have to follow to make you redundant. This includes minimum notice periods and minimum redundancy pay.
ACAS have a useful guide to redundancy – and if you think you’ve been made redundant illegally, they can help you sort it out.
Unfortunately, if you’ve worked less than two years then you’re in a far less strong position. However, it’s important that rules are still followed – such as a written notice, confirmation of your final working date, and a statement of your final pay. Your pay cannot be withheld.
Update your CV immediately
We often leave our CV to languish on a forgotten hard drive when we’re happy in our jobs. But spending time on sprucing your CV should be the very first step you take when you hear that you might be made redundant.
Make sure you include your most recent skills, training, and tasks. It’s often surprising how much you’ve learned in your job even if you haven’t been there long! CVs are best when they focus on your recent work experience first, with education lower down the page.
Make sure to include a personal statement that can easily be customised for each job role you apply to, to save time and include some key words that’ll get you through any automated CV sifting processes.
Reach out to friends and family
Consider who is in your network – friends, family, colleagues, even clients and former customers. Reach out to them to let them know you’re looking for work. Many jobs are found through word of mouth, and getting a referral from someone already at a company can help strengthen your application.
Even if someone can’t help you find a new job, you might find they can help in other ways. Talking over the stressful situation of redundancy with loved ones can help reduce the anxiety around the process, and give you clarity about how to move forward.
Check you’re receiving benefits you’re entitled to
Finding a new job can take some time, so as soon as you finish your final day of work, apply for Universal Credit or other relevant benefits. This safety net is designed to help you survive through the jobless months – but it can take up to six weeks to get your first payment.
There may be other benefits you’re entitled to which you weren’t aware of before, such as Child Benefit and Council Tax Reduction. Use an online calculator like the ones on Turn2Us and EntitledTo to find out what else you might be able to apply for to help tide you over in the leaner months.
If you have a long-term health condition or disability, there may be disabled grants and benefits you can apply for like Personal Independence Payment. These will help with the additional costs of being disabled or chronically ill. If you’re currently pregnant and made redundant, Pregnant Then Screwed may also offer extra guidance.
Consider self-employment
If you’re experienced in your career and it is something you can create your own business in, consider whether now is the time to start up your own freelance career. Many people use their redundancy packages to cover the costs of starting your own business, and launch into the world of consultancy.
Self-employment isn’t easy and it’s not suited for everyone. However, the flexibility of hours, ability to advance your career by working in a niche, and control over your income make it an attractive prospect for many.
Take time off to job search
It’s important to take time off for your job search. If you’ve been working for more than two years for the same employer, they must allow you reasonable time off to attend job interviews.
If you haven’t worked two years, things are less flexible but most employers will allow reasonable times for interviews, such as starting late or leaving early. Try not to take your unused holiday allowance if you can avoid it, as this extra cash will help fund you through your unemployment period.
Keep a professional attitude
Redundancy isn’t personal, so it’s important to remember that when dealing with your employer. More than that, keeping any resentment under wraps is important when speaking with potential new employers. It’s tempting to bad-mouth a boss who chose to keep someone else instead of you during a round of redundancies, but this reflects badly on you in interviews.
Our final bonus tip is this: take the opportunity to reassess your life as a whole. Do you want to move to a new location? Has your job held you back from retraining? Perhaps you’d like to spend more time with your children.
Sometimes, we get so wrapped up in work, it’s easy to forget we should work to live, not live to work. Take a step back from the redundancy process and ask yourself: “Without the job tying me down, what do I really want from life?”.
This can help you make your next step decisions with mental clarity and positivity.
FAQs
How to explain your redundancy in a job interview
- Explain the situation. ...
- Reference your successes in the role from which you were made redundant. ...
- Use positive language. ...
- Focus on what you have been doing since your redundancy. ...
- Explain why this role you're applying for is a good fit for you.
How to respond to redundancy? ›
Tips for Facing Redundancy or Stand-downs at Work
- Don't panic. ...
- Be sure to take practical steps before leaving. ...
- Counselling can really help. ...
- Remember that your reaction is normal. ...
- You did nothing wrong – it's not personal. ...
- Know your rights – and claim them. ...
- Ask for support in finding a new role.
How do you solve redundancy? ›
Here are four ways an organization can reduce data redundancy in its databases:
- Leveraging master data. Master data is the sole source of common business data that a data administrator shares across different systems or applications. ...
- Normalizing databases. ...
- Deleting unused data. ...
- Designing the database.
What to do if you know you will be made redundant? ›
If you already sense redundancy coming and it's out of your control, it might be a good time to start looking for another job. Think about your transferable skills, update your CV, and start reaching out to recruitment consultants to explore new opportunities.
What is redundancy in your own words? ›
a. : superfluous repetition : prolixity. b. : an act or instance of needless repetition.
How do I prepare myself for redundancy? ›
6 ways to prepare for redundancy
- Do a review of your finances. ...
- Check how much redundancy pay you could be entitled to. ...
- Know where you can get help. ...
- Find out what benefits you are entitled to. ...
- Take steps to reduce your debt. ...
- Update your CV and covering letter.
How to fight redundancy? ›
You should appeal in writing to your employer within a reasonable timescale of being told you'll be made redundant. For example, 5 days could be reasonable. It's a good idea to get help from employee representatives, such as a trade union, who may be able to accompany you to any meetings with your employer.
How do you handle redundancy process? ›
Here are some steps employers can take to manage staff redundancies:
- Create a redundancy plan.
- Be lawful, fair and transparent.
- Offer clear communication.
- Provide employee support and guidance.
- Consider remaining employees.
- Continue to learn and adapt.
How much is redundancy pay? ›
Your employer must give you: 1.5 week's pay for each full year you worked from age 41. 1 week's pay for each full year you worked when you were between 22 and 40. half a week's pay for each year you worked when you were between 17 and 21.
What are the three R's of redundancy? ›
When reorganising employees, employers need to be aware of the three R's: redundancy, relocation and renegotiation of contracts. Money saved by changes involving the three R's can be quickly dwarfed by the cost and financial exposure of employment disputes.
Basically, there are five main stages to consider during the redundancy process:
- Stage 1: Preparation. ...
- Stage 2: Selection. ...
- Stage 3: Individual Consultation. ...
- Stage 4: Notice of Redundancy and Appeals. ...
- Stage 5: The Termination Process.
Is redundancy the same as termination? ›
Redundancy occurs when an employer either decides they no longer need an employee's job to be done by anyone, or the employer becomes insolvent or bankrupt, and terminates their employment. The job itself, not the employee, becomes redundant.
Can you go back to a job after being made redundant? ›
You are generally free to start a new job immediately after redundancy, provided there are no restrictive covenants in your contract. Whether you've taken voluntary redundancy or been made redundant, knowing your legal rights and planning your next steps will help you move forward confidently.
What to ask if you're being made redundant? ›
Ask why; why now; what are they hoping the redundancy or redundancies will achieve; what will happen to your duties and responsibilities; what alternatives have they considered? Make sure your concerns are known and make sure you obtain a response from your employer to your questions.
Redundancy- UK employment solicitors ...Landau Lawhttps://landaulaw.co.uk ›
Landau Law is one of the best known and leading specialist employment law firms in the UK, acting for employees and senior executives. We are practically the on...
If there is a collective consultation and your Trade Union or Employee Representatives are liaising with your employer ensure you talk to the representatives an...
Sadly, redundancies are a fact of life in the modern workplace. This factsheet aims to give you the 10 best tips on how to survive redundancy – either by convin...
How to explain redundancy in an interview sample answer? ›
Example Sample Answer: “I was part of a recent restructuring at my previous company, which unfortunately led to my position being made redundant. This decision was driven by [give detail as to the organisational changes or reasons which led to the change in your job situation].
What is a redundancy example? ›
Written down – You may have heard the phrase “Write this down” or “It's written down”, but when something is written it has been taken down. There is no need for you to add the word down to it. Still remains – “Yet she still remains” this phrase is redundant because remains means that something is still there.
What should I say in a redundancy meeting? ›
What to discuss at the consultation. The consultation is a chance for your employer to talk about the changes they're proposing and why you're at risk of redundancy. You can ask them questions and make suggestions on how redundancies could be reduced or avoided altogether.
What is the best example of redundancy? ›
Here are some common examples of redundant phrases:
- “small in size” or “large in size”
- “true facts”
- “basic fundamentals”
- “past history”
- “smiled happily”
- “evolve over time”
- “consensus of opinion”