How to survive a career crisis

Published on Monday 22 September 2008 21:09

1 DON’T PANIC IT’S THE natural reaction when any employee hears the dreaded “r” word, but panicking is probably the least helpful thing you can do at this stage. Instead, says Jackie Lawrie, a director at Lawrie Thomson Recruitment, “take a deep breath, and remind yourself of what you still have in terms of skills and potential. A lot of people take a redundancy personally, but what you have to remember is that it’s the post, not the individual.”

At this stage, it’s also worth finding out if your company is providing any support for redundant employees. “Many companies provide outplacement advice and counselling,” says Alan Masson, employment lawyer at Anderson Strathern. “Take advantage of it if they are. It’s not just basic stuff like looking for a new job, they’ll also give you more subtle help, such as how to prepare for interviews and assess your best skills, which can be incredibly helpful.”

2 GET WHAT YOU’RE ENTITLED TO

THE one bright spot on the horizon of any redundancy is the lump sum that your employer hands you as you head out of the door. But it’s worth making sure you’re getting the maximum sum you’re entitled to. Masson says: “Statutory redundant payments don’t amount to a huge amount: 9,900 is the maximum you’re entitled to and that’s if you’re 61 and have been in the job for over 20 years. If you’re 40 and have been in the job ten years you’ll get only 3,300, so ask if you’re entitled to enhancements.

“Many companies offer enhanced redundancy payments, which can be negotiated on an individual basis. So find out exactly what’s available from your employer and if you’re a member of a union, get in touch with them and ask if there’s anything they can do to help.”

3 TAKE TIME TO MOURN

“PEOPLE grieve when they are made redundant, in the same way they might grieve over a bereavement or a divorce,” says corporate psychologist Ben Williams. “There are a variety of stages people go through: shock that it’s happened, anger at their employers, disbelief that it’s happened to them, fantasy that something will turn up, depression at the situation, and guilt that they’ve brought it on themselves.

“You should allow yourself to do this. It’s OK to feel angry. Once you’ve gone through that, you’ll arrive at acknowledgement: my job’s gone, there’s nothing I can do about it. That’s when you start becoming more self-aware and start to get insight into your strengths. That’s when you can sit down, start planning and take action.”

4 WORK OUT A BUDGET

THE reality of any redundancy is that, for the short term at least, money may not be as plentiful, so it pays to work out a financial plan. Kate Philip, managing director at independent financial advisers Independent Women, says: “Make a list of your expenditure and work out your monthly payment, then think about ways of reducing it. There are lots of things you can do, from reducing your utility bills to curtailing how much you spend on food.” For a practical website that offers loads of advice on cutting back your bills, try www.moneysavingexpert.com

And there are other ways to ease your monthly payments. “If you’ve received a lump sum you may be able to use that to pay certain things upfront, possibly an annual bill or your mortgage,” says Philip. “The key is not to make any panic decisions.

“Don’t cash in your ISA – for a start, you’re likely to make a loss, given the current market climate. Don’t crank your credit card up to its limit and think you can live on that, it’ll just get you into a circle of debt. If you are worried about your credit card payments, talk to your provider. They may be able to offer a solution.”

5 TREAT IT AS AN OPPORTUNITY

“YOU need to ask what you want out of your career, and not just view it as a way of putting food on the table,” says Williams. “Treat redundancy as an opportunity to change direction. A lot of clients tell me that being made redundant was the best thing to happen to them and allowed them to finally find a career that fulfilled them.”

Lawrie adds: “For a lot of people, a redundancy is an escape from a job they didn’t enjoy. If you get a good severance package it might give you the freedom to take a year out to do something you’ve always wanted to do.

“Or you may want to go in a different direction, decide your job isn’t just about the money and make a complete career change. The important thing is to make a decision that’s right for you.”

6 TALK TO YOUR LENDER

A TRIP to the bank may seem the last place you want to go after losing your job, but you could be surprised at the reception. Philip says: “Your lender will be keen to listen and be helpful, and they’ll probably be able to give you several options to reduce your overheads.

“You may be able to take a mortgage holiday to get you over the short-term uncertainty, or you could consider switching your mortgage repayments to interest-only. You could also consider taking a “premium holiday” and temporarily stop paying into any policies you may have.”

As well as saving money, you may discover you’re entitled to some, too. “You may have cover you’re not aware of. A lot of people do. Some mortgages have employment insurance that will cover your mortgage payments. It might also be a good time to look at any old policies you have and see if there’s anything you want to cash in.”

7 POLISH UP YOUR CV

DON’T write your CV immediately, as you’ll be feeling despondent and that will be reflected in your language. But once you’re feeling ready to face the job market, there are a few practical markers to follow.

“Write your CV in plain English and keep it simple,” says Lawrie. “No more than two pages. Let people know who you are, write a short personal profile and include only your recent work history. There’s no need to go back more than 10 years. Only include education if it’s important. And put in your contact details – you’d be amazed how many people forget that!”

8 START LOOKING FOR A NEW JOB

“WRITE to the organisations that you want to work for,” suggests Williams. “Once you’ve been through the mourning period you’ll have got your enthusiasm and drive back and that will be reflected in your approach. Not all jobs are advertised, so it’s worth approaching firms you’re interested in.”

Another option is to go through a recruitment agency. “Recruitment companies know their clients,” says Lawrie. “They have a relationship with them and know the culture of the company their recruiting for. That can be immensely beneficial.”

9 THINK LATERALLY

“THINK about transferable skills,” urges Lawrie. “I’m coming across a lot of people who, if they don’t think outside the box, won’t get another job because of the current professional climate.

“Try speaking to [recruitment] consultants and work out the things you enjoy, and what might work in a profession different from the one you’ve been in.

“A lot of people don’t realise they’ve got a lot of potential in other areas. They change jobs only because they’re promoted; it’s not a conscious effort. So think about what you’re best at and how you can exploit that.”

10 KEEP POSITIVE

“TRY and keep a positive mental attitude,” says Williams. “A job is not just a [way to get a] pay packet. Everyone has a calling. This is the opportunity to find yours, whatever it may be.”