Handling Redundancy in London During COVID-19
There is no escaping the fact that we are now transitioning from the government-backed furlough scheme to the reality of redundancies throughout London and the wider UK: British Airways, the BBC, Marks and Spencer, Arup, OVO Energy, BP, Rolls Royce, HSBC, Accenture, The Restaurant Group, John Lewis, Boots and Burger King are just some of the household names to have announced thousands of cuts over the last few weeks.
So how can you, as an employee, respond to this reality? Here are our suggestions on how you can handle redundancy.
It’s Not You
This is a stressful time for anyone who has been, or fears being made redundant. It is completely understandable that confidence and self-esteem are affected by redundancy. But hang on a minute, just because the Company you work(ed) for was one that was caught in the eye of the COVID-19 storm, this doesn’t mean that you were doing a bad job. Fate and Luck have more than played their parts. Had you been working for another organisation in a different sector things could have been very different. Yes – you’ve been unlucky, but don’t blame yourself, and do not lose confidence. This was out of your control. And while we’re at it…
Stigma, What Stigma?
If you have been made redundant, welcome to the next normal. You’re in the same boat as a lot of other people and few, if any, employers are going to ask you in your next interview, “What was your reason for leaving?” Or “Why were you made redundant?”. These aren’t normal times, so your “jumpy CV” or “reason for leaving” will not be at issue.
Have a Look At Your Finances
It’s time to draw up a budget. In June it was reported that the UK consumer had paid off an eye-boggling £7.4 billion in credit card and loan debt. Having been unlikely to, or unable to spend money on discretionary items since March of this year, it is likely that you have either paid off some debt and / or may have saved more than you might have done in the past. Perfectly timed! Because now the rainy day has arrived, it’s time to put up that umbrella you didn’t think you’d need, but saved for just in case. Drawing up a budget will help reduce the financial pressure and give you a sense of control around the upcoming weeks of living in London.
If your company has engaged an Outplacement Services company, make the most of them. They are there to provide expert career guidance and support, as well as giving you a place where you can talk through your concerns. Moving forward with confidence can be challenging, but is not impossible.
These can be a great source of support to you, from discussing what you want next in your career (and what is achievable at the moment); assisting you in up-skilling to make yourself more attractive in the marketplace; how best to approach your job search; how to write a quality CV; and putting together a plan to move forward in your job search.
Very few, if any of us, welcome redundancy. Acknowledge and process the inevitable emotions that accompany what at the time can feel devastating. But also know that things will improve, economic cycles have fallen and risen in the past, and will do so again in London. There are free professional and emotional support networks out there. You are not the only one, and it certainly isn’t your fault. You will be able to move your mind, and in time your career, to a better place. Below are some useful links for you to help navigate the journey:
Gov.UK Redundancy – Your rights
Citizens Advice Preparing for after Redundancy
If you are a candidate looking for your next temporary or permanent office support role in London, contact our team so we can help you with your search email@example.com
Take care, stay safe and stay positive and we hope to see you soon!
Australasian Recruitment Company