Top Tips on Viewing Redundancy as an Opportunity

Being made redundant can come as a shock to the system but need not necessarily be a precursor to a bout of depression. It can be a time for taking stock and making the most of an opportunity to change certain aspects of your life.

The following lists a number of ways you can stay positive and look at redundancy as a real opportunity:-

1. Emotions. There are a number of emotional reactions to redundancy that are normal and predictable. They are akin to experiencing the loss of a loved one and include shock, guilt, anger and loneliness. Not pretty but inevitable so accept that they come with the ride and are a necessary part of getting through this period.

2. Positives. Make a list of all the positives which come out of being made redundant. Some are more obvious than others so start your list and keep adding to it each day. And if you run out of ideas, you can either ask those close to you what benefits THEY have had from you being made redundant (eg kids enjoy spending more time with you) and/or ask others who have been made redundant what positives they found.

3. Budget. Spend some time reviewing your budget and if you don’t already work to one, now is a good time to do this! Here is a link to a good starting point – http://tinyurl.com/y8csho8. Also useful for money saving tips.

4. Increase income. As well as looking at ways of reducing spending, a budget can also be about ways of increasing income. A brainstorming session with all household or family members could throw up some useful ideas. Obvious examples might be sell unwanted items on eBay or applying for a tax rebate but you could also think about selling the car, renting a room, renting out your house and moving to a smaller rented place. Getting the whole family involved in the process from the start will mean they ‘buy in’ to ideas which might mean a hardship for them.

5. Legal advice. Ensure you get good legal advice, if for no other reason than it will make you feel more positive if you know you are doing everything you can to ensure you receive what you are entitled to.

When you have been made redundant, it is very easy to let depression take over. However, if you take time to review your options and understand that some negative emotions are a necessary part of the process, you will give yourself the best chance of turning this in to a positive experience.

How can you make the most of this opportunity?