How to use your redundancy to upgrade your career
Photo by Isabela Drasovean on Unsplash
You know that losing your job through a company restructure or a business going into administration isn’t personal so why does it feel that way?
Rationally you know job losses are inevitable but emotionally it hurts. It feels like a rejection. Maybe you weren’t good enough?
That feeling can gnaw away at your confidence and mess up your job search. I’ve seen it in action.
Working in executive search, I’ve interviewed more than my fair share of people who’ve been through it. I can hear the change in tempo and the emotion in their voice. Some speed-up hoping I won’t notice, others slow down to brace themselves. Invariably they’ll over-explain and tie themselves up in knots.
Sounds like a small thing, feels like a big thing. And it can get in the way of your success. Redundancy feels personal because it's a decision that’s been made for you and not by you.
In this post, I’m going to share a formula that will help you to reframe your redundancy so you can use it to upgrade your career. But first, let’s get real.
Redundancy – a rollercoaster of emotions
Warning! There is an emotional rollercoaster ahead of you. Job searching has its highs and lows. If you’ve started looking, you probably already know.
The highs of new leads and opportunities. Being shortlisted for roles. And the lows when your leads dry up. When you mess up an interview and those ‘thank you, but no thank you' replies.
Some days you'll feel anxious and fret about the future but on a good day, you feel hopeful and excited about a fresh start.
It’s not an easy journey – prepare for the full spectrum of feelings and accept that there is comfort in chocolate and Netflix.
These feelings and waves of emotion are common and 100% normal. Don’t for one minute think that others are taking it in their stride!
Redundancy – an opportunity to pause
Give yourself time.
Once you’re over the initial shock, try reframing how you feel about losing your job.
It may seem like a massive inconvenience right now but this could be a powerful opportunity to pause and take stock. If you’ve been pedalling hard for 20 odd years, then taking a breather, getting your life back, reflecting and recalibrating could be a good thing.
And job searching when you're stressed out is only a recipe for disaster. You can think more creatively and make better decisions if you slow down and pause.
How long you take is entirely up to you but allow the redundancy pause to nourish and fortify you and your career.
Job hunting in a post-pandemic market
When you’re ready to start your job search campaign, get clear on your priorities.
Senior leaders are taking culture-fit and leadership more seriously than ever. When they’re on the hunt for their next role they don’t want to jump from the frying pan into the fire.
What’s important to you?
At times it will feel like there aren’t many jobs and it’s a crowded market. But as a headhunter, I can tell you – finding the best candidates is a bit like looking for a needle in a haystack.
It can take six months or more to land a senior-level role. And there will be peaks and troughs ahead to navigate.
Get yourself a coach
If you haven’t done so already – get yourself a coach.
Some companies provide outplacement support as part of the redundancy package.
The consultant you work with will help you to update your CV and LinkedIn profile, help with your interview technique and introduce you to ‘hidden job boards’. This usually means that they’ll send your CV to search firms for roles that aren’t in the public domain. But as you know there are no guarantees – the best candidate will win.
A few years ago, I commissioned a piece of research into the outplacement industry. You can read it here:
Would you pay someone to help you find a job?
Career coaching – an unconventional approach
It’s great to know that your CV looks good and you can rock a ‘mock’ interview but headhunters and company decision-makers are looking for more than that. It’s all about culture fit, credibility, and you having inner-confidence.
Invariably you’ll need guidance on creative strategy, how to get leads, how to position and sell yourself, and how to invigorate a search when you’ve run out of leads. Look for that experience in a coach.
Summary: How to use your redundancy to upgrade your career
Try this formula to rethink your redundancy and upgrade your career:
PAUSE; think of this as a well-earned career break
REFLECT; over your career personal highlights and achievements
YOU; ponder over your values, what you stand for and what you want to do more of
CLEAR; get clarity on the type of company culture and leadership style where you thrive
INVEST in yourself and your career to get the support you need to manage the journey
CONFIDENCE; Work on your positioning and confidence. Expand your horizons and boost your earning potential
Use this time to give your career an overhaul, polishing up your CV and working on your interview skills (which are most likely rusty) also to get clarity on what you want from your career and next steps.
Read more:
The career accelerator – will it work for me?
What to do if you’re searching for a new job and you’ve run out of leads
Self-worth, leadership and your career
ABOUT ME
I’m Tracy, Career Consultant, former Executive Headhunter and I help senior executives and leaders to land great jobs and be successful at work through 1:1 coaching.
I work with clients around the world from my London-based Zoom office.
If you’re ready for straight-talk and career guidance get in touch – let's start the conversation.
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