A Guide for Those Affected by Tech (and any other) Layoffs and Redundancy
Following on from my previous post about recruitment teams being one of the first to go and having acknowledged the devastation across the entire tech industry right now, I wanted to pull a few ideas together which hopefully could be helpful if you, or someone you know, is effected by redundancy.
I’ve worked in recruitment for a long time and seen first hand the devastation and issues of losing (or the potential of losing) your job. I've supported many candidates through similar journeys. I wanted to share some tips based on my personal experience and from having the opportunity to help other people navigate these stressful events.
- Give yourself time to process: It's natural to feel shocked, angry, confused or sad, as well as many other emotions. Give yourself some time to process these emotions before you dive into job hunting. Don’t just panic and start applying for roles, take time to reflect and collect your thoughts, even for a day or two.
- Consultation period: Redundancy comes with a consultation period, make the most of this time by asking questions about your severance package, references and any outplacement support your company may offer. This also gives you time to start thinking about the next step on your career journey, without utter panic.
- Update your CV & professional socials: Take a fresh look at your CV and LinkedIn profile. Is it up to date? Does it paint your experience and work history in the best light? Does it highlight your most relevant skills and accomplishments, projects, tangible wins and competitive advantage (where you saved money, designed something noteworthy, impacted client or customer in an extreme way etc.) Bring this out! Don't forget to tailor your CV as you apply to different roles, you can have a baseline template but look at the job advert / description and cross reference the skills the company is looking for and ensure they are noted on your CV, for impact add in a short back up statement to some of the requirements to showcase your results and achievements.
Job Spec: Experience of developing business in a highly competitive market.
Your CV: I increased market share by 25% and delivered £1.5m in revenue by growing existing client accounts, re-igniting historic relationships and leveraging my well developed industry network.
- Reconnect with your network: Reach out to previous colleagues and managers for advice and solicit potential opportunities. They might have valuable insights or leads for you to explore.
- Consider temporary or contract work: This can help you stay afloat financially and maintain your skills while you search for a more permanent position. Reach out to specialist agencies who work in the industry and let them know your situation and that you’re considering this type of assignment as a potential stop gap. They could also support with your job search for longer term or permanent roles. Despite some of the bad press we see around agencies, there are some brilliant agencies out there.
- Retrain and upskill: Use this time to acquire new skills or certifications that can make you more attractive to potential employers. Is there a course or qualification you have always wanted to get but put it off as you never had the time? Now’s the time if it could offer any advantage in your chances of getting a new role or give you some self-satisfaction you have achieved a certain thing that you’ve always procrastinated over.
- Take a break, if you can: If you have some savings, consider taking a short break to recharge your batteries, gather perspective and reflect before diving into your job search. This can help you maintain a positive mindset during this challenging time.
Seeking Advice and Support
- Career Coaches: Think about a small investment in armouring yourself with some strong tools that will impact you beyond job interviews. Career coaches can provide guidance on how to get your search started constructively, help you set goals, stand out through your CV, refine your job search strategies, interview coaching, mastering mindset for job hunting or interviews. Much of their support and coaching goes far beyond getting a new job.
- Mindset: I mentioned this above, I believe mindset is powerful. When you find yourself in a redundancy situation work on keeping a positive attitude and avoid falling into a black hole of negativity and anxiety. Believe in your abilities and know that you'll find the right opportunity eventually. If you don’t already, give meditation a try (and persevere) or listen to or read books that inspire & motivate you, need tips – message me.
Staying Active and Connected
- Keep busy: Don’t get trapped in self pity or dwell, just know things will work out. You’re making all this effort to find a new role, it will happen. Take your mind off the stress of redundancy and that new job hunt and engage in hobbies, do some exercise or volunteer work to maintain your mental health and keep your spirits up.
- Communicate with friends and family: Share your feelings with your support system and don't hesitate to lean on them for encouragement and advice. People do care, many people will be able to resonate and empathise having been in a similar position before, don’t bottle up the stress or pressure.
- Use the company benefits whilst you can: Does your current employer have an Employee Assistance program (EAP)? These are massively beneficial services, independent of your employer and offer support for situations just like these ones. Most include the opportunity to talk to professional councillors as well as seek advice on money matter, legal issues, stress & mental health etc. I would encourage you to find the details and use the EAP for support and help.
- Reach out to Non-Profit organisations who specialise in redundancy: There are specialists who are there to help and support you through this period. They can help you with all matters around leaving your current job and what you are entitled to (and not), Government benefits and how they work/how to apply, budgeting and debt support and career advice.
GOV.UK – Redundancy Support
Advice and support on statutory rights, finding work, redundancy pay, benefits.
An independent public body used by many organisations and employees to help with employee relations, legalities of employment etc. More about your rights and you can see the guidance ACAS would offer to your employer, you can see what your company is being advised to do (best practice).
Mental health and wellbeing, finding new work, money worries.
Partnership Action for Continuing Employment, Scottish Government support service supporting skills development and employability support.
Careers advice, guidance on training and upskilling .
Dealing with redundancy is undoubtedly exhausting and stressful, the overwhelm can be torture and you can quickly spiral into self doubt, anxiety and low moods. However, with a positive mindset and the right strategies, you can turn this challenging period into an opportunity for personal growth and career development.
I hope the advice above can be a starting point for you or someone you know and remember that you're not alone in this journey. Many people have faced similar situations and come out stronger on the other side. Stay persistent and don't lose hope.
Stay positive, stay focused and believe in yourself—you've got this!
Good luck and feel free to reach out if you have any questions or need further advice, I will help as much and as many as I can.
If you liked these tips please like, share & comment so others in your network can benefit from them too.
Business Director - Executive Search
1yGreat article Dave Bell - fantastic advice for those in need of it.
Be Good Do Good🌼If there is anything you can be in this world- choose Kindness🙏🏼 Be your authentic self 247
1yThis is awesome stuff! thank you
Confidence and Mindset Coach | Career Success | Workplace Empowerment | Interview Skills | Creator of Sparkle Transformational Card Deck | Co-author of Unstoppable Stories
1yFantastic article Dave and great tips for people who find themselves in this situation!👏🏻