How to cope with redundancy

Everywhere you look it is doom and gloom with comments cropping up everywhere that (insert whatever percentage you want) will be made redundant within 20 years.

It's enough to make you panic don't you think?  Oh no, what ever will I do if I'm made redundant? 

There are really only a few things you can do when you're made redundant.

Firstly, regardless of whatever day of the week it is that you're made redundant, try to deal with the shock as fast as possible.  It's never going to be nice being made redundant but sitting around in shock isn't going to help you now.  Doing nothing because of the shock will only make things worse because you won't be productive.

Instead what you need to do is plan your next move.

If you had a lot of money you wouldn't be working so it goes without saying that you need to pick up a job YESTERDAY, BEFORE you were made redundant, but it's not an ideal world so that didn't of course happen.

Instead you were made redundant and now you're probably worried about money.

Look at your skills.  What can you do?  What are you good at?  What are your strengths? 

Try and generate an income based on what those skills are.  If you love the field you were in and would still be in the job you were in then try and get a replacement job ASAP.

If you're in an industry that's suffering look at if you can transfer those skills to another field for example, if you're in Journalism then look at Public Relations.  Look at your options.  Look at what you can offer employers.

Of course, employment and recruitment can take at least four weeks. 

If you feel like it was a blessing in disguise look at freelancing.  See what casual, short term or contract work there is available.  Look to use your network.  Take it as an opportunity.  Many newspapers such as the Sydney Morning Herald report that people are actually ditching the 9-5 and opting to freelance instead.  That may be your best bet and then you have the flexibility to write about whatever you want.  You could one day be covering a hot new suburb and the next covering a rugby or cricket match or even a concert.  The world is your oyster if you're a writer/journalist.

When many people are made redundant they decide that the field they were in isn't actually what they're truly passionate about, so if you have some room to move financially take some time out and don't make any hasty decisions.  Consider what it is that you want to do and pursue that.  You have nothing holding you back and nothing to lose so why not do what you've always wanted to do?  Why not pursue your dreams?

Being made redundant sucks and it's been reported that the average Australian will be made redundant at least once in their life.

Although redundancy isn't always avoidable, and does sometimes come as a shock you can certainly prepare for it in the future.   When you have another job you can start saving money.   If you have any inlking that the company you work for is in trouble, take out redundancy insurance as most insurance policies will only pay out once you have had the policy for six months.  You can take our redundancy insurance either own its own or as an add on of income protection insurance policies.

Redundancy doesn't have to be doom and gloom and it really can be an opportunity to do what you really love.