Redundancy

Redundancy is more and more common in today’s marketplace so, although it can be disheartening, it’s important to stay motivated and see it as a positive opportunity to look for the next step on your career ladder.

Try and think of the advantages:

  • You are immediately available for interviews and work, making you more marketable
  • Your next role may be more rewarding in terms of salary or career prospects
  • You can look for the job you have always wanted
  • You can take advantage of the spare time by doing things you’ve never had time for before

Your entitlement

You can expect to receive a redundancy payment if you are working as an employee under a contract of employment, and have at least two years continuous service since the age of 18.

If you want to check your legal rights, members receive free legal advice as part of their membership, visit their site for more information.

Your CV

The style and content of your CV is a matter of individual choice, but it’s important to follow certain guidelines. Your CV should be concise, accurate and well laid out, and tailored to the position and company to which you are applying. And beware, CVs can also convey unintended information about the author, such as a lack of attention to detail if they are unclear or full of spelling mistakes.

For more information on your CV and assistance with it, please visit the career and professional development centre. The centre also lists a variety of fact sheets which may help you in coping and moving on to a new role.

Transferable skills

Transferable skills are those you have developed in one role and which may be applied to another. For example, skills used by an account manager in a marketing agency in the areas of design and production could easily be transferred to a design/production management role in a client-side company.

First, work out the skills you used in your current or previous employment, then analyse how they can be applied to a new role. This will help you identify new opportunities and demonstrate your versatility.

Interviews

When attending interviews remember that redundancy is not the stigma it once may have been. When asked about it, briefly detail the company’s reasons behind the redundancy, then move on to how the situation could benefit the potential employer.

For more information about preparing for an interview, see the Researching employers link.

Networking

The importance of networking cannot be overestimated. It is often the people you meet in your business life who help you further your career and even secure your next role.

The key to success is to use your available resources to market yourself and try to uncover hidden job opportunities. This can give you a real advantage over other candidates.

Networking to new contacts is also key to a successful job search. Source the names of recruiters and visit trade shows with your CV, as you may meet key contacts on the stand.

For information on local and regional events, see the events pages.

Related websites

The Institute is not responsible for external internet sites.