| The effects of redundancy are far reaching. When | | | | off it's time to take action. The act of doing |
| an employer decides to lay off staff the impact of | | | | something about your situation will help to restore |
| the blow ripples out and touches not just the | | | | confidence and it will make you feel that you're still in |
| employee but also family, friends and communities. | | | | control of your life. Your first task will be to review |
| How it might affect you depends largely on your | | | | your finances and take stock of what assets and |
| own frame of mind, your resources and your support | | | | responsibilities you have. If you don't have assets or |
| network. You can take control of the situation by | | | | other income to cover the cost of your outgoings |
| having a plan of action and in this article we're going | | | | then see if there are any areas in which you can |
| to explore some of the elements that you might | | | | economize. Your home is the most important thing so |
| include in such a plan. | | | | your rent or mortgage payments must be met, but |
| Be Prepared | | | | do you really need that TV subscription service, or |
| If you're gainfully employed wit no imminent threat | | | | those magazines? |
| of redundancy you might be wondering why you | | | | If you think that you won't be able to meet all your |
| should be reading this article, but as the recent | | | | financial obligations then contact those which you |
| recession has reminded us even the largest and most | | | | won't be able to pay and inform them of the |
| powerful companies are not immune to the economic | | | | situation. Show that you take your situation seriously, |
| forces and the financial winds of change that blow | | | | that you want to meet your obligations, but you |
| through our economies from time to time. What | | | | need time. Most companies will help you by offering |
| would you do if you were told that your services | | | | an extended payment plan which will lessen the |
| were not longer required? | | | | monthly payments. It's far better to keep people |
| You can offset the impact of redundancy by having | | | | informed and show willing rather than ignore the |
| some kind of contingency plan. For some this might | | | | letters and reminders. You have to face up to the |
| include taking out insurance against loss of earnings, | | | | situation and the longer you leave it, the worse it will |
| but most of us are reluctant to pay out every | | | | become, so tear open those brown envelopes and |
| month when we live hand to mouth, spending almost | | | | start calling the senders asking for more time to pay. |
| every penny we earn. Besides, how good is the | | | | Ask For Help |
| policy? If you opt for this route check the small print | | | | Pride is a double edged sword. Taking pride in our |
| and make sure that you will indeed receive what you | | | | achievements and identities is harmless if not healthy, |
| think you'll be getting if the worst comes to the | | | | but if our pride prevents us from asking for help |
| worst. | | | | when we need it then it becomes a handicap. For |
| Instead of a financial insurance policy you could | | | | example, some people cannot face the prospect of |
| consider what other skills and abilities you have. A | | | | claiming unemployment benefit or social welfare |
| little effort now and again to maintain these skills and | | | | payments. It's understandable given the impersonal |
| to keep them fresh could mean that you have them | | | | and depressing process that needs to be followed in |
| at your disposal if you find yourself out of work. This | | | | order to qualify for payments, but remember it's |
| could be anything from maintain your HGV (Heavy | | | | your money. As a tax payer who has paid the State |
| Goods Vehicle) license, brushing up on a foreign | | | | both Income Tax and National Insurance |
| language, adding to your IT skills, or many other | | | | Contributions every month while in employment you |
| abilities that cost little to gain and which could act as | | | | are perfectly entitled to ask for some of that money |
| your fallback policy if your current employer shows | | | | back - it's your money! The trick is to accept that it's |
| you the door. Adult education and evening classes | | | | probably not going to be a pleasant experience but |
| are a great way to expand your knowledge and skill | | | | as with any dirty job the sooner you roll up your |
| set. | | | | sleeves and get it on with it the sooner it will be |
| Keep your CV (Resume) up to date and ready for | | | | done and put behind you. |
| use at all times as you never know when you might | | | | Debt counseling services are another place to look |
| need it. The effort of updating it when you're feeling | | | | for support if the financial going gets tough. They |
| low having been told your services are no longer | | | | have plenty of advice, freely given, for those having |
| required will be even greater, so having it ready for | | | | difficulty meeting their commitments. They don't |
| use on that fateful day will save you time and effort. | | | | judge or patronize, and they look for answers that |
| Keep track of your financial outgoings using a simple | | | | are of genuine help in finding a way out your own |
| spreadsheet so that you can see at a glance who | | | | financial maze. |
| you have to pay, when, and how much. A household | | | | Keep fit and stay healthy by eating a balanced diet |
| budget plan is a good thing to maintain whether | | | | and taking light exercise a few times a week. Don't |
| you're in or out of work. | | | | mope about the house. Instead, take a walk in the |
| Bad News | | | | fresh air, in the local park, or about town. This will |
| It stands to reason that the impact of being handed | | | | help to lift your mood on some of those grey days |
| notice of redundancy will be proportional to one's | | | | when the gloom descends. Stay in touch with friends |
| financial, emotional, and mental status. For most it is | | | | and keep yourself busy by visiting free resources like |
| time of stress and anxiety that's up there with | | | | your local library. Your community may have more to |
| divorce, bereavement, and serious illness. It takes | | | | offer than you realized while you were in work and |
| time to absorb the shock as it shakes you, your life, | | | | without the time nor the inclination to find out. |
| and the lives of those who depend on you. For many | | | | Consider offering your services free of charge as a |
| of us our occupations define who we are so | | | | voluntary worker as this will make a positive |
| redundancy can seem like the loss of part of our | | | | impression on anyone considering you as a new |
| identity. Our jobs are also tied in with our social | | | | employee. |
| network and being made losing them can remove us | | | | Redundancy needn't be disastrous and you can |
| from our network or break the network up. | | | | lessen its impact by being prepared and putting your |
| Take Action | | | | emergency plan into action if the day ever comes. |
| Once you've overcome the initial shock of being laid | | | | |