How to Bounce Back After Redundancy
The coronavirus crisis has led to more uncertainty than ever. Especially for Millennials.
Graduate roles are being curtailed, universities are struggling to teach students face-to-face, and travel opportunities are limited.
The world has shrunk when globalization has taught us that the world is more accessible than ever. ?
We are all confused and worried about our futures.
You’d think that the burden of Covid-19 is shared among all demographics of society, but job losses are worst among the Millennial demographic.
The hospitality and retail sectors, which are the hardest hit, tend to employ many people under 30s.
As unemployment rises in those under the 30s, redundancies will begin to hit, whether you are a barista or a graduate manager in a large FTSE 100 company.
Here is advice on how to keep a positive mindset during redundancy and transform your life for the better:
1. Don’t take redundancy personally
Losing your job at a young age can sap your confidence.
Even if you rationalize your job loss and you know that it is purely a business decision to help a company survive the pandemic, you can’t help but feel concerned that this is a sleight on your skills as a professional.
The truth is:
Being made redundant is nothing to feel ashamed of!
The trick here is to frame it in a positive light:
Instead of saying “I’ve been made redundant”, you can think of it “The organisation has made these changes”.
In most cases, it is the companies that are making redundancies right across the organisation and it’s not the individual that’s been singled out and being made redundant.
It’s due to financial reasons, or restructure, or economy – nothing of which is in your control.
Redundancy may feel personal when it happens to you individually, but in reality, someone somewhere on the company board made a high-level decision to save money.
Redundancy doesn’t make you any worse professional than you were before it happened.
2. Don’t deal with money worries on your own, ask for help
Money is probably the first worry you will have during redundancy.
And it’s a normal feeling – after all, that regular wage heading into your account every month is now gone.
How are you going to pay your rent or your bills?
You need to come up with a plan to help give you a financial cushion.
Call your friends and see if you sofa surf for a little while or move back in with your parents.
While not ideal, this won’t be a permanent solution, but it will give you the opportunity to relinquish your rental burden to save some cash.
Remember, this is only a temporary situation that you will work your way out of.
Being frugal for a few months will make you a stronger and more resilient person once you find yourself financially buoyant again.
3. Put your mental health first
When you lose your job, your mental health will naturally suffer.
This can heighten your levels of anxiety and lead to poor mental well being.
If you feel like your mental health is waning, see a GP, and discuss your worries.
If you don’t have a GP, register with a surgery that utilises the latest electronic medical records software, as described at https://www.intellectsoft.net/blog/electronic-medical-records-software-solutions/.
Doing this will ensure that you can make appointments remotely, your records can be accessed speedily, and you will receive the treatment you require without any hold-ups.
You can also speak to your employer and ask if there is any coaching or counselling support available.
Coaching or counseling support is usually paid for by the organisation.
Additionally, most local services will provide free government support for career advice and counselling.
4. Invest in yourself, start a side project
Your anxieties and worries can morph into something more exciting and positive.
Redundancy can be a perfect time to slow down and ask yourself: What do I want to do with my life?
Rather than dwell on the past, you can see redundancy as an opportunity to reset and start your own venture.
Use this time to invest in yourself.
If you have a passion for baking, making jewellery, or designing custom T-shirts, consider setting up your own business.
Millennials all over the world are reconsidering their priorities after something so transformative has devoured the globe.
5. Stay positive and motivated
Let go of things you can’t control and concentrate only on the things you can control.
This may be:
☕️ Keep your morning routine.
☕️ Set yourself goals and a plan to get the job you want
☕️ Write a list of positive statements about yourself.
I write positive things about myself down for 2 reasons.
First, I do it so that I can look at the list every morning to reinforce my positive mindset.
Second, I want to read the statements at times when I feel negative, to turn myself around, and focus once again.
You can retrain your brain to create more positive thought patterns ?
6. Contact your network and people that inspire you
Create a spreadsheet of all your professional and personal contacts who could potentially help you.
You can then send out emails and arrange calls to let them know you are looking for work.
Someone else has probably gone through a similar experience like you and may able to offer either emotional or professional support.
You can also seek out mentors – you’d be surprised how many people want to pass on their knowledge and help someone without necessarily wanting anything in return.