First things first, there is no stigma attached to redundancy. In today’s’ job market redundancy is a fact of life. People can still find their jobs redundant during boom times or even when their employer is extremely profitable. Whatever the situation, there are three things you must do before you begin your job search.
Even in good times you should allow up to 3 months to secure another job. In a recession you should at least plan for it to take 6 or 9 months. It may even take you a year.
Study your household income together with your savings and estimate, on your current level of expenditure, how long you could go with out regular earned income coming in. Now look at areas of expenditure that could be deemed as unnecessary and remove them. How long could you last now?
This will allow you to plan your job search effectively and know at what time you must start to consider alternative options.
What are you going to do with all your new found time? Decide quickly or others will decide for you!
Conducting your job search in a recession is a full time job in itself and requires dedication and commitment. Set certain times of the day aside to focus on different aspects of your job search.
Establishing a daily routine quickly will help you get back to work fast and prevent you from becoming an expert on daytime TV!
The support of those people important in your life is a critical part of your job search. Remember, they too are worried about what the future holds and you need to reassure them that you have a plan!
Discuss the findings of your financial review with them and ask for their input. Show them your daily routine and explain to them that at certain times of the day you will be purely focussed upon your job search and that at other times you will be free to help around the house, with the children or other responsibilities that previously your job has prevented you from assisting with.
With a clear understanding of your financial situation, a productive daily routine and the support of your loved ones you are now ready to commence a truly effective job search.