Surviving redundancy

Surviving redundancy

“It’s not you, it’s me…”

So you’ve just lost your marketing job. Whether it was your perfect position or just a way to pay the bills until the right opportunity came along, it still hurts to be dumped.

It could damage you financially, unless you’re lucky enough or have the right connections to hook another job during your notice period.

Science says that it could damage you psychologically as well. A study of nearly 7,000 UK adults, conducted by the University of Manchester, showed that people were 4.5% less likely to express feelings of trust – 17 years after being made redundant. The figure was even more pronounced for those who put a lot of personal emphasis on their career.

Losing your job definitely hurts, but that isn’t the whole story. There are actually some good reasons to be optimistic in the long term.

  1. The job market is healthier than it used to be. If you were last sending out applications three or four years ago, the number of exciting opportunities available today might come as a surprise. The Office for National Statistics found that more than 700,000 positions were available in the UK in January 2015 – the highest level for 14 years.
  2. Redundancy is the perfect time to reflect on your career. How often do you take the time to do that? When you’re employed it’s easy to just drift. Unemployment is an opportunity to break out of old habits and find a new direction.
  3. Discover your own value. Building a new CV can be a positive process as you discover just how much you have learned over the years and the types of skills you now have to interest a potential employer.
  4. Remember that most successful people have experienced similar setbacks. When Harry Potter creator JK Rowling was fired, she used the opportunity to do what she really loved: writing. Michael Bloomberg used his severance pay to found a business empire.
  5. There’s never been a better time to go it alone. Depending on your skill set, you might want to try freelancing, either as a stopgap measure or as a long-term career shift. Advantages can include higher pay and greater flexibility. A staggering 34% of the American workforce are already doing it – why not you?

Looking for your next marketing challenge? Then sign up to CIM Jobs, our official marketing jobs site, where you can gain access to a wide range of marketing jobs across a full range of sectors and disciplines.

Thomas Brown Former Director, Strategy and Marketing CIM
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