Many companies are feeling the pinch of tougher financial conditions which has led to numerous redundancies. Losing your job can be job devastating and can come as a complete shock. For an individual who suddenly finds themselves without employment, it can be a traumatizing, worrying and confusing time, however, there are ways to soften the blow.
Know your rights when being made redundant Employers are legally obliged to follow strict procedures when making redundancies. To make sure that the job losses are genuine and not just the company using it as an excuse to dismiss certain people, you need to know your rights:
● Your employers should ideally consult you about the redundancy, explaining why you have been selected.
● If you’re being made redundant, you are entitled to statutory redundancy pay. Some employers may offer a more generous redundancy package than the statutory reward.
What to remember when leaving your job
On your last day of the job, you should ensure you will receive the following:
● All the wages that you are entitled to, including any wages for periods of notice that you have not worked.
● All the holiday pay that is owed.
● A letter stating the date you have been made redundant from.
● Your P45 form. This is particularly important as it helps with issues such as tax rebates, pension issues and new job applications.
Planning your finances
If you are lucky enough to get a decent lump sum from your redundancy, it can be tempting to buy something extravagant or blow it on a holiday. However, unless you know there is another job around the corner, you need to be careful how you send it as you have no idea how long you’ll be out of work. To assist your financial situation, you can apply for a range of benefits. Contact your local job center for advice on which types of benefits you can claim. It’s also worth speaking to a tax office to see if you’re owed a tax rebate.
Finding your next job
As long as you have been employed for at least two years you should also be given time off during your notice period to look for a new job or to find a training scheme. Update your CV, refresh your interview techniques and start looking for jobs. A great place to start is looking for jobs is an online job board. Do not necessarily take the first job offer that comes along unless you’re sure that it’s the best option. Remember, stay positive and be sure to make a plan for your future and view it as an opportunity to move your career forward.
What did you think of this blog? Can you think of any other ways to cope with redundancy? Please leave your comments below.
This blog was written by Alex Cordwell on behalf of Empty Lemon the recruitment specialists.
Follow me on Twitter https://twitter.com/RecruiterCori
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