Coping with redundancy in London

July 19, 2016 by Brendan O'Neill

Careers

Facing redundancy can be one of the toughest experiences you may ever have to cope with during your career. The experience can be especially difficult if you live in a large city, like London, where the cost of living is high. However, although you can never completely be prepared for being made redundant, you can take some steps to cope with its aftermath.

If you have reason to believe that you are facing redundancy, make sure that you are aware of all your rights. You will be entitled to sufficient notice from your employer, which will depend on the number of years you have been employed there. If you are entitled to receive redundancy pay, your employer should tell you how it’s been calculated. Once you know the amount you will receive, you can examine your finances, so that you know how long you can spend searching for new employment.

Although losing a job is tough for anyone, it can be a blessing in disguise and prove to be a positive step for your future career. Many people don’t leave a job to pursue their dream career, as they are worried about losing a salary. Once you have been made redundant, you have the time to consider a future career.

If you work in the financial sector, you may want to consider retraining as a mortgage adviser, which involves CeMAP training. This course will prepare you for work as an adviser, dealing with people who are looking for a mortgage. You will also learn how to deal with other aspects of the mortgage market.

Being made redundant could actually lead you to a fulfilling and rewarding career.