Coping if the Great Resignation becomes the Great Redundancy

Over the last couple of years, much has been made of the ‘Great Resignation’ – how so many of us have taken the opportunity for a new start. In 2022, despite the sense that we are ‘post-COVID’, the mood has taken a downturn. Our spending power is dwindling rapidly. Industrial action seems to be on the agenda again. We seem to be on the brink of recession – having barely recovered from the last couple of years. Companies tend not to react so strategically in recessions – unemployment tends to be one of the results. Already, the more pessimistic commentators are actively forecasting the ’Great Redundancy’.

If we find change being forced upon us, that can hit us hard. Worse, if our way forward isn’t clear, we can become stuck and then begin to slip into a downward spiral of failing confidence, anxiety, inertia and disappointment (fuelling the loss of confidence…).

So how do we cope in volatile and tough times?

It makes sense to seize the initiative – update the CV,  brush up the transferable skills, be flexible, be ready to adapt. But if redundancy comes anyway, we can still respond positively. Three steps can help you cope and get back on track:

Reframing: there are two key actions here. 

• First, recognise that having a future denied you is a loss. So, start dealing with that loss – simply ignoring/suppressing those thoughts and feelings won’t help. Honestly, it really won’t.
• Second, even if it takes time to live with the fact, recognise that what’s done is done – you can’t control that. But you can control what you do to draw a line under this chapter. You can control the choice you make about what happens next.

Refocussing: uncomfortable as this moment may seem, it contains an opportunity for you. So, it’s important that you actively make the time to:

• Create a ‘things I actually want’ list for life/work in terms of activities, work environment, colleagues, work-life balance etc. In the flow of the day to day we can too easily lose track of what we really like and want to do; and of the kind of people we want to be with. This is a good time to remind ourselves what matters.
• Review your skills/competences. Have a proper stocktake, not least because there will be things you do well without realising it. A key step here is to untangle the skill/competence from the particular context you’ve been working in – ‘transferable’ skills are valuable to employers. But they’re only transferable once you start to see how you could use your skills/competences in other environments.
• Develop options for your future. There’s no getting away from the fact that the market is hard out there. So, it makes sense to have options to give you the best chance of success. In particular, maybe don’t use your current job description to find your next job. Instead, use your ‘things I actually want’ list to identify a number of work/life options that could meet your needs. Doing this will nudge the odds back in your favour – it might even open up a whole new path for you.
• Work out how you might make any of those options reality. What is the market like? Who can help you? Do you need other qualifications? Might you need to make other changes (eg relocation)? Building a sensible, flexible plan will help you be more realistic and more focussed as you seek your next role.

Repositioning:  wishing won’t cut it – you’re going to have to put the work in. In particular, you need to:

• Sort out any requirements you need to meet (eg qualifications or professional memberships).
• Redo the CV – and be ready to rework and tailor it for each application you make.
• Refresh your interview skills. These days, that also means practising a Zoom interview – the dynamics and interactions are different (both from an in-person interview and a vlog).
• Re-energise and redirect your networking.
• Put in place some support to help you keep at it.

Using the three Rs won’t guarantee that you’ll land your perfect next role.  But it will galvanise you. It will also help you gain more control over the situation. As a result, you will be better placed to cope during the transition period. Beyond this, you might even identify a better path for yourself than you ever expected. And if you want support for the journey, get in touch.

                                                                                     Photo by: Jake Ingle on unsplash