UK News

Insights from the UK and beyond

Expert view: Redundancy can be a “golden opportunity”

Photo

Sue Tumelty is Managing Director of employment law specialists The HR Dept. The opinions expressed are her own.

The latest Labour Market Outlook survey conducted for the Chartered Institute of Personnel and Development (CIPD) with the accountancy firm KPMG looks bleak. The Ipsos Mori poll of 892 UK employers in January, reveals that more than one in three (36%) plan to cut jobs in the first quarter of 2009.

What if you are a one in three? Regardless of whether you are a high earner or in a low paid job, the chances are that you’ll face the same question. How will you pay your mortgage and bills? How will you find another job?

As with any high stress situation, panic won’t help. Try to stay calm and make an effort to understand the process and the options open to you. For example, redundancy can be expensive and difficult for employers. Many are now looking favourably on innovative ideas in an attempt to retain their talent pool. This can range from shorter working hours, to unpaid sabbaticals and temporary pay cuts.

Out of work: Useful resources

Photo

Losing your job can come as a massive shock, even if it is something you have been worrying about for months. The latest figures show that for the first time in over a decade the number of people out of work has risen above two million.

If you are one of them, you probably want to find a new job as quickly as possible. Here are a number of useful resources to help you.

  •