It’s no secret that redundancies have been occurring across tech, retail and e-commerce recently – see Catch, Milkrun and The Iconic. Unfortunately, this is nothing new. More than one in four Australians (26 per cent) have had their role made redundant at some point in their working lives. Various reasons for this can be cited, including concerns about the economic outlook, shifts in business priorities and the need to reduce ongoing costs. But being made redundant is not a reflection of you
It’s no secret that redundancies have been occurring across tech, retail and e-commerce recently – see Catch, Milkrun and The Iconic. Unfortunately, this is nothing new. More than one in four Australians (26 per cent) have had their role made redundant at some point in their working lives.Various reasons for this can be cited, including concerns about the economic outlook, shifts in business priorities and the need to reduce ongoing costs. But being made redundant is not a reflection of your capability, and it’s important for your mindset that you remember this.So, what do you do if you find yourself in this situation?Brush up your LinkedIn profileLinkedIn is a powerful tool that you should leverage in your job search so that recruiters or prospective employers can find you. Recruiters have access to LinkedIn Recruiter, which you can think of as a moredetailed search option than the general platform. Here, recruiters can create a talent pool and build out searches using filters like ‘open to work’, role title, companies, industries, and even how recently someone joined LinkedIn. Recruiters can also access settings that notify them when someone turns on their ‘open to work’ status. By activating this and stipulating the role titles of interest to you, you’ll enable recruiters to reach out to you directly. Make sure you think of all titles that your role could fall under and list them in this area, such as chief financial officer, finance director and so on.LinkedIn is keyword-driven, so if there are certain acronyms that are specific to your role or sector, make sure you include them in your profile. Ensure you have listed any systems you’ve worked on in the skills section. You may also want to include this information in your ‘about’ section so that recruiters are more likely to see your profile if they are seeking someone with specific experience.Leverage your networkThroughout your career, you’ve built many industry contacts – but where are they now? Again, LinkedIn can be an excellent resource, for tracking down previous colleagues to see where they are working now. These people can be your greatest advocates, and can refer you to roles within their current organisation or provide insight into roles in the market.Tapping into your network will give you access to a hidden job market, as some roles aren’t advertised due to confidentiality. In some cases, a company may even decide to create a role based on seeing thevalue someone like you can bring.You may also want to connect with recruiters who specialise in your sector.Access other resourcesProject Displaced is a not-for-profit organisation that was set up during Covid-19 to support those who suddenly lost their jobs and needed qualified professionals to assist them in navigating their jobsearch.The organisation offers free career coaching, CV writing tips, job interview preparation, LinkedIn profile advice and more. It’s worth checking out Project Displaced to see what support it can offer.Some employers will offer outplacement services directly to people they have made redundant, or you can ask if they’d be open to facilitating this for you. These services also help with CV creation, careerdirection and the recruitment process.You can also look into whether there are any industry events coming up that could be a good networking opportunity. For instance, Online Retailer is taking place in Sydney this July, and will host various speakers and exhibitors.Keep track of where you’ve applied and be sure to follow up on your applications. Being proactive is key.Sell your skillsIf you have been made redundant, make sure you have a support network in place – like family, friends,colleagues, to help shape a more positive mindset. There are likely to be some challenging times throughout this process, so now is the time to be open-minded and think ‘outside the box’. Consider different types of roles, industries and career paths. Many skills are transferable – even to roles you haven’t performed.Finally, treat finding your next role as a job. It will take focus and dedication and it will potentially test your resilience, but know that it’s still considered a candidate-tight market and your next opportunity is out there. You may just need to be more proactive to find that dream role.A note for employersIf you find yourself having to make employees redundant, please do so in a considered manner. This may be a significant shock, and it’s important to treat employees with respect and kindness. You may want to consider offering them support structures, such as outplacement services, which provide career coaches.Of course, it is important to ensure you’ve followed legal compliance throughout this process; therefore, be informed of relevant employment law and company policies prior to formalising a redundancy.This story first appeared in the May 2023 issue of Inside Retail Australia Magazine.