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Redundancy advice

Being made redundant can have a big effect on your mental and physical wellbeing. With the right support from this guide, you’ll be better placed to manage the impact and start to move on.

Managing wellbeing through redundancy

Explore the basics of redundancy, why it happens and what you may be entitled to if it happens to you.

Redundancy happens when a business reduces the size of its workforce because it needs less employees. ‘Being made redundant’ describes a situation where someone’s employment is brought to an end.

Redundancy can be upsetting and confusing. Simply knowing what to expect can have a calming effect, helping you to move forward. This includes understanding your legal rights:

  • Visit GOV.UK for information on your redundancy rights, or if your employer is unable to pay their debts
  • Visit ACAS for information on employer’s responsibilities

The Bank Workers Charity provided excellent customer service and support. A truly exemplary service.

– from our client

Steps to stay ahead

Follow the steps below to help manage your wellbeing through a redundancy process, and start moving forward.

Losing a job is something we’re never truly prepared for. Just know that it isn’t your fault and can happen to anyone. Take these small steps to reflect on your great work, the impact of your contributions, and reward yourself for all that you’ve done:

  • Make a note of your proudest professional achievements, and things you’re appreciative of in your personal life
  • Speak to your line manager or HR about your Employee Assistance Programme (EAP), which may be able to provide support
  • When the dust has settled, try sticking to a daily routine to focus on job searching
  • Plan and stick to a healthy diet. The NHS has some helpful advice, plus a useful healthy weight calculator
  • Quit smoking with help from Smokefree
  • Drink less alcohol with support from friends, family and the NHS
  • Start being more active with help from the NHS
  • Try to improve your sleep quality with regular routines
  • Explore our mental wellbeing guides for adults and children to help manage any overwhelming feelings
  • Stay in touch with friends and family to ease your mind. From a text, to a phone call or walk in the park

Taking quick control of your finances after a redundancy can be a helpful way of managing your financial wellbeing until you get back on your feet with a new job. Try the following:

Starting a job search may seem overwhelming, but it doesn’t have to be. Ease yourself in with smaller tasks to make it more manageable:

  • Create a job search plan, with daily and weekly priorities you can work through comfortably. Set aside time each day to focus on it, from updating your CV, to contacting recruitment agencies, and requesting references
  • Make a list of job sites and start monitoring them daily
  • Find out if you can get six months’ free access to Workfriend, an online platform to help manage and support your career from our expert partner, Renovo
  • Speak to your line manager or HR to see if they can support your job search, including reasonable time off to look for a job or attend training if you’ve been with your employer for over 2 years
  • Celebrate small wins with your friends and family to help you to stay motivated

If you still have questions, or don’t think you’re being treated fairly, we’re here to help.

  • Explore MoneyHelper for guidance on making the most of your money
  • Visit the National Debtline for advice on dealing with debt problems
  • Visit Citizens Advice for information and guidance on a range of money challenges
  • Or if you just need someone to talk to, explore our partner, Law Express. Or get in touch and let’s chat things through
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