Redundancy: What do to next?

Facing redundancy can be a daunting and challenging experience which can spark financial concerns and leave you with a confidence knock, despite you potentially not having done anything wrong. With the large number of redundancies being made across industries, there will be many people feeling the same way as you, so take the time to process your redundancy and think strategically about your next move. After all, redundancy can be an opportunity for growth and transformation.

Whether your redundancy has resulted from a change in team structure, company cutbacks or other circumstances beyond your control, you can take steps to secure your next opportunity.

In this blog, we'll explore a strategic approach to job hunting, leveraging LinkedIn as a powerful tool, optimising your online presence, and reconnecting with your network for recommendations.

Use LinkedIn strategically

One of the first things you're likely to do if you've lost your job is to look on LinkedIn or other job sites for new opportunities. The issue with this is that everyone else is doing the same. Seeing the number of applications an individual job has on LinkedIn can be disheartening, and it can be easy for your application to get lost amongst the sheer volume. 

Oakstone advises using LinkedIn as a search tool rather than a direct job application site. Find the jobs you want to apply for and determine who the hiring manager is. Reach out directly to them or ask for a mutual connection to make an introduction. Being in direct contact with the hiring manager allows you to ask questions, showing your interest level while gathering further information. You may find that the job opportunity is not what you really want after speaking to the hiring manager.

• Research the Company: Use LinkedIn and other online resources to research the company thoroughly. Understand their organisational structure and the key decision-makers to ensure you reach out to the right people. 

• Identify the Department: Determine which department or team is responsible for the role you're interested in. Often, this information is available in the job posting or on the company's website.

• Network Smartly: Leverage your existing LinkedIn connections or join relevant LinkedIn groups to find employees of the target company. You can filter your searches to find employees by company, title, or location.

• Send a Personalised Message: Once you've identified the hiring manager, send them a personalised message expressing your interest and a few questions about the position. Mention any mutual connections or shared interests to establish a relationship. Invite them for a discovery call to learn more about the role and whether it's right for you. 

Find the right positions using these tips:

• Job Alerts: Set up job alerts based on your preferred job titles, locations, and industries. This ensures you receive notifications when new positions matching your criteria are posted.

• Advanced Search: Use LinkedIn's advanced search filters to narrow down your job search. You can filter by company size, job function, and even connections. This helps you focus on positions that align with your goals and interests.

• Follow Companies: Follow the companies you're interested in working for. This not only keeps you updated on their latest news but can also give you an edge in the application process.

Reconnect with Your Network

Your professional network can be a valuable resource during your job search. Here's how to reconnect and seek recommendations for open positions.

• Reach Out to Former Colleagues: Send personalised messages to former colleagues, supervisors, and professional acquaintances. Catch up on their career updates and share your situation to see whether they know anyone in their network who could assist you.

• Attend Networking Events: Look for industry-specific networking events, webinars, or online and offline conferences. These events provide an excellent opportunity to meet new contacts and strengthen existing relationships.

• Request Recommendations: Don't hesitate to ask for recommendations from individuals who can vouch for your skills and work ethic. Offer to reciprocate if they need a recommendation in the future. 

• Leverage Alumni Networks: If you're part of an alumni network from your university or previous organisations, contact fellow alumni for advice, introductions, or job leads.

Optimise your LinkedIn Profile

Inbound job opportunities will only come to you if your LinkedIn profile can be found. LinkedIn has become the go-to platform for headhunters, recruiters and hiring managers to find potential candidates. They use specific search methodology to find potential candidates for the roles they are working on. However, the right criteria must be featured on your profile to be found. Here's how to make your profile shine:

• Detailed Experience: Featuring your role and previous companies is not enough. List your responsibilities and experiences in each role. Include any significant accomplishments and target figures, as this will make you stand out. Use bullet points to make it easy for recruiters to skim your profile. Always be honest about your experience on Linkedin and your CV, as lying can tarnish your relationship with recruiters.

• Summary: Write a concise and engaging summary highlighting your career achievements, skills, and what you're looking for in your next role. Use keywords related to your industry to enhance searchability.

• Compelling Headline: Craft a headline that states your status and highlights your skills and expertise. Avoid generic titles like "Seeking New Opportunities" and instead go for something like "Strategic Sales Leader | SaaS Sales Expert | Open to New Challenges."

• Professional Photo: Upload a high-quality, professional headshot. Dress appropriately and ensure a clean, well-lit background.

• Recommendations: Request recommendations from former colleagues or supervisors who can speak to your skills and work ethic. Having endorsements on your profile adds credibility.

It can be challenging to pick yourself up after a redundancy, but making a plan of action will give you a new and much-needed sense of control. Treat looking for a new job like a job. Decide what time you're going to start and the steps you're going to take to find yourself in your next role. Be strategic about how you’re going to get your next role, and don’t panic by applying to any open role.

For some people, redundancy can give them a new lease of life, making that career change they'd considered for a while, learning a new skill, doing a course, or setting up independently.