This is my take on how to survive being made redundant, to provide a guideline and some inspiration.

1. HOW TO SURVIVE
REDUNDANCY
Les Bryce
October 2018

2. Disclaimer
2
This pack has been based on my own experience and literature research.
It is intended to promote thinking about the issues arising from redundancy
to help you in your own journey.
You should seek your own advice where appropriate.

3. 3
 Even though Redundancy may not be a total
surprise, you can still expect to experience an
Emotional impact when the time arrives.
 The word Redundancy still has some dread even
though many people have some experience of it
during their careers.
 You may experience shock, anger, feelings of low
self-worth, or even depression.
Recognise the Emotional impact of
being made Redundant
We are all Human

4. 4
 The more people you tell, the wider the network of
people, who may be able to refer you to a potential
employer.
 The more you tell, the better you can tell the story,
rather relatives and friends hearing second hand.
Who do you tell ?
Tell everyone!

5. 5
 How you tell your Partner is a good question. With the
prolonged re-org process, they should know that the
possibility of redundancy is there, but when it actually
happens reality can still be a shock.
 In my time I have been through a few restructures
/redundancy situations, and perhaps my best effort was
to go home, tell my wife we were going out to dinner, and
had the most expensive 3 course dinner ever.
 Over the course of the long dinner, we were able to
discuss future options, in or outside the company, in a
relaxed environment.
How do you tell your Partner?
This can be a difficult conversation

6. 6
Redundancy = Challenge +
Opportunity
The Challenge of finding a new job can be daunting, but
that can also be a time of Growth and it is sometimes
only when we go outside our comfort zone that we
progress in life.
The Opportunity and positives are that you are suddenly
free to do things which you would not normally have time
for when in full time employment, such as Travel.
Also, you may take the opportunity to pursue a new
Career, that you have thought about, but never had the
courage to pursue whilst in your current full time role.
Look for the Glass Half Full

7. 7

8. 8
 What Redundancy payment are you entitled to?
 What are your unused Leave entitlements?
 What is the Notice period under your Contact of
Employment?
 What Outplacement services will be available?
What do you do First?
Get the Facts

9. 9
 The genuine Redundancy payment is Tax Exempt up to
$205,000 this financial year.
 However, unused Annual and LSL is simply added to your
normal income for Tax purposes.
 Redundancy payments cannot be directly contributed to
your Super Fund, unless within the relevant caps.
Dollars and Sense
Exempt Termination Payments (ETPs)

10. 10
 Do a Stocktake of your Cash resources and Short and
Long Term Debts
 Perhaps pay-off all your Credit Card bills, put it in the
freezer, and revert to using your Debit/Cash Card
 Do a Budget for your weekly Cost of Living, such as food,
rent, etc. Look at your Quarterly accounts, such as
Utilities, and your Annual Costs, such as Car Registration,
Insurances
 Work out from this budget how many months your
Redundancy payment will last.
Dollars and Sense
Make your payout last

11. 11
 One suggestion is to set up a separate bank account for
Redundancy payout + unused Leave.
 Then work out your basic no-frills Weekly Budget and
transfer that amount into your Everyday Transaction
account, which is what you have to live on.
 Of course you will have to allow for Quarterly and Annual
Expenses.
Dollars and Sense
Set up a separate Redundancy
bank account?

12. 12
 Rather than immediately go into Job Search mode, you
are better off Pausing, and taking a short holiday.
 This will give you time to Reflect on what you like in a
job, what your strengths are and think about your goals.
 Just like when we are working, a short holiday away from
home will provide R&R, so you come back refreshed.
Before you start looking for a Job
Hasten slowly…

13. 13
 Getting up and going to work is what we are used to, but
now you won’t have that routine.
 My suggestion is that you get up as you normally would to
go to work, but then go for a Walk
 Walking gives you exercise, undistracted time to yourself
and has proven benefits for mental well-being.
 You can come home, shower and plan your day with more
energy!
Structure and Routine
Routines give structure to our day

14. 14
 A long time ago I finished a Post Grad course in
November, where the job opportunities were poor. I set
myself two goals: Get back into the pool and build up to
swimming 2k and to hand paint an old car.
 I achieved both goals and when the job market opened up
in the new year I was very confident in my abilities and
had several jobs to choose from.
 Another time 300 staff in a subsidiary were being made
redundant. Some staff sat around for 6 months saying
they were owed a job. On the other hand I made it my
goal to do the best winding up possible, which I achieved
successfully and again had the confidence to get my next
job.
Short Term Goals
Goals give you Focus

15. 15
Job Search
Your new Full Time job

16. 16

17. 17
 The Myer Briggs tests is designed to show your personal
style preferences, which is useful in understanding
yourself.
 Here is a free Website that will give you an equivalent
guideline:
https://www.betterhelp.com/advice/general/you-can-
take-the-myers-briggs-personality-test-free-on-these-
websites/
 Years ago I undertook the test and I am an INTP, with
introversion as my dominant trait. I used to think this was
a Negative, but now appreciate the Positivs.
What is your Personality Type?
Know yourself

18. 18
 Get your Network list together
 Update your LinkedIn profile
 LinkedIn Premium is worth trialling as it gives
tremendous value in job search and application
compatibility information that no other service provides.
 Try and start identifying the things you
would like in a job – work on your Strengths
Job Search
Some things to Do

19. 19
 One site you can learn from is SEEK, which has a free CV
template and some advice:
 https://www.seek.com.au/career-advice/free-resume-
template
 This should be a short succinct document, that makes it
easier for you to get short listed.
 I also recommend that you have a “Capability Document”
and an “Elevator Pitch”, which you have ready for any
contacts you come across.
Your CV
This is your USP

20. 20
 US research indicates up to 85% of jobs are filled
through Networking
 Before jobs are posted online, they are either filled
internally or through a trusted source
 In those circumstances, the job may even be modified to
fit the candidate.
Online Job Search?
Or Networking?

21. Good luck in
your Journey
Les Bryce
0429 813 351
Phone