Wendel Abel - I AM WHAT I THINKDOWNSIZE AND rightsize to prevent capsize. The word is out as the redundancy axe falls. Many companies and the government are embarking on redundancy exercises and many persons and their families will be affected. This article is not intended to generate fear or anxiety but to enable us to prepare for these realities and to survive.
PREPARE YOURSELF
If you are working with an organisation, like the government, that has given strong indications of impending job cuts begin to prepare yourself. Remember the usual rule, "last in, first out".
VOLUNTARY REDUNDANCY
Some persons choose voluntary redundancy. Carefully think this through and make sure you either have a job or are prepared for unemployment. Harry chose voluntary redundancy.
" I was prepared for it. I had just started a business which was doing well. I would only advise persons to do this if they have a definite plan," remarked Harry.
EDUCATE YOURSELF
Educate yourself about the terms of the redundancy and find out what benefits and legal minimum payments you are entitled to. This information may be sourced from trade unions, the Ministry of Labour and the Human Resource Department at the workplace.
Before you leave, it is important that you collect a copy of your P45 form, written details of your redundancy package and a good reference from someone within the organisation.
USING THE REDUNDANCY
PAYMENT
For those who receive a redundancy payment, remember you don't know how long you will be out of a job so don't be hasty to spend. You may want to use some of the fund to re-train yourself. Consider careers that are marketable and that may possibly create opportunities for employment abroad, for example nursing, teaching, and computing and hospitality skills.
Consult a financial adviser on how to invest your money. It is advisable to put your money on a high-interest saving account in a creditable institution while you explore your options.
DEAL WITH YOUR DEBTS
Do some careful analysis. It may make better sense to pay off debts, for example, mortgage and car loans as the debt payments may be more than the interest you earn.
MAKE PRACTICAL DECISIONS
Sometimes you may have to make some practical decisions that may better serve your interest in the long run even if they are painful. Such decisions may include renting your house, selling a car or moving your children from one school to another.
ORGANISE PROGRAMMES AT THE WORKPLACE
Encourage your union and the Human Resource department to organise programmes to enable workers to deal with redundancy. This is an important part of their function and you should demand it. Seminars should be conducted on the topics of job opportunities, investing your money, retraining and coping emotionally with redundancy.
THE EMOTIONAL IMPACT
"Redundancy was painful for me," commented 60-year-old Agnes who had recently lost her husband. "I cried for days. I felt rejected and used. The separation from my colleagues was difficult. I had worked with this department for 10 years."
Redundancy for many persons include the loss of a job, the loss of a stable income, separation from persons with whom they have worked and for some, relocation as they search for new jobs. It is also associated with major losses and changes in lifestyle. Many people go through a grieving process.
"For me, a way of life ended suddenly. I had to start all over again," said Maria. "It was like death."
Many persons go through the typical phases of grieving which include denial, anger and later acceptance. This phase of grieving may last for years and may be associated with depression and anxiety. Some persons may actually need professional help.
SURVIVING REDUNDANCY
The good news is that most persons survive redundancy. It provides opportunity to change course and career.
"I was angry at first but after the grieving, I decided to move to the country and I took over my father's farm," shared John who was made redundant from the bank some years ago. "I feel so fulfilled; I am working for myself and it is financially rewarding."
We can all survive redundancy with careful planning. It may create an opportunity to create a vision into reality. But plan carefully.
Dr. Wendel Abel is a Consultant Psychiatrist and Senior Lecturer, University of the West Indies.
