Redundancy and Global Pandemic.. Stress Alert!
Losing a job is never a good thing, no matter what the reason is. Currently, we are amidst a global pandemic, economies are suffering due to lockdown, people are losing their jobs because their company cannot afford to pay them. When this situation is looked at from the company's point of view, it seems fair. It seems like the company is trying to find ways to cut down on expenses since there is no revenue. But looking at this scenario from an individual's point of view, it seems rather unfair to fire employees in a pandemic when they need money to purchase basic necessities. People who have been made redundant are facing financial troubles as they lack a source of constant income. Financial stress drains an individual mentally. They worry about being able to afford groceries, healthcare and other basic necessities. Here is what you can do to tackle redundancy without letting it affect you:
A lot of companies are offering remote work in order to keep the business going while following the government's lockdown guidelines. Anyone who has been redundant should seek remote work in order to ensure stable income until life goes back to normal and they can return to looking for an office job. Although they may continue working remotely from the comfort of their home if that's what they prefer.
In case of redundancy, it is also important to be aware of one's legal rights. Anyone who is being made redundant is entitled to statutory redundancy pay, which is calculated based on your age, weekly/monthly pay and the duration you have been at your job; as long as you have been with your employer for at least 2 years.
Another important task to do when being made redundant is to start budgeting. Find out ways to cut costs so you can save more money. Always have an emergency fund to use if things go south. Research if there are any government grants you can apply to while you look for a new job.
Redundancy can have an effect on one's mental health. Think about it rationally and from your organisation's point of view. Instead of being pessimistic about this, try to be optimistic. Be open to new opportunities. It is important to not let this setback affect your confidence. Speak with your loved ones, share your feeling with those you can confide in, take some time to reassess your career goals, learn a new skill in your free time or pick up a hobby.
Being made redundant can be difficult, but it is possible to overcome this set back by believing in yourself and not giving up.