What Are The Realistic Options When Your Skills Are No Longer In Demand And You Are Facing Imminent Redundancy?

July 20th, 2010

It’s a difficult time for the whole of the Western world currently . We keep being reminded that the economy is recovering, albeit at no great pace , from the deepest recession in living memory, that is unless you happened to be living in 1929. I don’t know about you but it seems to me that things are only getting worse. The world moves on though and time has moved on and it has to be said that the technological world moves at a goodly rate and yesterdays technology becomes obsolete almost overnight and opportunities in the workplace appear to be getting less except if you have precisely the right set of work skills .

Few organisations have a an unflawed track record relating to worker welfare. They just can’t afford to in this economic climate . The Hire ‘em and Fire em’ way of thinking that is prevalent in America has very definitely spread across the channel and if company managers are given the task of downsizing their workforce to save money then , these days they will notthink twice . Facing up to redundancy can be a traumatic experience. An important point is to keep in mind that it’s usually not personal even though sometimes it seems like it is. “It’s not personal, it’s just business” was a line from the Godfather but the consequences seemed pretty awful then didn’t they?

It’s vital to start thinking early on if you think that you may be going to get made redundant. Forewarned is forearmed in some respects and the earlier you start thinking of the future the better prepared you will be if and when the axe falls. If your skills are totally out of date or are just of use to your current organisation then the sooner you find out what is selling in the labour market the better. Your employer may be one of the generous ones that will give you help with re-training but if it’s a smaller outfit then this can be of limited value. The point here is that when the rumour mill around the company seems to be telling the truth more often than not then it’s time to look at your realistic options for when you actually get the chop.

If you have a specialist skill or a special interest then it’s not a bad time to think about starting your own business. If you have been in a desk job for most of your career then this can seem daunting but you should have a goodly period to mull this over before your employer lands that dreaded letter on your desk (or sacks you by text, as seems to be the current fashion!)

If you get made redundant and manage to get a settlement out of your prior employer then one way of investing your redundancy money is by putting it in a Franchise For Sale investment to get you back in business. In fact Franchises seem almost tailor made for people who have been made redundant. Franchises do demand an initial fee but then again it’s not like starting up your business totally on your own. A good franchisor will help you through the intimidating start up period during which a lot of go it alone type businesses fail. There is something to be said for the Franchise For Sale type of investment as say you have invested Nineteen thousand pounds in a Home Based Franchise. You are far less likely to walk away from this amount of investment level than if you had merely invested a couple of thousand quid in some products that you can’t shift! If you’re worried about the investment levels demanded then looking at a Home Based Franchise should help to keep the costs down by avoiding the expense of maintaining premises and plenty of Franchises tend to follow this method . If you have a reasonable redundancy package but not much business experience than a good look at the Franchise For Sale market is likely to be your best bet.

A further option you could look at is vocational training. There are a raft of courses out there and the governments own training centre LearnDirect has a large number of basic to intermediate level course leading to industry recognised qualifications. If you are in receipt of benefits there is a grant of two to three hundred pounds available that can be used to help with the costs of a course that leads to a recognised qualification

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