Redundancy Urban Myths

Do you feel like the changes in the job market have made you, or your role, redundant?

If you are currently employed you may be worried that you're going to lose your job. Alternatively you could already have been made redundant and concerned that you aren't going to find a new role any time soon. Whilst it is true that today's job market is extremely competitive, you could be surprised to hear that despite the high numbers of people out of work at present your skills and experience are still highly sought after by many employers.

The idea that companies won't be interested in hiring you because you've been made redundant is simply an urban myth. The majority of HR personnel and organisations find redundant individuals of great interest. They know that being made redundant isn't a reflection on an individual's skills or experience or performance for that matter.

Many organisations are deliberately recruiting people who have been made redundant by rival companies. These individuals often have lots of relevant skills and expertise that they can benefit from. When hiring an experienced employee companies are less likely to have to invest in upfront training as they already know what the job entails and can hit the ground running. The costs they save in training and development can often result in better remuneration packages being offered.

Companies still need to focus on growth in tough economic times so having quality people on board has never been more important. If you can demonstrate a successful career path with a competitor you could find yourself in high demand.

For many employees their roles have diversified in the recession by taking on additional responsibilities or using the quieter business conditions to focus on their own personal training and development. In these circumstances you could actually find yourself even more marketable and therefore attractive to employers.

So even if you find yourself redundant in your current job, don't let it affect your self esteem. There are plenty of companies that will recognise the value of what you can offer. Don't let anyone convince you being made redundant is the end of your career as it's just not true. Try making it into a positive thing and rise up to the challenge. By seeing it as an opportunity to grow or diversify you might find yourself never looking back.

This article was written by Tom Sangers on behalf of Martin Ward Anderson who offer recruitment services for Finance Jobs and Banking Jobs