9-steps-to-take-if-youve-been-retrenched Nine Steps to Take if You’ve Been Retrenched

That dreaded word, ‘retrenchment' – a tragic consequence of tough economic times, and a painful reality to face if it's happened to you. But you can – and you will – move past this. Colleen Taljaard, HR Manager at Glacier by Sanlam, has nine steps you can start taking today to help you look forward.

1. Talk to your family

Some of the hardest conversations you'll have during this time is talking to your family about your retrenchment. You may feel like you've let them down, or perhaps embarrassed or ashamed. Remember: being retrenched is not your fault, and it's a reality being faced by thousands of other hard-working South Africans, just like you.

Trust your family, be truthful, talk openly. Allow them to walk this journey with you, and to support you. If you're feeling low, reach out to an independent, free counselling service like LifeLine, FAMSA or the many local charities that offer counselling services.

2. Don't overlook deployment

During the retrenchment consultation process, you may be offered various options like redeployment. This is when a company, if they are able to, could offer you a position in another department. Speak to the HR practitioner handling your retrenchment process to see a list of other roles that may be available within the business. Be open-minded about a new role or even a pay cut if it allows you to retain employment during this challenging time.

3. Prepare your CV

Bring your CV up to date, leading with your most recent experience. Keep it short: ideally to one or two pages maximum. Be sure to update your digital CV too: LinkedIn is an important platform in today's recruitment world. Not only are many vacancies now advertised here, but recruiters and headhunters search for talent here, and will be sure to look you up on LinkedIn if you apply for a job and you catch their eye.

4. Register on as many job sites as you can

You'd be amazed how many sites exist that advertise new jobs. Be careful of scams though, especially for jobs being offered abroad. Don't hand over any information like bank accounts and copies of your ID until you are absolutely sure that the job is real and the opportunity has been presented to you in the form of a signed contract from a real person working in a real company.

5. Attach yourself (digitally speaking) to the companies you'd like to work for

Often these companies post their vacancies online or offer an opportunity for their followers to register as prospective candidates and receive job alerts.

6. Keep busy

Finding a job that's right for you, in the current labour market, is not a quick process. Sharpen your current skills or learn some new ones. Short online courses offered in your field are something to consider.

7. Create your own work

During the retrenchment consultation process, you may be offered various options like redeployment. This is when a company, if they are able to, could offer you a position in another department. Speak to the HR practitioner handling your retrenchment process to see a list of other roles that may be available within the business. Be open-minded about a new role or even a pay-cut if it allows you to retain employment during this challenging time.

8. Catch up on your admin

As soon as you are able to, sign up with the Unemployment Insurance Fund (UIF) if your employer contributed to the Fund. Now is also the time to appoint a financial planner if you don't have one. There may be decisions that you need to make regarding your pension fund, and you don't want to make any mistakes.

Speak to your insurance provider, banker or creditor if you foresee that meeting your payment obligations is going to be difficult. Whatever you do, speak up.

9. Research, research, research

Write your own dream job spec in the company that you wish to work for. Now research what it will take to make this a reality. Before an interview, get to know the company that's interviewing you. Do your homework. Arrive prepared. Your level of preparedness for the job interview or the aptitude assessment is directly proportionate to how badly you want the job. Your future, largely, really is in your hands. Above all, believe in yourself, your purpose and stay connected – to your family, friends and community, in your personal and professional capacity.

Please consult with a financial planner before you take any action regarding your savings and investments