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Redundancy is a challenge that no professional will ever relish facing…
However, within the current legal market, redundancy is unfortunately becoming increasingly common, particularly within those larger firms or those firms which grew rapidly over the last few years post-Covid but who can no longer sustain their numbers. While the political, financial, and social climate still remains unpredictable, and while there is still an outside chance of a recession, rising costs squeezing resources and budgets indicate that the risk of redundancy is a possibility that may remain throughout 2023. External factors are having a huge impact on specific areas of law and some niches are being hit harder than others and, unfortunately for some businesses, the safest option is to start making redundancies.
With all of this being said, although redundancy can be a highly stressful and turbulent period, there are always opportunities available . Over the last 16 years, our team have successfully assisted in supporting professionals to find new roles regardless of the state of the market, operating through multiple types of recession, including the 2008 financial crash and the pandemic.
Our legal team have put together this guide to advise you of the next steps post-redundancy, and how we can help you find an even better-suited and exciting opportunity to step into.
1. Breath, pause, and reassess your situation and priorities
Whilst redundancy might seem like a door closing, it can actually be another one opening. View this as an opportunity to assess all the options that are available to you. The jobs market has changed significantly over the last 3 years, so if you haven’t moved jobs for a while, you may be surprised by what is out there. This could be the perfect time to take your career in a new direction and find a position that is even better suited to you than your last.
2. Get the support you need
In such a critical period, it’s essential to get the support you need from a specialist consultant who can help you make an informed decision. Their position within the market means they are privy to a wealth of information about the current hiring market, and they will be able to share salary insights, information specific to your local area, and work with you to decide what is most important to you in your next move, whether that’s job security, salary, the type of practice, or the time scale. As a specialist within your remit, they will understand the specifics of your role, location, whether you’re working with international firms, national business or high street.
3. Find a strategy around your notice period
Whatever your notice period, we will work out a strategy around this to secure you a new position. If you only have a month notice, our strategy to get you back into a job will be different to what we could achieve in a 3-month notice period. This includes working out what compromises might be needed for the process, but it also allows us to reach out to the correct clients.
4. CV & Profile building
If you need advice on updating your CV, we can assist in bringing it in line with the current market and skills landscape. Or, if you don’t have a CV, we can build a profile on your behalf and use this to market you and your skillset.
5. Focus your process
Save time by streamlining your job search: when you work with a specialist Heat Legal recruiter, we are here to support and advise you throughout the application process and ensure your job search remains focussed. The alternative of online applications will mean you spending time wading through options and often receiving no feedback at all, whereas we can target your search and put you forward for the best opportunities. Due to our existing relationships with contacts and hiring managers, we are able to send you to existing clients, even if they don’t have open positions being advertised. Moreover, if you have been part of a mass redundancy, we will help you to stand out from the crowd.
Our established relationships with firms will help us to match you with employers, saving you time and allowing you to focus on the interview process instead. Equally, when it comes to interview preparation, we are able to advise on the specifics that firms are looking for and give you the insights you need to help you prepare appropriately.
6. Securing the best deal
Once you have secured a job offer, we will continue to support you by negotiating the best possible offer. Salary negotiation can be difficult in ordinary circumstances, but in the case of redundancy this can become even more complex. The bottom line is that you will want to walk out of your current role with job security, the best possible salary, and the confidence that you won’t have to go through the process again any time soon.