Im redundant..now what

Discussion in 'Investment Strategy' started by sammmeee, 5th Nov, 2015.

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  1. TMNT

    TMNT Well-Known Member

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    I basically did nothing for 6 months, travelled a bit, drank like a fish, caught up with friends, went to places that I had meaning to go

    I did it until I got bored of it
     
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  2. Azazel

    Azazel Well-Known Member

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    That's the way to do it!
    (Save some money for a deposit on a cheapie as well)
     
  3. Johann_

    Johann_ Well-Known Member

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    Getting redundant can be a blessing in disguise, I remember when I got redundant my mind thinking like a race horse. But as a blessing, I got into my business :).

    Unfortunately more companies require one person to do multiple roles. If you ever want to chat just let us know... always good to provide some positive advice.
     
  4. retire@45

    retire@45 Well-Known Member

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    I was going to say same thing it's really important you remember it's nothing to do with you personally it's to do with the job you used to do, two very different things.

    I was made redundant twice before the age of 30, in both cases it was a restart and a stepping stone for me, not to mention a fantastic tax break on the payout! I just wish I knew more about money back then :)
     
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  5. melbournian

    melbournian Well-Known Member

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    i was made redundant in 2013. i thought i would be ok (in terms of mentally) but i really wasn't as i was used to meeting my work mates, going to lunch and now stuck at home and the interactions were mainly with my pet maltese. i was ok not to work financilaly for a period of time. After 1.5 months, i went back into the workforce - it was for sanity purposes
     
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  6. bob shovel

    bob shovel Well-Known Member

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  7. Chrispy

    Chrispy Well-Known Member

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    I took a redundancy package. On my last day I took a phone call from an ex boss who had left 12 months before, who offered me a temporary job to start on the Monday. I took it and stayed 4 years, then previous employer rang to say project I had worked on had not moved since I left, so would I go back and get it going again...back I went, increase in pay...for another 3 years!!!
     
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  8. Chris Au

    Chris Au Well-Known Member

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    As others say, a redundancy (particularly with a payout so some breathing space) can be a blessing in disguise. A few years ago, my job changed so I decided to leave... to nothing (at that point I didn't know I could ask for a redundancy and they didn't volunteer any). What I (now) learnt from this experience is that I'm an externally driven person so I 'needed' another job. Reading the posts here, I envy those that are internally driven. This situation may show for you whether you are externally or internally driven.

    I have read the Slight Edge that Michael recommends and would certainly recommend it as well - is a great book to keep you moving until you find your own steam. All the best.
     
  9. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    I don't usually post about it (and never have), I was offered one 11 months ago. I literally had 11 months pay out. I didn't take it and found a new role within the organisation. Took me a while to recover from the shock of it as I had a very tough last year with a lot of politics and long hours. The promotion went with it!

    I can tell you, it was the BEST thing that happened for me. It changed my mindset about corporate altogether. I want to leave on my own terms (I know stupid). However, it gave me time to figure what I want to do and what my visions are.

    If you don't have any immediate concerns, I would take it....and why would you want to do 2 people's job? Again if you had asked me this 12 months ago, I would have taken A LOT of pride in doing TWO jobs - mine and my manager's....hence this thread:
    11 ways to be unremarkably average

    So follow your heart. Think of YOURSELF first. And as someone said earlier, be gentle and kind to yourself, please.

    All the best.
     
    Last edited by a moderator: 7th Nov, 2015
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  10. devank

    devank Well-Known Member

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    I understand that everyone is different but why would you not take the 11 months pay out and walk into another job? Especially at your age.
     
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  11. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    I wanted to change careers to project management at the time. I was in software testing....didn't like it much (too much off shoring), it's not valued and people usually think you do the "easy" work..

    And had a few commitments at the time :)
     
  12. bob shovel

    bob shovel Well-Known Member

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    @MsAli wow big call staying! But I guess if you had your sights of other attainable avenues is worked out well.
    I was happy with a 2 month redundancy! That was after sitting idle for 2 months waiting for it :D
    Is the project management working out for you?
    I worked construction project management and one thing I've learnt in general in the work force is company loyalty no longer exists! It's chasing the jobs and looking after number 1!
     
  13. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    It's a good stepping stones. But I realise, my heart doesn't lie in corporate anymore...especially because redundancy gives you a reality check. It was my first job out of university and I had been in it nearly 7 years (with progression of course). So the romance with corporate ended there. I'm not ambitious about it anymore. More of an entrepreneur and that's what @monalisa and I have loved about property.
     
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  14. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    + to add, when I leave it will be on my terms. That's the vision :)
     
  15. bob shovel

    bob shovel Well-Known Member

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    @MsAli 7 year itch! I was about the same when I started questioning what I was doing and over it! Sick of playing by their rules. One pm called me the "renegade" I was 25ish with a hell of a lot more experience than others so no one knew what to do with me. It was great!

    I understand leaving on your own terms for pride but a "cream" redundancy doesn't temp you?? Being "paid to leave" is better than walking, especially if there's a years + salary on the cards! You'll never have to deal with that industry again or those people fighting the 9-5. Everyone is replaceable and you'll be forgotten in a short period unfortunately... After you get blame for everything (behind your back) that goes wrong the month following your departure
     
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  16. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    @bob shovel
    True...I agree. 11 months would have been nice. Wasn't ready at the time and financial / family responsibilities had to take priority over that :)

    And the break into the PM space was important which would have been more difficult outside.
     
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  17. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    And then 10X all 100 of your goals
     
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  18. neK

    neK Well-Known Member

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    I'm with MsAli on this one. I had a opportunity to take a redundancy when i was younger... earning a massive $35k at the time. LOL

    The redundancy was coming, but I saw an opportunity to change roles (was working in superannuation administration) and i took it. Had i taken the redundancy back then, I probably wouldn't be in the position I am now.

    I think one needs to weigh up whether the money the opportunity is worth it.

    On the flip side, I did get a redundancy a few years ago as a mentioned. I did feel some what rejected by the notion that the organisation no longer wanted me and it did upset for me for a bit. But I got over it. I looked that money that was being offered and knew i could find another role easily if i wanted to.
     
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  19. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    I hear you. What was more disappointing was, people literally stop talking to you much. Either that they feel it's sensitive time? Would have been nice to have a farewell. But I wasn't alone. It was a project shut down from 70 down to a handful.
     
  20. neK

    neK Well-Known Member

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    I think it's a combination of them not knowing what to say and the culture of the organization. When I was working for the same place, redundancies were very hush hush and you weren't allowed to talk about it with others outside the group being made redundant - wasnt explicitly stated, but implies.

    That said because it was larger group (30+, we just all got together and celebrated anyway) with anyone - they couldn't stop us, it was our method of "healing".

    That said, one of the guys who I sat next to got made redundant (nothing he did wrong, just that his experience didn't suit given how they wanted to change things). They tapped him on the shoulder, had a meeting, escorted him to his desk, watched him get his stuff, then escorted him out. Their view is that they don't want have a big scene and disrupt people - didn't stop the fact that everyone asked where did he go later that afternoon.
     
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