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7 steps to take if you suspect retrenchments may be looming

Household Finance

7 steps to take if you suspect retrenchments may be looming

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You may be seeing the signs of retrenchments looming within your organisation. Here are some of things you can start doing to prepare yourself.

1. Do some market research

Have a look at some jobs on offer that are similar in nature to your own or for those roles that you might want to apply for. What skill and qualifications would you need? Is there any particular software that you’ll need to know? How do you stack up to the requirements?

Now is a good time to start up-skilling if need be.

2. Salary comparison

Consider the average salary on offer for the roles you would be interested in. Would your expectations be market related?

It is important to understand your own pay slip and salary structure. If you are not 100% sure, make an appointment with your Payroll Division to get a thorough explanation.

 3. Get your CV market ready

Update your CV and make necessary adjustments as applicable. Check that you have included all the basics. Add specific details of your suitability for roles that you may be interested in. Use the information researched above to tailor your CV.

 4. Job portals

Your profile on job portals needs to be current. Check all the details listed to ensure that your requirements and general information are correct. Remember to add your updated CV.

5. LinkedIn

Is your profile at all star status? Do you need to update your profile picture and work history? Can you improve your headline and summary? Is your updated CV attached?

It is worthwhile connecting to recruiters that specialise in your area of interest. This ensures that you get notified when roles become available. Follow them so you see the latest posts.

6. Be interview ready

If you have not been to many interviews of late, consider some interview coaching. This allows you to make the most of each interview you may have.

7. Get financially ready

This is a good time to re-look your budget. Your spending habits and insurance/investment portfolios could also need revision. A qualified Certified Financial Planner can assist with this.

By Gita Lowe, Performability (Pty) Ltd. Gita can be reached at gita@performability.co.za

Performability (Pty) Ltd is passionate about giving people the ability to perfom and provide training so that employees of all levels are financially literate. If your business is considering providing such support to your workforce, contact us to see how we can help.

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Gita is a recruitment specialist with a love and passion for people and service delivery. Strong networking skills, with the ability to recruit beyond the borders of typical job portals. Taken from her passion to help people, Performability was born. A consulting company with a view to supporting employers and their employees through a retrenchment process, provide vital financial wellness & literacy training, and to ensure that teams remain high functioning.

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