Before diving in, I want to be clear: I’m not an expert offering binding advice. This is my personal experience and perspective on navigating redundancy in the corporate world. Each situation is unique, and what worked for me might need adaptation for your circumstances.
The Reality Check
A few months ago, I was writing blog posts about the potential looming economic recession. However, the AI-related content seemed to be far more exciting, drawing substantial readership, whereas my economic trend pieces seemed to fade into the background. Little did I know that I was about to experience the recession’s impact firsthand – through the threat of losing my job.
Let me be brutally honest: redundancy process is a gut-punch, especially in large corporations.
So let’s jump into the reality of redundancy process, where I’ll share my personal experience of navigating a layoff threat and the lessons I learned about corporate culture and resilience.
The Corporate Truth
Let’s start with some hard truths. In large corporations, you’re always replaceable. This isn’t meant to be just harsh – it’s simply the reality of modern business. Your job is a transaction, where we deliver some value in exchange for salary, until your service is no longer necessary.
For those decision-makers at the top? Not seeing the forest for the trees – they see you as a number, not a person with hopes, dreams, and a mortgage to pay. Corporations typically hire in surplus of staff, in order to keep operations smooth and as a safety net or contingency plan. Ironically they do it during good times to manage their inefficiencies that eventually leads to more inefficiencies, that later eventually leads to layoffs.
Even Human Resources (HR), often seen as an employee advocate, primarily serves to protect the company’s interests – so don’t get deceived. HR isn’t your friend; they’re a business function managing organizational life events.
Due to compliance with labor laws, which vary by location, affected employees are often placed in a consultation pool, awaiting the final decision on who will be let go. During this time, the uncertainty can be overwhelming. I personally experienced a dip in performance, finding myself zoning out during important meetings, despite my usual mental resilience and acceptance of the situation. This is a normal response to an abnormal situation. If you’re struggling, consider seeking advice from a mental health specialist.
Reframing: the Challenge
Use this amazing cognitive psychological technique to gain strength. Instead of viewing redundancy process as a threat, I chose to reframe it as an opportunity for growth and change. This mindset shift was crucial. Here’s what helped:
- Allowing emotions to surface while not letting them control us – be professional
- Accepting reality as it is, not as we wish it to be
- Focusing on what’s within our control
- Using uncertainty as a catalyst for self-reflection, improvement, and mobilization to create contingency plan
The Power of Preparation
Although I survived this time, upon reflection, I can tell you that I was caught off guard and realized that I wasn’t completely prepared.
Skills and Development
One of my key realizations was that in a recent year or so, I had focused too intensely on work, slightly neglecting personal development. Don’t make this mistake. Keep learning and growing, even when comfortable in your role. Today’s landscape, especially with AI and LLMs, offers numerous opportunities to expand your knowledge base.
Anyways, focus on developing versatile transferable skills, just to list a few:
- Leadership and People Management: Be able to inspire and guide teams.
- Effective Communication: Be able to convey ideas clearly and persuasively, both verbally and in writing.
- Technical Expertise: Have specialized knowledge/knowhow in your field that requires human insight and experience.
- Critical Thinking and Problem-Solving: Be able to analyze complex situations and develop innovative solutions.
- Emotional Intelligence: to understand and manage your own emotions, as well as empathizing with others, which is crucial for teamwork and conflict resolution.
Network Building
Another crucial aspect I overlooked, was maintaining an external professional network. While internal relationships are valuable, and those probably kept me afloat, external connections provide additional security and opportunities. Face-to-face networking at industry events and meetups remains the most effective way to build meaningful professional relationships. Make sure you attend events.
For introverts wondering about networking: treat it as another skill to master. Like any other capability, it can be learned and improved with practice.
Financial Preparedness: Your Safety Net
I was fortunate. The financial cushion provided me significant peace of mind.
Mind that this blog was inspired by us seeking freedom, which involves taking care of your finances. Hence we build 3 months emergency cushion to cover our typical expenses. (Note that on top of that I have 3 months notice period and almost 4 year of service eligible for severance package.)
So having an emergency fund covering at least three to six months of expenses (depending on your situation, can be even 12 months) can significantly reduce stress. Consider your commitments and family situation when determining your own buffer size.
The Growth Opportunity
Facing potential redundancy prompted me to:
- Reassess my career goals
- Seek feedback from peers
- Evaluate my strengths and weaknesses
- Consider my true passions and interests
- Review my skill set and identify gaps
Regular career audits are valuable, though I admit to neglecting these during busy periods. Quarterly reviews of your professional development can help maintain focus on long-term growth. Ironically, I prioritized these reviews for my team, but often overlooked my own.
Moving Forward
Although I survived this round of redundancies, the experience taught me valuable lessons about career resilience. Having a background in statistics, ML/AI/LLMs, and leadership experience makes me quite employable, yet I’ve learned that true security comes from continuous learning and adaptation.
What about you? Can you say the same about yourself? If not, it’s worth taking some time to reflect on your future. As AI trends continue to evolve, knowledge is becoming increasingly commoditized. You need to embrace this tool. The key to staying ahead will be to critically assess the information provided by AI and determine how you can turn that knowledge into tangible outcomes or benefits – in near future, this will be your most valuable asset.
Key takeaways for maintaining professional resilience:
- Never stop learning and developing new skills
- Build and maintain professional networks actively
- Keep your financial house in order
- Regularly assess your career path and goals
- Accept change as a constant and prepare accordingly
Conclusion
Redundancy process, while challenging, doesn’t define your career journey. It’s an opportunity to reassess, grow, and potentially pivot toward better opportunities. Stay prepared, keep learning, and remember that change, while uncomfortable, often it can lead to growth.
The key is maintaining perspective: focus on what you can control, prepare for various scenarios, and use uncertainty as motivation for personal and professional development. Your career is a journey, not a destination, and each challenge can be a stepping stone to something better.
Remember, it’s always darkest before dawn, but those who prepare, adapt, and maintain resilience often find their way to brighter opportunities. Good luck if you go through the redundancy process.
What’s your biggest takeaway from this post, or what strategies have helped you navigate career uncertainty? Share your thoughts and experiences in the comments below!