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Coping with redundancy at 50+

Woman coping with redundancy at 50

When your role is made redundant at any age it is a difficult thing to deal with, but it can be especially challenging to confront sudden unemployment in the middle or late stages of your career. Redundancy at 50+ can be extremely difficult to cope with. But remember age has its advantages.

The benefits of maturity

Firstly, graduates and younger employees will not be able to match your wealth of experience and skill levels. Employers will also appreciate the network of contacts you will have amassed within your profession.

Are you worried about adapting to new working environments? Research shows that older people cope well with changing procedures, techniques and technology.

Job search after redundancy at 50+

Finding new employment after job loss can be tough. Often people’s identity is based on their professional experience, or their sense of value is tied to job-related achievements and the power and status of their prior position.

Some employers provide outplacement services to help you access support to cope with redundancy at 50+. Otherwise, here are some tips to get your search on the right track.

1. Review your resume

If you haven’t updated your resume for a while, this is your opportunity to create a new modern resume to ‘market’ your skills and experience. Leave out direct references to your age; you do not have to include your date of birth. Not sure what to include in your resume? A resume writing service can help you craft a document with which to impress potential employers.

2. Be prepared

You may encounter people who doubt your ability to recover after redundancy at 50+. Prepare a response to professionals with less experience, recruiters and employers who comment on your age being a drawback. Highlight your wealth of expertise and show how you have the skills, qualifications and the maturity level to rebound quickly.

3. Use social media

Embrace modern technology. Social media sites like LinkedIn let you connect with other professionals, who can recommend you for roles and let you know about jobs coming up. You could also start a blog about your area of expertise or interests; as you develop a readership you could consider adding passive income streams through affiliates, ad space, etc.

4. Start your own consultancy or business

If you have significant experience in your prior profession or there is some other area you are knowledgeable about, start your own consulting business and outsource your knowledge and skills. In theory you can become a consultant in anything – on or offline – cooking, tax advice, marketing, engineering… Or, if you’ve got a really good idea and some solid plans, this could be the perfect time to start up the business you’ve always dreamed of running.

5. Return to studying

Seek training opportunities if your skills need to be updated, especially relating to current technology, or if you want to start a whole new career path.

Worried about being the oldest person in class? Distance education is a popular choice for mature age students. Another option is apprenticeships – they’re not just for school leavers!