Tuesday 19 March 2019

Career Doctor: Considering accepting voluntary redundancy

Q. My job has recently announced a voluntary redundancy package to staff and it's been offered to all staff. If I took it, I'd get enough redundancy to last me for about three months.

I'm young and confident that I will be able to get either another job or work for myself when the economy picks up. I like my job, but I don't love it. Do you think it's a good idea for me to put my name forward? Also, will it look bad on my CV in the future if I've been made redundant?

A. If you pushed me for an answer, I would probably advise you against such a move, based on the limited information I have about your situation. Let’s look at the positives and negatives to help you make your own decision.

Glass half full: Taking voluntary redundancy will land you a lump sum and assuming you walk into new employment you will be better off financially. You mentioned that you like your job, but don’t love it. Taking redundancy will allow you to pursue and secure your dream job.

Glass half empty: We have a very tough job market in Ireland, and walking straight into new employment is not very common. If your job hunting takes more than three months, you will end up in a worse financial position.

There are many jobseekers in this market who want any job, never mind a dream job. There is a possibility that after volunteering for redundancy, you will end up being forced to take a job you hate.

You asked if redundancy would look bad on your CV. I don’t think redundancy looks bad, as most employers accept the current climate and redundancy can impact any employee. Redundancy could impact your CV if you remain out of work for an extended period.

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