The period when you are adjusting to your change of circumstances provides a good opportunity for you to take stock of where you are in life and decide where you want to go. Just as you’ve done for managing your way through the bills and debts issues that go with reduced income, you need to acknowledge your present situation and your desired future. Then you can start to plan how to achieve your work and professional goals.
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Starting your job search
Spend some time researching possible work opportunities. Talk to friends, employment agencies, old colleagues and people from across your social and professional network. Ask them to let you know if they hear of any opportunities that might be suitable.
Chase up old contacts, make cold calls and approach companies where you think there may be opportunities.
Decide what your best and most marketable skills are. Ask others to tell you where they think your natural strengths are, and talk to them about businesses and industries that need people with those attributes. Work on finding opportunities to sell your skills to potential employers.
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Jobs and money
For most people experiencing or facing job loss or reduced hours because of the economic downturn, the interdependence of jobs and money is very apparent.
In January 2009, Dun and Bradstreet’s Consumer Credit Expectations Survey reported that 39% of working Australians could survive for only 30 days on their current savings if they lost their job.
This statistic highlights the importance for people facing redundancy to carefully consider their options for their bills and debts for both the short and long-term future. Financial management on a limited income can be very challenging.
For some, losing their jobs or working less provides them with an opportunity to transition into another stage of life. The finances of these people may be manageable. They may decide to retire, retrain or reassess what they want to do in the future as a result of being retrenched.
Some unemployed people may investigate the Commonwealth Government’s New Enterprise Incentive Scheme, which provides training and resources for to start up and run a new viable small business.
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Where to go for help with jobs
Check out the Internet for job search techniques. Many websites, such as SEEK, MyCareer, and the Commonwealth and Victorian Government job sites offer free advice (and templates) on how to apply for jobs, writing a cover letter and resume, and salary check tools to check the salaries for a range of roles in the current market. A number of government agencies, including Centrelink and Job Services Australia, can also provide you with career advice and support.
Skills Victoria provides a wide range of information on education and training options including apprentices, trainees, students, teachers, trainers, businesses and employers.
You’re almost certain to find that looking for work is a job in itself.
If your employer provided any free guidance or training as you prepared for unemployment see how you can use what you learnt to improve your chances of finding work. Perhaps you met new people who you could let know you are in the job market.
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Other government initiatives for retrenched workers
The Victorian Government has placed a high priority on supporting Victorian workers and employers affected by the current global financial downturn. The Back to Work support service assists workers and employers who are faced with retrenchment to make an informed decision about their future.
To register with the Back to Work support service call 1800 842 463, or visit www.workforce.vic.gov.au/backtowork
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Getting ready to talk to employers
Update your resume and make sure it highlights your skills and experiences together with your flexibility and willingness to learn. Accept that you may not initially find a position at the same level as your old one and it might take a little time to be back on your old salary.
Practice interviews with people you trust so that you become more comfortable with marketing yourself and what you have to offer.
Find out more information about other options for getting back to work on ASIC’s Fido website.
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Today’s job market
Recent retrenchments and under-employment levels mean there are more people vying for what sometimes seems like fewer jobs. The numbers of people in the jobs market mean that competition for any one role is strong.
Finding a new job may take six months or more in the current climate. This means perhaps a longer job search than most people have ever had to contemplate. So, it’s important you keep your expectations about your next job realistic. You’re in new territory, so concentrate on those things you can control.
Don’t take it personally if you miss out on a role that you think you’re well-qualified to win. The outcome may have nothing to do with you or your application. There may have been a preferred candidate or somebody acting in the role, and advertising the job may simply have formalised an existing arrangement.
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Stay positive
Staying positive and focusing on what you can do to get back into the workforce is very important.
Take time to recognise how much work and energy you have devoted to overcoming both your unforseen job loss and the financial issues it raised. Acknowledge those who have supported and encouraged you, and their importance to your vocational and financial recovery. Acknowledge the resilience you’ve shown since your circumstances changed.
Remember a broad range of help is available to keep you focussed on managing your debts as you move to the next stage of your career and your life.