Shift gears: Successfully change your career after redundancy

Redundancy is a reality that many Australians have had to face, particularly in the aftermath of economic crises like the COVID-19 pandemic and the Global Financial Crisis, but also because of changes to industries and technological advancements like artificial intelligence.

While it can be unsettling, redundancy can also be reframed as an opportunity for a career change – depending how you choose to look at it. Here’s how you can successfully transition into a new career that meets your long-term ambitions.

What are silent layoffs?

Unfortunately, silent layoffs are becoming a growing trend in not just Australia but around the world. Unlike traditional redundancies, where your role might be officially terminated and you are reimbursed with a severance package, silent layoffs are far more subtle. Employers can quietly reduce staff hours, reassign tasks to other workers or put off promotions indefinitely. All of this is for the purpose of encouraging employees to leave on their own. Think of it as the role-reversal of quiet quitting.

In many cases, silent layoffs can stem from cost-cutting pressures from above, especially when companies want to avoid public announcements about formal redundancies. As an employee, you’ll want to be able to recognise the signs early, such as shrinking responsibilities or a sudden stall to your career progression. While it’s not always clear-cut, being aware of this trend can help you be more proactively prepared for a more stable career change.

Assessing your career goals after redundancy

Losing your job can be the much-needed catalyst for reassessing your professional path. So instead of rushing into the first role that appears, you might choose to take some time to reflect on your career goals and your personal values. Ask yourself some questions like:

• Do I want to stay in the same field, or is this an opportunity for a career change? 
• What industries are growing, and do I have the skills to make such a switch?
• What work-life balance do I want in my next role?

Industries like healthcare and social assistance, for example, are seeing strong demand from employers, which could make them an attractive option for career changers. Taking stock of your priorities will help guide your decision-making around where to head in this next chapter.

Learn more: Top university degrees for high-paying jobs 

Upskilling and reskilling after redundancy

Upskilling or reskilling is something you may need to do to make yourself as competitive as possible when transitioning into a new career. Whether you plan on pivoting to a different industry entirely or updating your technical skills to match your sector’s current demands, further education can very quickly boost both your confidence and your employability. Online learning platforms, vocational courses, and industry certifications are all valuable tools to consider.

For those considering a career shift, short courses and micro-credentials will help you develop targeted skills without committing to long – and expensive – degrees. Especially for jobs reliant on digital technology, this is very important as there’s strong demand for specialised expertise.

We also have more insights on how to successfully change careers to help you make better decisions for your future.

Navigating the job market post-redundancy

Once you’ve reassessed your goals and updated your skills, the next step is re-entering the job market. If it’s been a while since you’ve been on the hunt for a job, be aware that there’s now great emphasis on digital platforms and AI-powered recruitment tools. Jobseekers need to optimise their resumes and online profiles to make sure they ‘ping’ in keyword searches and applicant tracking systems (ATS).

The good news is there are plenty of resources around AI prompts to polish your resume, which can make your application stand out to potential employers. And while you will want to be active on platforms like LinkedIn and SEEK, remember that networking directly within your industry can be a gamechanger.

Also be sure to learn how to AI-proof your career for tips on futureproofing your skillset and making sure your career shift will be able to stand up to ongoing technological disruptions.

Learn more: Rewarding jobs that pay well 

Tips to successfully transition into a new career

• Tap into your existing network: Reach out to former colleagues, mentors and industry experts for advice and any potential leads.
• Tweak your applications: Adapt your resume and cover letter to highlight all of your transferable skills relevant to each target industry.
• Hire a career coach: Professional guidance can help with clarity and even shine a light on opportunities you might not have considered yet.
• Stay open-minded: Your new career might mean starting at a lower level or taking a temporary role to get experience. This is all part of the process.

If you were suddenly unable to work due to sickness or injury, would you be able to keep up with the bills or maintain your current lifestyle? Make it less financially stressful by considering income protection insurance. Learn more about Guardian Income Protection Insurance today to see how it can help financially protect you against the unexpected.