Retrenchment Advice

Most of us, at some stage throughout our working lives have been or will be temporarily out of work. No Company enjoys the prospect of retrenching employees. However, the very purpose for existence of any Company is to make profits for its shareholders who have invested money in the enterprise.

If for any reason a Company or part of its operation becomes unprofitable, retrenchments can occur due to restructuring, re-organisation or market shifts.

If you have been retrenched because the Company needs to do away with your position, it does not reflect on you as an individual.

Naturally you may initially feel angry, bitter and disappointed and other emotions may emerge. This is a very important time of your life and can be a significant turning point for the better. We cannot change the past but we can significantly influence what happens to us in the future.

A positive approach will enable you to make the most of this opportunity.

People generally tend to feel very comfortable and secure when there is little change in their life, however, without change there cannot be progress. So when change is forced upon you, address it positively and carefully explore all alternatives to ensure a better future.

If you have recently been retrenched, there are a number of options open to you, including:

• Staying in the same or a similar job/occupation/profession, in the same or different industry.
• A complete change in employment direction which may or may not involve additional education and/or training.
• Commencing your own business.
• Buying a business either wholly or in part.
• Retirement (full or semi-retirement).

In exploring these alternatives and their suitability to yourself, advice can be sought from a number of areas including employment agencies, financial advisers, relatives, friends, social contacts and the internet.

You will find that the majority of people will be sympathetic and only too happy to assist and advise you.

You will need to evaluate your own skills and interest, for example:

• "What am I good at?"
• "What am I interested in?"

Think laterally and broadly and don't dismiss any alternative until you have thought it through and discussed it with the relevant people.

You are a unique individual and there will be a wide range of practical options open to you.

The future can be exciting and satisfying bounded only by your determination, ability and imagination.

This is a time of opportunity and you should make the most of it.