It’s not easy being made redundant. Finding a new role can be challenging, especially if you’ve not been on the job market for a while.
Having some outplacement support, where a specialist career coach will work with you to help you in your search for new employment, can make a huge difference.
They’ll help you focus your job search, work with you on your CV and LinkedIn profile and prepare you for interview so that you maximise your chances of success. Their expertise in helping you articulate your capabilities and build your confidence can be crucial to finding a new role quickly, so that you protect your earnings.
Many companies are happy to include a provision for outplacement in a redundancy settlement agreement, as they want to be supportive to staff who will be leaving. However, you do sometimes need to ask and remind them.
Including outplacement as part of your redundancy settlement with your employer also has other advantages. It won’t be counted as part of your £30,000 tax free allowance and has no VAT implications for you. Whereas if you paid for outplacement or career coaching support privately, you would be charged 20% VAT payment and there are no tax advantages. This is why it is far more advantageous for the outplacement support to be channelled through your company. Even if they don’t offer any money towards it, if they are willing to deduct the cost of the outplacement support from your final settlement figure it will save you hundreds of pounds as opposed to purchasing this privately.
Personal Career Management offer a wide range of outplacement services, we’d be only too happy to help you.
Corinne Mills is Managing Director of Personal Career Management, the leading specialists in career management and outplacement services who are the official Career Management partners for the ACCA.
As part of ACCA Member benefits, Personal Career Management offer ACCA Members a free career conversation and a 10% discount off any career coaching or outplacement programmes.
If you are looking for help in reaching your career goals, or assistance with a practical job search strategy, then call Personal Career Management on +44 1753 888 995 for a confidential discussion or fill in their online contact form