Retrenchment is one of those terrible things that can send your life into turmoil. But it all depends on how you react to it. Follow these tips to make sure you not only survive a retrenchment if it happens, but you actually prosper...

1. Don't take it personally! Retrenchment has the ability to make you feel worthless and unvalued. Don't let it! Remeber, it's management's FAILURE, not yours. If it was your fault, you would have been warned about your performance and/or conduct, and you would have been dismissed.

2. Redundancy is an economic fact these days. Just as individuals chop and change jobs far more frequently now, so companies restructure, downsize and make changes. Redundancy may be unpleasant, but it's commonplace. Don't feel alone.

3. Register as unemployed immediately! Even if you're given a handsome payoff, get down to the UIF office and register straight away. If you receive a large lump sum, you may not be entitled to the unemployment benefit, but it pays to check!

4. Use your package wisely. Remember, this is a payment to help you get through the weeks until you land another job, so don't view it as a lottery win! If you have any credit card balances (or any loans where interest starts mounting if you miss payments) then make it a priority to get these cleared up.

5. Dig out those policies and see what you are paying for! When you take out a bond or any type of long term insurance, you may be able to claim a 'wage' from the policy (typically for up to a year) until you find another job. Many bond packages squeeze payment protection plans in when you first sign up - usually 6 months.

6. If you think you might struggle to pay the bond, tell your lenders immediately. The last thing they want to do is repossess your house and sell it for a knockdown price. It's in their best interests for you to carry on paying a bond over the full term, so they'll really WANT to help you... And they'll most probably have special schemes to help you through any difficult period.

7. Create a budget! Go through your last 3 bank statements and highlight every debit order that's gone out. If it's something you don't really use, cancel it. Contact all the companies and explain the situation. Again, most companies are pretty reasonable, and they'll want to keep your custom long term, so don't be afraid of getting in touch. They should be able to waive certain late payment fees, or put you on a budget scheme where you pay a fixed amount a month.

Retrenchment can come as a terrible blow - but these tips will help you deal with the reality of it. Remember, it can be a way to move on, to get out of a rut, to work for a bigger, better company and to get more pay! So think positive!

How to get your online résumé read first...

Don’t fuss with fancy letterhead and fonts. Instead, emphasise keywords, generally nouns, phrases, and industry jargon that will stand out.

Most recruitment databases assign résumés scores and rank them based on the total number of keywords in each one. Keywords that employers look for are job titles, like ‘financial manager’, or specific skills, such as ‘using Excel spreadsheets.’

To find the appropriate key words, review job descriptions in the newspaper, and read industry journals and online job boards. Write your résumé using terms that match exactly, even if it means you wind up using hackneyed expressions like ‘highly motivated self-starter.’

Why the numbers 5 and 60 are the most important in an interview...

Your main task as a prospective employee is persuading the interviewer you're perfect for the job. Forget about anything that revolves around you – why you'd love to work there, how you've always been interested in the industry, how it's a dream come true for you... The employer isn't interested in that. He'll be asking himself "What's in it for me… What can this person do for my company?" And that's exactly what you have to get across.

1. Select your five most marketable points, be convinced of them, and continually focus and highlight these five points throughout the interview.

All five points MUST illustrate how you would be invaluable to the company. For example, you might have overseen the development of a new accounts software package. You need to convey this to the interviewer in the most beneficial way – "The accounts reporting became more detailed and timely, and resulted in a saving of R300,000 on overheads, and helped increase turnover by R1,000,000..."

2. Now, you need to perfect a pitch that summarises your five selling points in 60 seconds. That's how long you have to capture an interviewer's attention. Remember, he or she may have already seen 20 people – so you need to stand out quickly.

In the name of wealth, happiness and success!
 

Pascale Barrow
Managing Editor of Personal & Finance Confidential