How I Dealt With Redundancy: A Case Study

When Len Fulton was made redundant at the age of 54, he found it hard to accept at first. Having worked as a senior mortgage advisor for a high street bank, Len knew that his skills were transferable, but he didn’t know how to transfer them!

“I wouldn’t say that being made redundant was a total surprise, but I was certainly surprised by my reaction to it," Len explained. "When I was told, I just felt numb, and that feeling continued for at least three weeks. I don’t suppose three weeks sounds very long, but at the time it seemed like forever.”

Hard at First

Len was able to stay at home and be looked after by his wife, Jill, although this did not really help Len to think positively about the situation. He continued, “I was amazed at how long I felt so bad for, and how quickly. As soon as I finished work, it was almost as though all those years of making myself get up when my alarm clock went off were catching up with me. Together with the reaction to being made redundant, I think I just ‘switched off’ for a bit. Jill was great at looking after me, but I really needed some professional advice to guide me.”

This was exactly the advice that Len received from his GP, whom Jill convinced him to speak to after three weeks of feeling rotten. His doctor signposted Len towards the local library, who were able to set up a meeting with a careers advisor.

"Having an appointment with the careers advisor focused my mind and gave me a date to prepare for," explained Len. Although it felt strange to be asking for careers advice at 54, I have to say it really opened my eyes. I had assumed that I would just start looking for another mortgage advisor position at some point, but the careers advisor was helpful in making me see things differently and consider new options.”

A Fresh Start

So differently, in fact, that Len decided not to go back to being a mortgage advisor. Although he enjoyed his job, time away from the office environment had helped Len to appreciate that he wanted a better work-life balance for the remaining years of his working life. He wanted to utilise his professional experience in a new field, without the same high pressure situation he faced in the bank, with strict targets and early starts.

Len concluded, “I was also about to be a granddad for the first time and my redundancy made me see that I wanted to be able to spend more time with my family. Jill and I had been careful with money and had no mortgage ourselves, so I didn’t need to earn the same salary as before. I decided to work as an independent financial advisor on a self-employed basis, which meant that I was able to choose my own hours and work with the clients I believed in. I have to say it has improved my quality of life immensely.”