How to ... Cope after being retrenched
The retrenchment announcement is something one can never be prepared for, says ICHAF Training Institute CEO Devan Moonsamy
Many South Africans have had to cope with the devastating news that they will be retrenched as companies battle to survive amid the fallout from the Covid-19 pandemic.
Devan Moonsamy, the CEO of the ICHAF Training Institute, says: “The retrenchment announcement is something one can never be prepared for. It is also something you don't want to hear.”
Moonsamy has the following advice:
- Find out what your rights are and what type of retrenchment package you will be eligible for.
- Get yourself signed up at the Unemployment Insurance Fund as soon as you can. The fund is already under pressure due to the number of people who are filing, so the sooner you file your claim the better.
- Tell credit providers that you will soon be out of work and try to work out a way to cope with repayments during this time.
- You may want to have a public meltdown and tell your manager exactly what you think of him/her, but this is not the time to burn bridges. Things could be very different in a few months, and it makes sense to stay on good terms with your former colleagues and bosses.
- Being retrenched is devastating — you cannot expect to take the news lightly. Make sure you take care of your mental health at this time and talk to friends, family or a professional to help you though this very difficult time.