Redundancy is a word no one wants to hear, but in today’s shifting market, especially in cyclical industries like Real Estate & Hospitality, it’s more common than you might think.
Being made redundant, particularly at a senior level can feel like a blow to your confidence, identity, and financial security. But while it’s normal to feel disoriented, it’s also an opportunity to reset, reframe, and reposition yourself for the next chapter in your career.
Here’s what to do next practically, professionally, and personally.
Step 1: Process the News, But Don’t Panic
Redundancy isn’t a reflection of your worth or ability. It often has little to do with individual performance and everything to do with restructuring, economic cycles, or shifting priorities. In Real Estate, for example, companies frequently realign teams due to market movements, deal pipelines, or new leadership.
Give yourself space to absorb the news. Talk to someone you trust a mentor, partner, or coach. It’s okay to feel angry or upset, but don’t let those emotions drive your next actions.
🔍 Reframe it: you haven’t failed, you’ve been released to find something better aligned with your goals and strengths.
Step 2: Clarify the Terms of Your Exit
Before anything else, make sure you understand:
- Your redundancy package: pay, benefits, unused holiday, notice period.
- Any garden leave or non-compete clauses.
- Whether you’re entitled to outplacement support or access to career coaching. Career coaching during redundancy can reduce time to placement by ~30–50%.
You may want to get legal or financial advice, especially if:
- You hold equity or long-term incentives
- You’re part of a leadership team with confidentiality clauses
- You’re unsure whether the redundancy was handled correctly
Ensure you get everything in writing. If possible, negotiate for reference support, then ask colleagues for LinkedIn endorsements and testimonials, or introductions to relevant people in the industry.
Step 3: Rebuild Your Confidence and Your Story
Once you’ve had time to digest the news and decompress, start shifting your mindset from “I’ve been let go” to “I’m now open to the right next opportunity.”
Begin by updating your:
- CV and LinkedIn profile
- Career narrative – what’s the value you bring?
- Core skills and achievements – quantify them
- Market positioning – are you looking for a like-for-like role, a portfolio career, or something new?
You don’t need to hide the fact that you were made redundant. Hiring managers understand that redundancy happens. What matters more is how you talk about it:
- Focus on the value you delivered in your previous role
- Frame the redundancy as part of a broader business shift
- Position yourself as proactive and open to the future
💬 Example: “Following a strategic restructure at [Company], I’m now exploring new leadership opportunities where I can apply my strengths in [commercial development / capital markets / operational leadership, etc.].”
Step 4: Activate Your Network
In Real Estate & Hospitality, most senior hires are relationship-driven, not advertised. That’s why your network is your most valuable asset right now.
Start by:
- Reconnecting with former colleagues, clients, or industry partners
- Letting trusted people know you’re open to opportunities (confidentially, if needed)
- Attending sector events, roundtables, or networking breakfasts
- Speaking to specialist search firms, like Richmond Capital. Working with specialist Executive Firms increases offer alignment.
The key is not to ask for a job but to stay visible, credible, and top of mind. Networking increases the speed of your access to senior roles and can drive 70% of opportunities.
💡 Tip: Create a list of 20 people to reconnect with each month. Don’t ask for favours, ask for their insights or input on the market. Most will offer help naturally.
Step 5: Identify What You Really Want Next
Redundancy can be a catalyst to reconsider your direction. Instead of defaulting to the same kind of role, ask:
- What kind of work energises me?
- What environment do I thrive in?
- Do I want a leadership role, a board seat, or a portfolio mix?
- Is now the right time to explore consulting or entrepreneurship?
If you’re unsure, a career coach or mentor can help you navigate these decisions strategically not reactively.
Step 6: Be Strategic With Your Search
Once you’re clear on your goals, approach your job search like a project:
- Set weekly targets (e.g., applications, meetings, follow-ups)
- Track conversations in a spreadsheet or CRM
- Tailor your approach for each opportunity, no generic CVs
- Prepare for interviews with mock sessions and tailored stories
- Work with reputable executive search firms that understand your industry
At the senior level, roles take time to land. But staying consistent, visible, and intentional will shorten your time to hire.
📊 According to industry data, the average time to land a senior role after redundancy is 3–6 months. That can shrink though with strong positioning and support.
Step 7: Take Care of Yourself
Redundancy can affect your mental health, even if you’re outwardly coping. Make sure you:
- Stick to a routine – get up, move, keep to your fitness regime, and eat well.
- Avoid isolation – schedule regular check-ins with others and socialise
- Celebrate progress – small wins matter
- Protect your self-esteem – remind yourself of your achievements and strengths and be kind to yourself. Whether you saw the redundancy coming or not, it can be unsettling not to have routine and its important to remain resilient as you navigate your future.
It’s also okay to take a short break before jumping back in. Many professionals say that a “pause” post-redundancy gave them clarity and perspective they never had while working and can also boost clarity and performance in next role search.
Many take time out to volunteer, study further, travel or spend valuable time with their family.
Final Thoughts
Being made redundant is never easy – but it can be a springboard, not a setback.
With the right mindset, support, and strategy, you can reposition yourself more clearly, reconnect with what matters most, and re-enter the market stronger than before.
In fact, some of the most successful Real Estate & Hospitality leaders we know today began a new chapter only after being made redundant.
And who knows? This might just be the career pivot that leads to your best role yet.
Facing redundancy? You’re not alone.
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